5 years 7 times!Missing the photovoltaic electric vehicle, the portable storage energy must be seized!

The entrepreneurial version of the portable energy storage leader Huabao Xinneng (301327.SZ) finally launched the first shot.

In the early morning of September 27, Huabao Xinneng's stock price rose rapidly, once rose 6%, and drove related portable energy storage concept stocks such as Paineng Technology (688063) and Xinghui (300464). Speed ​​pioneer.

Huabao Xinneng was listed on the GEM of the Shenzhen Stock Exchange on September 19. In the previous new shares subscription session, the stock was unanimously optimistic about the market institution: effective online subscription was as high as 4678 times, and the super -raising funds exceeded 4.9 billion yuan.

However, due to the recent continuous killing and falling in the A -share market and generally poor performance of new stocks, Huabao Xinneng did not go out of gorgeous markets like market expectations. After 6 days of adjustment, today, the volume finally rose up and returned to the issuance price, which not only made all investors involved in the subscription profit, but also drove the strengthening of relevant concept stocks. Does this indicate that the market that belongs to Huabao Xinneng will be fully developed?

Historical experience tells us that the key to whether the stock market can make a profit is whether it adheres to long -term value investment, not short -term speculative trading; a good company is underestimated due to the sluggish market, which is often a strategic buying point for long -term value investment.

The far -reaching energy vehicle leader BYD (002594.SZ), near the photovoltaic rookie Homai (688032.SH); they have performed poorly in the general period due to the low market. Time push, its value will eventually be discovered by the market: the former created a super big cattle market for ten years, and the latter also successfully doubled during the year. Others include Guizhou Maotai, Chinese Chemistry, etc., countless. And their common points: either the industry leader is very growing or the industry is very good.

As a "global portable energy storage brand" and has created the "3 years of 7 times the 7 times" brilliant performance of revenue, it does not need to say more about its high growth. Then, it was dragged down by the market last week and did not get out of the beautiful market like market expectations. Will today's volume rise, will it be its prelude to the BYD long -style big cow?

The application scenario broke out, the strongest gold track is here ...

Huabao's new energy is a brand enterprise in the field of portable energy storage; this portable energy storage field is a branch field of the most popular photovoltaic energy storage track in recent years. In recent years, it is showing a high -speed development trend.

Depending on the scene, we can generally divide the energy storage track into different fields such as portable, households, industrial and commercial, and power grids. The essence of portable energy storage products is the small energy storage system of built -in high -energy density lithium batteries. It can be used as a stable DC or AC voltage output power supply. It is mainly used in outdoor travel and emergency disaster preparation. Due to the advantages of new demand for adapting power markets and solving the pain points of the consumption of power from the network, in recent years, portable energy storage products have been favored by consumers, and they have shown a vigorous development at home and abroad.

Linking data DataYES! Statistics show that in 2021, global portable energy storage volume accounted for 43.6%, emergency scenarios accounted for 41.5%, and other scenarios accounted for 14.9%. Two major application scenarios.

In fact, "blowouts" have recently appeared in outdoor activities based on self -driving surrounding tours, and this is the main reason for detonating the portable energy storage market. According to the statistics of the China Tourism Research Institute, the surrounding tour market in 2021 surged. From January to May 2021, the number of self-driving travelers in China was 270 million, an increase of 105.8%year-on-year, and it was restored to 108.1%in the same period in 2019. Essence

It is the outbreak of the two major application scenarios of outdoor activities and emergency preparations that market institutions are optimistic about the future development prospects of portable energy storage. The leading securities company CITIC Securities shouted the view that "the industry scale is expected to increase by 7 times in the next 5 years".

CITIC Securities pointed out in the research report that since 2018, the portable energy storage industry has entered a high -speed growth. According to the statistics of high -industry lithium energy energy, the industry shipped around 4.838 million units in 2021, a year -on -year+131.7%, and the sales amount reached 11.13 billion yuan , Year-on-year+161.3%, shipments and amounts of shipments, amounts of amounts of 2016-2021 CAGR+147%, 184%. At present, the industry is in the early stages of development. Outdoor travel+power reserve demand is still huge, and the penetration rate is low. The supply side energy storage policy is frequent, and the cost is expected to decline in the medium term. The industry's future space is huge.

Therefore, CITIC Securities emphasized in the investment proposal that portable energy storage is a new blue ocean branch of the energy storage market. The industry is in a high -speed development period. It is expected that the industry scale will increase by 7 times in the next 5 years. The industry leaders, such as Huabao Xinneng, etc.

The competitive advantage is obvious

Huabao Xinneng's "one brother" status

CITIC Securities may have certain uncertainty about the "5 -year improvement of 7 times" in the portable energy storage industry, but Huabao Xinneng, which focuses on its recommendation, has achieved a "Great Leap Forward for the Great Leap Forward in the past three years. "".

Public information shows that Huabao's new energy is the leading portable energy storage brand company in the industry. Adhering to the mission of "making green energy everywhere" and the vision of "becoming the most trusted green energy brand in the world" R & D, production and sales of energy storage products and its supporting products. Linking data DataYES! Statistics show that the total operating income from Huabao Xinneng from 2019 to 2021 is about 319 million yuan, 1.070 billion yuan, and 2.315 billion yuan; in just three years, the performance has been 7 times. According to the China Chemical and Physical Power Industry Association, the top five companies in the industry in 2020 are Huabao Xinneng, Zhenghao Technology, Goalzero, Delan Minghai, and Anke Innovation; Looking at the scale of revenue scale (21.0%), Huabao Xinneng's market share is all over the industry leader, and it is a well -deserved leader in the global industry.

