According to the specific trading data, 66 stocks rose in the month, accounting for 31.9% of the total stocks traded in the industry, among which three stocks, including otelia, Xinpeng and Jingwei, all rose by more than 50%. From the perspective of capital flow, there are 74 stocks in the board that actively buy extra large single funds within a month, with a total of 2.794 billion yuan. Among them, Weichai Power, Dell stock, CRRC, yinlun stock and WanLiYang and other five stocks that actively buy extra large single funds exceed 100 million yuan, with a total of 1.597 billion yuan.
The two financing data show that after the financing customer Festival, the leverage funds of the sector are gradually reduced. According to the statistics of tonghuashun data from research department of Securities Daily, as of February 27, the balance of financing and securities lending of 27 two financial targets in the plate in the month totaled 9.755 billion yuan, while the amount of financing purchase from February 3 to 27 amounted to 11.039 billion yuan, and the amount of interval financing repayment was 11.604 billion yuan. Specifically, after the Spring Festival, financiers bought 10 stocks net, with a total net purchase of 190 million yuan.
Although the performance of transportation equipment sector is not eye-catching, analysts generally believe that the sector has a high potential in the future. In the process of economic recovery after the epidemic, the strength of policy combination is expected to exceed expectations.
Anxin Securities believes that although the possibility of large-scale and high-intensity stimulus policies at the current stage is not high, five policy tools are expected to hedge the impact of the current epidemic. First, the restrictions on purchase were further liberalized. Second, trade in the old for the new. Third, reduce consumption tax. Fourth, subsidies for new energy vehicles. Fifthly, infrastructure construction subsidies and local subsidies for taxi electrification are two new energy policies that may be followed up and strengthened in 2020.
Combined with the smart car innovation and development strategy (hereinafter referred to as the strategy) jointly issued by 11 ministries and commissions including the national development and Reform Commission, Everbright Securities believes that the recovery time zone switch under the passive inventory removal stage of the automobile industry is at the right time and will last until the second quarter of 2020. The negative impact of the epidemic on the growth of the industrys sales volume is mainly reflected in February to March. Combined with the performance of the sector in three cycles, the sectors excess earnings will face the stage adjustment pressure in the upward trend around March. The introduction of the strategy has limited effect on the continuous restoration of the valuation of the plate in the short term. It is suggested to actively respond to the bumpy period of the valuation restoration that the plate is about to face, and actively allocate the plate in the adjustment that may occur.
Galaxy Securities believes that the release of the strategy will benefit the intelligent automobile industry chain, from the intelligent driving parts integrator to the vehicle enterprise. Companies with strong technical reserves in the early stage, advanced product planning and scale effect will probably benefit. It is suggested to pay attention to SAIC, GAC, Huayu automobile and Junsheng electronics.
In 2020, international automobile enterprises are increasing the investment layout of new energy vehicles, not only in Ningde era, but also other power battery manufacturers are expanding production capacity. CAITONG Securities believes that the clarion call of auto power has been sounded, the innovation and development strategy will strongly promote the development of smart cars, the whole industrial chain has benefited, and domestic smart driving and auto electronics manufacturers have ushered in growth opportunities. It is recommended to focus on Desai Xiwei (the largest independent automotive electronic supplier in China, and ADAS has started to batch support) and Junsheng Electronics (overall layout of HMI, active and passive safety and intelligent network), and it is recommended to focus on Qiming Xingchen (FAW digital base), Kaizhong (layout of multiple EPB, line controlled brake products), and four-dimensional tuxin (Chinas largest digital map provider).