Today's investment outlook: independent brands accelerate the promotion of high-end intelligent driving on the car Semi-solid-state batteries accelerate verification

Yesterday, the Shanghai Composite Index fluctuated in a narrow range in early trading, and fell lower in the afternoon, while the Shenzhen Component Index and the ChiNext Index accelerated their decline in the afternoon. As of the close, the Shanghai Composite Index fell 0.4% to 2,930.8 points, the Shenzhen Component Index fell 1.13% to 9,279.39 points, the ChiNext Index fell 1.54% to 1,820 points, and the Beijing Stock Exchange 50 Index rose 3.39%. In terms of sectors, tourism and hotels, semiconductors, media, real estate and other sectors were among the top decliners, while retail, wine, food and beverage, oil, and power sectors weakened;

Guosheng Securities said that the Fed's interest rate hike cycle may be over, as the 10-year U.S. Treasury yield fell below a multi-month low, or create a positive external environment for the A-share market. Northbound funds increased their positions against the market on Monday, and the net outflow was suspended. The regulator issued new rules on cash dividends, guided the formation of medium-term dividend Xi, etc., encouraged listed companies to use repurchase tools to actively return investors, and the market environment was further improved. In terms of allocation, the first is to pay attention to high-dividend assets under the background of new regulatory regulations, such as coal, power and other sectors that are both offensive and defensive, and the second is to lay out industries with reversal of difficulties, focusing on biomedicine and aquaculture.

Today's investment opportunity analysis

Independent brands accelerate the promotion of high-end intelligent driving on the car

Among them, Ideal announced last month that the ADMAX City NOA (official version) will cover the national high-speed and ring roads and 100 cities, the BYD Denza N7 will push high-speed NOA assisted driving at the end of December, the Zhiji IMAD high-speed NOA officially penetrated the whole country on December 12, and on December 13, NIO Enhanced Pilot Assist NOP+ officially changed its name to "Global Pilot Assist NOP+" On December 14, BMW announced that vehicles equipped with L3 autonomous driving functions had obtained a high-speed autonomous driving test license in Shanghai; on December 14, Xpeng announced that the second batch of 27 cities would open the public beta of XmartOS4.5.0, which is a no-map intelligent driving version; GAC Aion actively applied for the L3 pilot of the Ministry of Industry and Information Technology.

Galaxy Securities pointed out that, on the whole, the first echelon represented by Wei Xiaoli and Huawei is actively promoting the wider coverage of the urban NOA function and the "no map solution", leading the technological progress of the intelligent driving industry, and the second echelon of independent brands and foreign brands in the high-speed NOA technology tends to improve, and will explore the expansion of the function to a higher level of urban NOA function in 2024. With the continuous upgrading and improvement of domestic independent brand technology, superimposed by the Ministry of Industry and Information Technology in the early stage of the "Carry out the Pilot Work of Intelligent Connected Vehicle Access and Road Traffic", the policy obstacles to the development of high-level intelligent driving have been eliminated, and it is expected that the urban NOA function will become the main theme of the autonomous driving industry in 2024.

NIO's 1000km+ test drive was successful, and the semi-solid-state battery accelerated the verification

On December 17, Li Bin, CEO of NIO, measured the range of a 150kWh ultra-long-lasting battery pack live. The results show that the NIO ET7 consumes about 13kWh of energy per 100 kilometers of 1044 km, and still has 3% of power left, and the remaining CLTC mileage is expected to be 30km+.

Galaxy Securities pointed out that the 150kWh battery pack tested this time is currently the largest capacity battery pack in the domestic passenger car field, the product was first released in 2021 NIODay, using a semi-solid-state battery solution, the cell energy density is as high as 360kWh/kg, and the battery pack density is 260Wh/kg (Ningde Kirin battery density is 255Wh/kg); The low-temperature performance is ahead of mainstream liquid lithium-ion batteries. In addition, the safety of semi-solid-state batteries will also be comprehensively improved. The product is expected to be mass-produced in April next year and will be compatible with all NIO models, which will significantly enhance the competitiveness of car companies.