Why can Huabao Xin be the leader in the industry? In the prospectus, Huabao Xin can believe that he has five competitive advantages, namely independent brands and marketing advantages, research and development and technical advantages, M2C business model advantages, product quality and design advantages, and strategic layout advantages.

And the independent brand and marketing advantages, and the advantages of M2C business models are undoubtedly the two major weapons of its victory in the market, and it is also a moat to protect its future growth.

First of all, portable energy storage is a consumer -level energy storage track. Its end users are C -end consumers. They have natural consumer goods attributes, and the industry is in the early stage of development. The brand awareness is extremely important for sales and customer viscosity. Therefore, whether it has a global independent brand product will be the key to whether the company can succeed.

Huabao Xinneng is undoubtedly aware of this. As early as 2016, the company took the lead in launching lithium battery portable energy storage products worldwide, and based on domestic and foreign cultural differences, we made every effort to create two independent brands of "Jackery Electric Errobia" and "Genener" to promote the global brand strategy: with the help of Amazon channels The first to open up the US market and continuously open up the Japanese and European markets.

With the successful construction of global brand influence, under the premise of high -end+high -quality unit price, the company's outdoor power products have remained in the world. For example, since 2020, the company's portable energy storage products have continued Selected by the Amazon platform best -selling products (Best Seller) and Amazon's Choice; during the PRIMEDAY in 2022, the "Jackey" brand even reached the best -selling list at the US, Britain, Germany, Japan's Amazon sites.

It is worth noting that, unlike previous Chinese products grabbing global market share based on price advantages, the Huabao New Energy score and sales of Amazon did not originate from the price. This not only confirms the market viewpoint of "the value chain of the consumer -grade energy storage track, but also focuses on the brand side", but also fully illustrates the global consumers to the Huabao New Energy Brand ("Jackery Electric Primary two" and "Genener" ) Highly recognized, and the company is also expected to benefit from the premium brought by the brand effect for a long time.

In fact, this brand premium effect can be seen everywhere in the commodity market. For example, Hermes' bags, Apple's mobile phones, Nike's shoes, etc. This is the brand premium effect, and now Huabao's new energy is similar to Hermes in the field of portable energy storage.

If the shaping of global well -known brands has laid the leading position of Huabao Xinneng's industry; then, the company's integrated M2C business model from R & D, production, and sales of the company is the key to improving its profitability. Where.

M2C is ManufactuRERS to Consumer. It refers to the business model that provides consumers directly to consumers or directly serves consumers by the manufacturer. The result is bound to improve the efficiency of the company's brand products to consumers, and it is easier to be in the market in the market Find your own exclusive customers; at the same time, it also greatly improves the gross profit margin of the product.

Speaking of M2C's business model, Tesla can be described as the top flow of this model. Tesla adopts the sales model of online direct sales and experience stores, giving customers a full right to experience and choosing a certain product independently, and this model saves the agency channel costs purchased by customers; Ecosystems from many links such as car buying, use to warranty, and value -added. Once the customer chose Tesla, he agreed with Tesla and entered the ecosystem it created, and eventually became the ceiling in electric vehicles.

This is exactly where Tesla's success. Huabao Xinneng, who holds the two major advantages of independent brands and M2C business models, makes people see the shadow of Tesla's early growth. Will it also get out of the growth path like Tesla? It is undoubtedly worth looking forward to.

The wind should be a good look

Since the industry is currently the hottest track, and it is the leading industry of the industry, Huabao New Energy, which is a new energy titles on the top of the head, has been released in June 2021. Attacks the market.

After 6 days of consolidation, the market seems to finally understand the potential value of Huabao Xinneng. In the early morning of September 27, the stock price rose 6%to return to the issuance price, so that all investors participating in the purchase made all profit, and the transaction volume was effectively enlarged. Ke innovation rises. The long -awaited Huabao Xinneng began to get out of its own market. We know that judging whether a stock price has investment value requires a comprehensive price -earnings ratio, total market value of the same type of stocks, and factors such as the status of related companies in the industry. According to the prospectus, there are currently three listed companies related to Huabao's new energy storage industry. Because Hua Baoxin has the leading position of the industry, its valuation should enjoy a certain premium compared to these three companies.

A very simple example, such as Hermo shares listed last year, the issue price of 557.80 yuan/share was once called "the most expensive new shares". It was a breakthrough. But now, the stock price has risen to more than 1,000 yuan. In addition, the Pai Neng Technology of the same sector has been in the market for a long time due to the high issuance price when it was listed in 2020, but now it looks at the current price of nearly 400 yuan, which is also over 100 yuan at the beginning of the year. 3 times.

The performance of Huabao New Energy, which is extremely eye -catching in the subscription session of the new shares, has a brighter market after listing, which depends to a large extent on its development prospect. So, how do market mainstream institutions view the valuation and development prospects of Huabao Xinneng?

Linking data DataYES! Statistics show that in the past month, a total of 4 securities firms have issued a promising research report on Huabao's new capacity, and agreed that it is a leading enterprise in the field of portable energy storage, with broad development prospects and valuation advantages.

Among them, Lu Ming analysts of open source securities are expected to have a net profit of 380 million yuan, 572 million yuan, and 827 million yuan from 2022-2024, and the current stock price corresponds to 53.2 times, 35.4 times, and 24.4 times, respectively. He pointed out that Huabao New Energy is a leading enterprise in the field of portable energy storage, and at the same time, it is worth looking forward to in the field of family energy storage. It is expected to enjoy a certain high valuation and give "buy" rating.

Listen to Moon Lou/Wen

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