Graphene/fuel cells are making progress

Recently, the market performance is not surprising, but the new energy vehicle plate bucking the trend up, especially lithium battery plate performance eye-catching, frequently hit a new high stage, far outperforming the market index in the same period.

Analysts interviewed by the reporter believe that China's new energy vehicle production and sales will continue to maintain a rapid growth, the future development can still be expected. In this context, the new energy sector may make a comeback, and lithium batteries, graphene batteries and fuel cells, etc., may become the focus of major institutional capital pursuit.

Lithium battery aftereffect full attention to five major areas of segmentation

With the aggravation of air pollution, the importance of new energy vehicles is becoming more and more prominent. In recent years, the state has increased subsidies for new energy vehicles, and as a result, new energy vehicles have developed rapidly. The development of new energy vehicles also drives the demand for lithium batteries. The market is expected to reach 200 billion yuan by 2020.

Recently, due to the high price of upstream lithium carbonate stabilized and the continuous volume of downstream power batteries, the concept of lithium battery continues to be sought after by the capital, becoming a hot market. Disk shows that tianqi lithium, ganfeng lithium and other stocks have reached a record high.

Analysis of 9 battery stocks: lithium batteries have great staying power graphene/fuel cells are making progress

Lithium battery policy support

As an important part of new energy vehicle, lithium battery has always been the direction of national development.

The reporter combs discovery, on January 26 last year, ministry of finance, country duty general bureau issues "about the announcement that collects consumption tax to battery, coating" regulation, since February 1, 2015, collect consumption tax to battery, coating, and lithium battery is exempted from consumption tax. On November 3 of the same year, the interim measures for the announcement and management of industry specifications for lithium ion batteries (draft for soliciting opinions) was released, aiming to promote the implementation of industry specifications for lithium ion batteries and promote the further development of the lithium ion battery industry. On November 18, the ministry of industry and information technology released the "industrial key generic technology development guide (2015)", the lithium battery industry was mentioned again.

The lithium battery industry has seen a blowout in recent years. In the first quarter of 2016, the production and sales of new energy vehicles increased significantly, which led to strong downstream demand for lithium batteries. In terms of output, the domestic production of lithium battery reached 47.13CJWh in 2015, with a year-on-year growth of 54.78%. The proportion of power battery increased rapidly, from 19% in 2014 to 36% in 2015. The output of power lithium battery was about 15CJWh, accounting for 32% of the total output of lithium battery. In the first quarter of 2016, the output of lithium battery continued to maintain a rapid growth. On the other hand, the recharging battery demand of some new energy vehicles at the end of 2015 was also released in the first quarter.

The industry is still in the ascendant

No matter from the policy support or from the point of view of downstream demand, lithium battery industry prospects are very broad. It is estimated in the industry that China's lithium power market will reach 42.1 billion yuan and 59.6 billion yuan in 2015-2016. By 2020, the market is expected to generate 200 billion yuan of huge space. Reporters noted that the broker is very optimistic about the lithium battery industry prospects. Avic securities said, from the perspective of the new energy vehicle industry, the lithium battery industry is expected to be still in the golden rising period in the next six months to one year due to the following new energy vehicle production and sales exceeding expectations and the release of ternary materials in the electric bus market.

Hualong securities is also very optimistic about lithium battery investment opportunities. It pointed out that the continuous volume of new energy vehicles has boosted the demand for lithium batteries, and lithium battery materials enterprises have enough orders, which can drive the growth of performance. From the perspective of the whole industrial chain, attention can be paid to the ganfeng lithium industry, citic guoan and western resources with lithium resources upstream. In terms of cathode materials, it is suggested to pay attention to byd, guoxuan high-tech and wanxiang qian chao, which have the highest market share. In terms of anode materials, it is suggested to pay attention to domestic leading enterprises shanshan shares; Electrolyte field, can focus on the market share of the top three enterprises new zhou bang, tianci materials and jiangsu guotai; Diaphragm aspects of the proposed focus on wet diaphragm leading cangzhou pearl.

Potential stock selection

Camel share lithium electricity business to improve performance

With a sound battery industry base, camel introduces CATL and preder technology team to focus on building the power lithium battery business.

