The gem index closed down 1.8% today, a new low for the year, with the largest heavyweight stock falling more than 2.5% in intraday trading but closing up 0.12%.
After-hours data show that northbound funds sold 8.699 billion yuan net throughout the day. Among them, the net sales in the Ningde era topped the list of 2.631 billion yuan, and it was the largest one-day net sale in history.
The Ningde era hit an all-time high of 692 yuan in December last year, with the biggest drop of nearly 35.98% as of today.
On the face of the news, the LME nickel price continued to empty today, rising more than 100% in intraday trading, breaking the $60, 000, 70, 000, 80, 000, 90, 000 and 100000 mark, and rising as much as 250% in the two trading days, setting a new record high.
Analysts believe that the sharp rise in nickel prices, an important raw material for lithium batteries, has raised concerns that the new energy industry may not be able to withstand the pressure of high costs, which is one of the main reasons why the new energy vehicle sector has continued to decline recently.
Tianfeng Securities Dianxin team recently reported that lithium (more than 500000 yuan / ton), nickel (ternary cathode) and aluminum (structures, parts) related to electric vehicles are all at an all-time high. The recent abnormal surge in nickel prices has aggravated the panic of the market on the new energy vehicle sector, at the same time, there is also a certain worry about the terminal demand in the market.
Soochow Securities Zeng Duohong and others said in a research report released on February 14 that the Ningde era recently fell back to the bottom of history due to all kinds of rumors about stock prices. The year 2022 is the year of global electric vehicle and energy storage sales, and Ningde era is also a global power battery dragon, with customers, technology and costs taking the lead, and the company has sufficient orders on hand, and the global installed share is expected to further increase to 35%. Shipments and performance are expected to continue to double growth, the company's current valuation is significantly undervalued.
According to earnings forecasts and valuations, analysts expect net profit to grow by 98% year-on-year in 2022 and only 54% year-on-year in 2023.
Analysts believe that the Ningde era is now facing two major horizontal and vertical pressures. From a horizontal point of view, we are facing the pressure of the industry on the target. Although the Ningde era held the position of the "first brother" of the global power battery for five years, the pursuers were not discouraged, but became more and more brave. Honeycomb Energy, Guoxuan Hi-Tech, AVIC Lithium, Yiwei Lithium Energy, Bike Battery and so on have been increased one after another. under the heavy investment, it also touched the "cake" of the Ningde era.
From a vertical point of view, it is faced with the pressure of competition for discourse power in the industrial chain. Volkswagen, Ford, Geely and SAIC are currently joint ventures or self-built battery factories. From the point of view of the lengthening cycle, the Ningde era is so strong in the industrial chain, or it is not normal. As the mainframe factory gradually gets its hands on the power battery, the status of Ningde era also has the underlying logic of change.
