On the evening of October 30, Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, signaled to implement the "New Energy Vehicle Industry Development Plan (2021-2035)" issued immediately, accelerate the electrification of public vehicles, such as public transportation, rental, and logistics, and actively encourage "cars" Innovative development of the trade form of "electrical discrete", intensified promotion and utilization. Before the market on the 30th, Que Shifeng, deputy general manager of State Grid Electric Vehicle Service Co., Ltd., also revealed at the Deqing Conference that the "New Energy Vehicle Industry Development Plan" will be released next Monday. Boosted by this news, 17 of Wind new energy vehicle stocks rose. Stopped closing, BYD (increasing stock price reached an intraday high of 170.3 yuan, revolutionizing historical highs, with a cumulative increase of close to 236% since the beginning of the year; during the Ningde period (closing intraday surge to 256.6 yuan, hitting a new historical high this year) Cumulative increase since Since the second half of this year, the new energy sector has gradually strengthened. Especially since October, the new energy vehicle index has risen close to 10%, which is significantly stronger than the broader market. Chen Zhanwei, General Manager of Wuxu Assets, said in an analysis to China Business News that this time it will benefit from policies and increased market sales. On the one hand, the increase in sales of new energy vehicles has given a strong signal, and the acceptance of new energy vehicles by C-end users has increased significantly. With the gradual recovery of economic demand and consumption belief, it is estimated that sales of new energy vehicles in the fourth quarter are hopeless to maintain a relatively high increase. On the other hand, the policy environment has continued to favor the development of new energy vehicles. In terms of demand, data from the China Association of Automobile Manufacturers showed that in September, the national automobile production and sales reached 2.524 million and 2.565 million, an increase of 14.1% and 12.8% year-on-year; the production and sales of new energy vehicles reached 136,000 and 138,000, an increase from the same period last year. 48% and 67.7%. Increasing market demand, favorable policies and other reasons are rapidly increasing the development of new energy vehicles, but after the hot market, how will the sector go next? Chen Zhanwei analyzed this, with the continuous increase in the sales of new energy vehicles in the future and the digestion of the static valuation pressure of listed companies, from a temporary point of view, the new energy industry chain has a large room for development, and there is no hope of ushering in a simultaneous increase in dividends and valuation. "It is worth noting that the current valuation of the new energy vehicle sector has reached a high level, especially in the fourth quarter. Due to the impact of fund dividends and the exit of open funds at the end of the year, the fund's performance this year has been extensive. When the standard is met, professional investors will accept the more conservative form." Chen Zhanwei said. Chen Zhanwei also mentioned that the current achievement facing the new energy industry is whether policy subsidies can be continuous. The macro policy to boost the new energy automobile industry is to stimulate market vitality, improve industrial focus competitiveness, and accelerate industrial transformation and upgrading. Once the policy wind changes, there will be many people in the market who hear the wind. On the other hand, the pain points in the focus technique have not yet been dealt with. For example, short mileage, slow charging, and continuous hidden dangers of battery safety are the industry pain points for the development of new energy vehicles, which affect consumers' belief in purchasing new energy vehicles. In addition, the replacement cycle of new energy vehicles is shorter than that of fuel vehicles. And compared with old fuel vehicles, the residual value of new energy second-hand vehicles (the cost of using surplus within the fair use life) is very low.