The company has issued a public convertible bond plan, aiming to raise 900 million yuan to invest in lithium battery project and waste lead-acid battery recycling and treatment project. The company is expected to enter the fourth batch of lithium battery promotion catalog. In 2016, the supporting models of lithium battery are mainly passenger cars and logistics vehicles. Southwest securities expects that the number of supporting models will exceed 5,000, and lithium battery business is expected to drive the company's performance.

Byd's battery costs are falling

Byd power battery capacity continued to put in, battery costs gradually reduced, new energy vehicle profitability is expected to further enhance. Company "new energy +SUV" configuration to effectively meet market demand, pure electric version of "qin" is expected to open the Beijing market.

In terms of new energy buses, the company is expected to keep getting orders as shenzhen plans to make its buses 100% electric within three years. Qunyi securities believes that the company's annual new energy bus sales are expected to be close to 10 million.

Jiangsu guotai high quality assets integration can be expected

Jiangsu guotai huarong chemical co., LTD., a subsidiary of jiangsu guotai chemical co., LTD., currently has a production capacity of 10,000 tons of lithium ion battery electrolyte per year, and the product is positioned at the middle and high end. Currently, the price is on the rise. Haitong securities gave the company a target price of 19 yuan according to the division valuation method, giving the overweight rating for the first time.

As a leading manufacturer in Asia, the company is expected to improve incentives, expand production capacity and continue to expand its competitive edge. Haitong securities optimistic about the group's assets follow-up integration progress.

Progress in graphene batteries

A recent announcement has put graphene batteries in the spotlight. Australian energy company LWP announced on June 14 that it will acquire an aluminum-graphene synthesis and battery manufacturing technology that "has a much higher energy density than lithium-ion batteries," according to the report. Russian Australian scientist and inventor VictorVolKOv has completed international laboratory tests of his revolutionary battery technology, the sources said. Graphene concept stocks have been flying high for a while.

Graphene is the best conductor of electricity and heat

According to media reports, researchers at the Massachusetts institute of technology have found that graphene technology can increase the speed of chips by a million times. The technology allows for the transfer and storage of data on a chip to a very high level of computing power.

After a lot of due diligence, LWP said it decided to acquire the aluminum-graphene synthesis and battery manufacturing technology pending patent approval in exchange for an investment of a $1.6 million and a 30 million equity issue to the inventors of the technology. The reporter noted that its new technology will first be applied in the field of battery manufacturing, and the cash invested will be used to develop battery prototypes in preparation for the licensing of patented technology to battery manufacturers. Electric car makers and battery suppliers are investing hundreds of millions of dollars in research and development into lithium batteries, hoping to achieve higher energy storage performance and reduce charging times, but progress in lithium electronics technology has been limited. And despite the promising demand for lithium batteries, it is common knowledge that they are unstable and prone to flares. Graphene, by contrast, has a higher energy density than lithium batteries and has a wider range of applications.

Graphene is known as "black gold" and "the king of new materials". It is a new type of nanomaterial with the thinnest, strongest strength and strongest conductivity and thermal conductivity found so far. It is expected to bring revolutionary progress in new energy battery materials, ultra-fine powder materials, conductive materials and other fields. Sinolink securities believes that graphene batteries have a promising future and that their use in power lithium-ion batteries, such as new energy vehicles, could make a significant difference.

Industrialization needs to overcome 3 big obstacles

Graphene batteries use lithium ions to charge and discharge graphene as they move rapidly and in large amounts between the surface and the electrode. The current research is divided into two parts: doped graphene to improve existing battery performance or battery materials made entirely of graphene.

Once graphene batteries are used in new energy vehicles, the industry chain is bound to explode. At present, new energy vehicles are expanding rapidly with overwhelming momentum. According to the China association of automobile manufacturers, 37,000 new energy vehicles were produced and 35,000 sold in May, up 131.3 percent and 128.0 percent year-on-year, respectively. Among them, the production and sales of pure electric vehicles were 29,000 and 26,000, up 177.0% and 161.6% year on year respectively. The number of plug-in hybrid vehicles was 9,000, up 49.3 percent and 68.7 percent, respectively, year-on-year.

From January to may, new energy vehicles produced 132,000 units and sold 126,000 units, up 131.4 percent and 134.1 percent respectively from the same period last year. In may, the monthly growth rate narrowed compared with April, but it still doubled, showing the momentum of the development of new energy vehicles.

