2013 lithium industry demand growth is expected to be stable and acceleration, and industry boom will further stabilization and improvement.
Tianqi Lithium Industries (002466)) opening limit, driven by the performance of lithium stocks yesterday very active. As of the close, the lithium plate rose more than 2%. Tianqi Lithium Industries daily limit Shanshangufen (600884)) rose more than 8%, the rest more stocks rose more than 4%.
In fact, since December, lithium battery sector as a whole with the broader market to pick up some stocks short-term has now good gains. The sector as a whole upside by Tianqi Lithium Industries, a strong limit the impact, industry fundamentals recently conducive to good burst. Recently, the Ministry of Industry issued a notice, decided to organize the lithium battery industry survey to find out the status of China's lithium battery industry, to provide a basis for the development of lithium battery safety standards and production enterprise security access.
Cinda Securities new energy industry analyst Fan Haibo analysts believe that The lithium industry listed companies are generally the leading enterprises of the relevant sub-sectors, with the advantages of scale, technical. The specification of the future of the industry is expected to phase out backward production capacity of some small and medium enterprises, which is a company listed on the lithium investment opportunities. Lithium material recommendations concern Capchem 300037), Shanshangufen, Jiangsu Guotai (002,091)); lithium batteries, the recommendations concern BYD (002594)), Desai battery (000049)).
As the national policy of new energy vehicles to support efforts to increase its long-term development path is clear. In the development of electric vehicles, battery benefit. The long-term development of lithium batteries is a general trend. CRE Securities expects the new energy vehicles in 2012 will exceed 10 million units, which can be driven by the battery manufacturer 60 billion market, the next three annual compound growth of more than 50%.
2013 industry demand growth is expected to steady acceleration, the industry boom will further stabilization and improvement. HE Wei-Jiang Zhongyuan Securities analyst, said the 2013 traditional energy storage is the intelligent terminal growth in demand for lithium batteries power the scale energy storage has great potential in the field of new energy and smart grid; domestic and foreign new energy cars leading sales growth will significantly improve the mode determination and policy support to boost the development of new energy vehicles. Main investment concern valuation dropped significantly, the profitability of stabilization segments, as well as event-driven investment opportunities. Proposes a focus Capchem, Jiangsu Guotai and Shanshangufen.
Desai battery as the main supplier of the Apple mobile phone battery, Apple revenue accounted for about 70% of revenue. Haitong Securities (600837)) analyst Joseph Chang of the view that there is room for improvement, with the rising proportion of non-mobile phone business, the company's gross profit margin. IPhone as its customer base, the company's growth next year to determine. In addition, the company's new customers are constantly open up, including international giants Samsung, as well as leading millet customers. The forecast for 2012 and 2013 earnings per share were 1.1 yuan and 1.59 yuan. Give the company "overweight" rating and a target price of 38.50 yuan, corresponding to 2012 35 times earnings.
Shanshangufen UBS Securities analyst Valley, Qi Bin, the company in the first three quarters of the lithium income year-on-year increase of 41%, mainly because of its negative electrode, the cathode material revenue growth far exceeding the industry average. Capacity release will drive the performance of lithium material to enter the fast growth track, first of all, anode material is the focus of the company's lithium business profits, Ningbo 1000 tons mesocarbon the microspheres was put into operation in November, the large-scale projects of the port in 2013 entered a substantive construction period ; Second, the cathode material, Hunan Heiner cobalt tetroxide commissioning of the project can save costs and significantly improve product quality. 2014 the company forecast 2012 earnings per share were 0.51 yuan, 0.73 yuan, 0.95 yuan. Recent holdings of the controlling shareholder demonstrates the long-term confidence in the development of listed companies. A target price of 21.2 yuan.
The new Capchem occupy the absolute leader in the country capacitance field of chemicals, lithium battery manufacturer electrolyte business has entered the country in the forefront. Northeast Securities (000,686)) analyst Pan Xifeng said the company's current production capacity of approximately 4,000 tons the Nantong project is put into production capacity next year, an increase of 5000 tons. The estimated 2012 - 2014, earnings per share were 0.78 yuan, 0.98 yuan and 1.24 yuan. Has a certain value of the investment from the company's fundamentals and valuation point of view, the A-share market as a whole visual trends and the size of the non holdings choose the layout.
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