Is the chip's new energy?

On September 7, the market was narrowed in a narrow range. The Shanghai Composite Index rose slightly by 0.09%. The performance of the GEM finger was relatively strong, up 1.19%. From the perspective of the market, the growth sector performed well on September 7. The chips and new energy sectors were favored by market funds. The consumption sector performed relatively sluggish, and the breeding, food and beverages and other sectors fell on September 7. At the level of stocks, it rose and half on September 7.

In terms of quantity, the total transaction value of the two cities on September 7 was about 870 billion yuan. In terms of northbound funds, a small net outflow of 3.374 billion yuan on September 7 was the fifth consecutive trading day continued to net outflow. Among them, the Shanghai stocks were not.

Recently, the flow of funds in the north direction, the data comes from Wind

In terms of plates, the chip plate increased on September 7, and the chip ETF (512760) rose 2.24%, with a transaction value of about 490 million yuan.

In terms of news, the United States has a big move in the chip field. It is reported that the US government has released a chip investment plan worth $ 50 billion (about RMB 350 billion). According to relevant documents, more than 28 billion U.S. dollars will be used for subsidies and loans for advanced chip manufacturing, assembly and packaging facilities; in addition, 10 billion U.S. dollars are used to expand existing special chip production facilities such as automobiles and communications, and and with and with, and and with, and and with, and with,, with, and other special chips, and with,, and with,, and with,, and the communication facilities such as communication, and such as, and such as communication, The semiconductor industry's research and development of funds reached $ 11 billion. The U.S. plans to accept chip company applications (chip investment plans) funds at the latest in February 2023, and may start appropriation in the spring of 2023.

In China, relevant meetings were held on September 6, which reviewed and passed the "Opinions on the New Type System for Keeping Key Core Technology Under the conditions of socialist market economy". This "Opinions" aimed at my country's industries, economy and Several key areas and major tasks of national security, which naturally includes the chip field of "card neck", which reflects the country's determination and emphasis on the development of the chip industry.

Back to the industry's fundamentals, China Merchants Securities believes that the current chip demand side still shows a structural differentiation trend. The consumer demand represented by mobile phones is still weak, and the demand for segments such as cars, photovoltaic, and servers is relatively highlights. At the level of valuation, after deep adjustment in the early stage, the PE valuation of the chip sector is only about 42 times at present, and it is at the lowest level of valuation in history.

In the short term, the fundamentals of the chip will still be affected by the shrinking demand. Long -term long -term can consider setting the chip ETF (512760) in a fixed or batch method. (For details, see "The chip continues to be short in short")

From Wind

On September 7, the new energy sector performed well. The ETF (159806) of new energy vehicles rose 1.87%, and the increase of photovoltaic 50ETF (159864) was nearly 3%of the market. As of the closing, it also rose by 1.05%.

In terms of cars, new energy vehicle companies have announced the sales data of August. BYD DM models, interrogations, and Ji Yan have increased well month -on -month. Tesla's production line has been upgraded and sales recovers. Recently, the BYD frigates 07 and Tang DM-P were listed on the market. In the early stage, more pre-sale orders have accumulated more pre-sale orders. The new energy vehicle market is expected to continue to highlight.

In terms of photovoltaic, CITIC Securities analysis believes that as the industrial power supply in Sichuan region has resumed normal, it is expected that the supply of silicon material will gradually release climbing in September, and the municipal production will also improve. It is expected to appear. In addition, Huatai Securities pointed out that with the application and promotion of TOPCON battery film technology, and the continuous reduction of HJT and perovskite stack batteries, the demand for battery pads/component equipment is expected to rise.

The relevant targets of subsequent new energy sectors can still continue to pay attention, such as new energy vehicles ETF (159806), photovoltaic 50ETF (159864), and 50ETF (159861) that takes into account lithium and photovoltaic carbon and photovoltaic carbon. Characteristic, match with your own risk tolerance.

- END -