Zhesheng securities believes that graphene battery is one of the most promising new materials in the future. Although the industrialization still needs to overcome obstacles in terms of technology, cost and performance, it is still a promising direction for the industry, university and research institute.

At present, the listed companies are actively trying to seize the market and advance the layout of graphene batteries. For example, zhengtai electric appliances has invested 18 million euros to acquire 10% equity of GRABATENERGY (S.L.), a Spanish company. GRABAT is mainly positioned as the GRAPHENANO's graphene battery industrialization platform. China power signed a strategic cooperation agreement with Shanghai xinchi new energy technology co., ltd. to develop high-performance graphene lead-acid batteries and lithium batteries.

Analysis of 9 battery stocks: lithium batteries have great staying power graphene/fuel cells are making progress

Potential stock selection

China power restructuring accelerates business integration

China power cooperation with Shanghai new pool of new energy research and development of high-performance graphene lead-acid batteries, lithium batteries, using graphene good electrical conductivity and thermal conductivity, research and development of new materials and improve company performance of lead-acid batteries, lithium ion batteries and other products, is advantageous to the company in graphene materials research and development and application of new materials and industrial development.

The company plans to issue shares and make cash payments to purchase the power assets of csic and its subsidiaries, covering seven power sources including gas power, steam power, chemical power and all-electric power, in an effort to build a leading power business with comprehensive technology in China. Guosen securities believes that the company will take the opportunity of asset restructuring to accelerate the business and asset integration, make use of the technological research and development advantages of scientific research institutes, give play to the synergistic effect, and comprehensively enhance the comprehensive competitiveness of the company.

Zhengtai accelerates the deployment of graphene batteries

On May 15, zhengtai electric announced that new pool energy, the holding subsidiary of the company, and China power signed a strategic cooperation agreement to jointly carry out the research and development of graphene materials, new material application and industrialization strategic cooperation, and actively promote the technology application of new pool energy.

The company announced in January that it would pay 18 million euros (126 million yuan) for a 10 percent stake in GRABATENERGY, S.L. GRABAT is a company established in accordance with relevant Spanish laws. The company is mainly positioned as the industrialization platform of GRAPHENANO's graphene battery. GRABAT holds the graphenano-based battery development, commercialization, manufacturing rights and technical solutions licensed by GRAPHENANO.

Xinwangda together to develop new technology

Hin wanda with nankai university signed the technology development contracts, with the help of a company in graphene battery industrialization of rich experience and strong scientific research strength in the field of graphene of nankai university, the two sides had "graphene materials and key technologies on new type electrochemical energy storage devices such as" all-round cooperation project issues, to build "graphene new energy materials research and development center.

Zheshang securities that the company ahead of the layout of new technology, conducive to sustainable development in the future. In addition, the company and ANKEr jointly promote the marketization of household portable energy storage devices. This cooperation product is a portable household 434Wh energy storage device, which is mainly aimed at the overseas market and can provide emergency power for indoor and outdoor low-power electronic products. The number of cooperation products is 200,000.

Fuel cell efficient zero emission layout ahead of schedule in three areas

In addition to lithium battery and graphene battery, fuel cell is also considered as a new energy battery segment with good development prospects in the future. Market participants interviewed by reporters pointed out that fuel cells can achieve high efficiency and zero emissions, is the ultimate goal of new energy vehicles.

According to the introduction, fuel cell (FuelCel) is a kind of power generation device that directly converts the chemical energy existing in fuel and oxidant into electric energy. Because the fuel cell is made of hydrogen and oxidant, and water is discharged, the "small power generation" plant has high conversion efficiency and truly realizes zero pollution emission. It changes the way of energy utilization and opens a new era of energy diversification.

The accelerated inflection point is expected in 2020

The reporter noted that judging from the development of the industry, Japan, South Korea and the United States are now leading the way in the field of fuel cells. In response, huang shichuan, an analyst with southwest securities, said that in 2014, fuel cell shipments in the United States were 140MW, three times higher than those in Asia and Europe, and the development was rapid. The U.S. government has identified hydrogen and fuel cells as one of the critical technologies that will be developed to sustain economic prosperity and national security. Japan supports fuel cells more than any other country. China is a potential market. Domestic FCV automobile has passed the technology development stage and entered the market introduction stage. Reducing costs and strengthening the construction of refueling stations have become the top priority.

