Has the New Energy Sector Adjusted Enough?

[DelKate]

New energy has already adjusted sufficiently. Information about new energy is as follows: 1. New energy: Also known as non-conventional energy, it refers to various energy forms beyond traditional energy sources. 2. Classification: Generally refers to renewable energy developed and utilized based on new technologies, such as solar energy, geothermal energy, wind energy, ocean energy, biomass energy, and nuclear fusion energy. Information about new energy vehicles is as follows: 1. New energy vehicles: Refers to vehicles that use non-conventional vehicle fuels as power sources (or use conventional vehicle fuels with new vehicle power devices), integrating advanced technologies in vehicle power control and driving, resulting in vehicles with advanced technical principles, new technologies, and new structures. 2. Classification: New energy vehicles include four major types: hybrid electric vehicles (HEV), battery electric vehicles (BEV, including solar-powered vehicles), fuel cell electric vehicles (FCEV), and other new energy vehicles (such as those using supercapacitors, flywheels, and other high-efficiency energy storage devices).

[DeCooper]

Friends who have been following new energy vehicles recently might feel a bit anxious. After reviewing industry reports daily, I've noticed several key points. The prices of upstream materials have essentially bottomed out—for instance, lithium carbonate has stabilized at around 200,000 yuan per ton after dropping from 600,000 yuan. On the policy front, the 14th Five-Year Plan continues to ramp up charging infrastructure development, and a pre-subsidy phase-out installation rush is likely in Q4. However, technological roadmaps vary significantly across companies, requiring a closer look at specific segments. Installation data shows that second-tier battery manufacturers saw better-than-expected month-on-month growth in May, while leading players experienced some softening in capacity utilization. Personally, I believe the valuation rebound for some stocks is nearing its limit, but it’s crucial to pick companies with core technologies, such as those breaking through the 800V high-voltage platform.

[VonAsher]

I just attended the new energy vehicle exhibition last month, and after chatting with several engineers, the signs of recovery were quite evident. Battery costs have dropped by 15% compared to the beginning of the year, significantly easing the gross margin pressure on automakers. Terminal sales data is also improving, especially for plug-in hybrid models, which saw a 40% year-on-year increase in May. In terms of technological iteration, fast-charging speeds have made remarkable progress over the past six months, with 800V platform new vehicles set for mass production by year-end. Although the overall valuation of the sector isn't particularly low, sub-sectors like thermal management systems and lightweight materials have seen a noticeable increase in institutional research frequency recently. If you ask me, midstream component manufacturers with production capacity advantages in the supply chain should be nearing the bottom in this round of adjustments.

[LincolnAnn]

As a veteran who disassembles electric vehicles all day, it's clear from a technical standpoint that opportunities are emerging. The mass production pace of 4680 batteries is faster than expected, and CATL's new production line has improved its yield rate to 92%. More critically, after the easing of the automotive chip shortage, OEMs have become more aggressive in their production scheduling. During an open day at a new energy vehicle factory last week, their welding workshop was seen operating in three shifts to meet demand. The industry's inventory cycle is at the tail end of active destocking, with channel feedback indicating inventory turnover days have dropped to 45. From a penetration rate perspective, new energy vehicles only account for 18% in third- and fourth-tier cities, indicating significant room for growth. However, attention must be paid to policy risks in overseas markets, as the EU's anti-subsidy investigation may impact export-oriented companies.