In addition to NIO ET7, 2024 will usher in a wave of semi-solid-state battery loading verification, such as Cialis (Ganfeng Lithium Battery) and SAIC Zhiji (Qingtao Energy), it is recommended to pay close attention to the actual use effect of the application side, or will continue to catalyze the upward trend of the lithium battery sector.

The construction of a new power system is accelerating

With the rapid increase in the installed capacity of centralized power sources such as large bases and ground power stations, and the accelerated penetration of distributed resources on the load side, the carrying capacity of the power grid has become a constraint to the further development of new energy. Wind and solar power stations are connected to the grid for step-up, UHV and conventional power grid construction, and terminal consumption electrification force the active upgrade of the distribution network, which promotes the acceleration of investment in the power grid. In 2023, the bidding amount of State Grid power transmission and transformation equipment and UHV equipment will increase year-on-year, and the bidding demand for electricity meters will be the same as that in 2022.

Kaiyuan Securities said that with the rise in the volume and price of power grid bidding, the optimization of epidemic prevention and control, the decline in the price of raw materials such as bulk commodities and transportation costs, the power grid equipment sector as a whole shows a high growth trend, and it is expected that power grid investment will maintain a high level in 2024.

Other market-moving news

14. Departments are to carry out pilot projects for the application of network security technology

The Ministry of Industry and Information Technology, the Cyberspace Administration of China, the Ministry of Human Resources and Social Security and other 14 departments recently jointly issued the "Notice on Carrying out Pilot Demonstration Work on the Application of Network Security Technology", which will focus on the security of new information infrastructure, the security of digital application scenarios, and the improvement of basic security capabilities, and select a number of pilot demonstration projects with advanced technology and remarkable application results.

The notice makes it clear that it will face the needs of network and data security in important industries such as public communication and information services, human resources and social security, water conservancy, health, emergency management, radio and television, finance, transportation, and postal services, and carry out pilot demonstration work on the application of network security technology from 13 key directions such as basic network security, cloud computing security, and artificial intelligence security.

The four departments issued a document to strengthen the allocation of TCM physicians in the TCM hall

The General Department of the State Administration of Traditional Chinese Medicine, the General Office of the National Health Commission, the General Office of the Ministry of Education and the General Office of the Ministry of Human Resources and Social Security recently jointly issued the "Notice on Deepening the Construction of Traditional Chinese Medicine Halls and Strengthening the Allocation of Traditional Chinese Medicine Doctors", in accordance with the "14th Five-Year Plan" for the development of traditional Chinese medicine, by 2025, the mainland should strive to achieve all community health service centers and township health centers to set up traditional Chinese medicine halls and equip traditional Chinese medicine physicians.

Continental scientists have developed ultra-thin, energy-efficient optical crystals

Optical crystals can realize frequency conversion, parametric amplification, signal modulation and other functions, and are the "heart" of laser technology. After years of research, the Peking University team creatively proposed a new optical crystal theory, and used the light element material boron nitride to prepare an ultra-thin and energy-efficient optical crystal "corner rhomboid boron nitride" (TBN) for the first time, laying a theoretical and material foundation for a new generation of laser technology.

COSCO Shipping and OOCL have announced the suspension of cargo transportation on the Red Sea route

According to The Paper, due to the international situation, COSCO Shipping, Orient Overseas and Evergreen Shipping have verbally notified the suspension of cargo on the Red Sea route. ONE Marine Network Shipping has also given verbal notice to suspend cargo handling on the Red Sea route. Maersk and CMA CGM announced earlier in the morning of December 18 that the cargo pick-up situation in the Red Sea direction will wait for the notice of the headquarters, and it is expected to get the news later today. It should be noted that CMA CGM, COSCO Shipping, Evergreen Shipping and OOCL have previously cooperated to form an alliance.

In addition, some freight forwarders said that at present, MSC has only notified the Cape of Good Hope to detour the southern tip of Africa, and has not suspended cargo pick-up in relevant directions. Hapag-Lloyd has informed that, with the exception of VIP guests, bookings on the Middle East, Red Sea and Mediterranean routes on the west and east coasts are suspended until further notice.