Mu qiguo, an analyst with chuan CAI securities, believes that fuel cells will be an important investment direction in the next 10 years, and the acceleration inflection point is expected in 2020-2025. "Fuel cell vehicles, which do not change users' driving habits, solve the problems of lithium battery range anxiety and rapid energy replenishment, and are close to the performance of internal combustion engines in low-temperature starting, cycle life and recycling technology, and are considered as the next generation of energy technology. According to the international energy agency, the number of fuel-cell passenger cars in the United States, Europe and Japan will reach 100 million by 2050, or about 30 percent, to meet the 2c temperature target. At present, the cost, refueling station and hydrogen source are the three mountains in front of the fuel cell. "" the market is expected to accelerate to an upward inflection point in 2020-2025. In addition, thanks to subsidy policies and technology introduction, China's fuel cell vehicle industry may develop faster than expected. Mu qiguo preliminarily estimated that China would produce and sell about 1,000 fuel cell vehicles in 2017 and hold about 15,000 by 2020, corresponding to the market size of 6 to 7 billion yuan.

Key components become the breakthrough

"At present, the cost of fuel cells is very high, and the resources invested in the whole industry chain are not enough, which leads to the high cost of each link. This is one of the main difficulties in the promotion of fuel cells." "Fuel cells are an inevitable trend," huang said. "with the increase of industry activity, the concept will be frequently hyped in the secondary market, and related targets will also increase. It is suggested to focus on sanhuan group, nandu power supply and shengyang shares. Meanwhile, it is also necessary to pay attention to the battery and new material related targets of a-share. Many companies have made technical reserves, and it is recommended to focus on mengshi technology.

For mu qiguo, it is recognized that China has a technology gap with Japan, South Korea and Germany in fuel cell industry for at least 10 years. Nevertheless, Chinese manufacturers still have investment opportunities in three areas: 1. 2. Breakthrough in some key parts, such as membrane electrode and proton exchange membrane. 3. The technical threshold of infrastructure is relatively low, which is conducive to the entry of local Chinese enterprises. The a-share listed companies involved include furuite decoration, xiongtao share, sinoma technology, nandu power supply, Great Wall electrician, coliyuan, platinum, energy-saving wind power and so on.

Potential stock selection

Nandu power to create a full battery industry chain

At present, the products of nandu power supply company cover fuel cells, lead-carbon batteries and lithium batteries, which are applied in electric vehicles, energy storage power stations and other fields. At the same time, the company has acquired China platinum and entered into battery recycling, forming a complete battery ecological industry chain. "This will lay a good foundation for the company to improve the efficiency of battery utilization and improve the layout of cascade utilization in the future." Cic securities analyst zhou Ming said.

Zhou Ming believes that the company has rich experience in lithium battery production technology and industrialization, combined with the current rapidly rising demand for power batteries, the company's power battery business will grow in the future.

Fuerite has expanded its hydrogen storage business

Sealand securities analyst generation peng said, rhett is filled with liquid hydrogen source material business in large trial stage, the company will try to succeed after the plan implementation of hydrogen storage materials and hydrogen storage equipment industrialization projects, the project will form the annual output of 30000 tons of liquid hydrogen and 20000 sets of special equipment for the hydrogen source material, a year can supply 1500 tons of high purity hydrogen.

Hydrogen storage is the key to fuel cell industrialization. Compared with high-pressure hydrogen storage, liquid hydrogen storage method can make hydrogen density up to 55 g/l, which is 30% higher than that of high-pressure hydrogen storage. It is the development trend of fuel cell hydrogen storage. With the technical advantages of traditional LNG equipment, the company complies with the development trend of new energy vehicles and vigorously develops the field of hydrogen equipment. Liquid hydrogen source material enters the big test stage, 30,000 tons hydrogen storage material project construction is ready for development.

The value of metal electrode in your platinum industry is prominent

The platinum industry is considered to be of interest in the metal electrode field of fuel cells. Wang qun, an analyst at fortune securities, believes that the company has a complete industrial chain system of precious metals, namely the three core business segments of new precious metals material manufacturing, precious metals resource recycling and precious metals commercial trade. Meanwhile, with the booming development of new energy vehicles, the company has laid out the exhaust catalyst business of hybrid electric vehicles. Wang qun long - term optimistic about the company's automotive exhaust catalyst business.

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