Today's A-share new energy sector rebounded sharply, charging pile concept shares rose to the top, Tonghe Technology harvested 20cm long legs, Shenghong shares, An reliance on smart electricity, Kosta, etc. rose more than 10%.

In recent years, the new energy vehicle ownership and technology level is rapidly improving, more and more consumers choose to drive new energy vehicles to open travel on the go, and more use of the scene of charging infrastructure construction has raised higher requirements. Coupled with the approaching "May Day" holiday, new energy vehicle charging services have become the focus of attention.

On April 24, the National Energy Administration and the Ministry of Transport jointly issued a notice on the work of guaranteeing the charging service of new energy vehicles during holidays, requiring the provincial energy (charging facilities) authorities to actively work with relevant departments to increase the construction of public charging facilities in accordance with the implementation of the Opinions on Further Improving the Service Guarantee Capability of Electric Vehicle Charging Infrastructure. Accelerate to make up for the shortcomings in the construction of counties and towns, and promote the construction of charging facilities in tourist attractions and surrounding parking lots.

With the high increase in sales of electric vehicles, the construction of charging piles after-market has been accelerated in recent years.

In 2020-2022, domestic new energy vehicle sales will be 1.32, 3.51, and 6.88 million units, with year-on-year growth rates of 10%, 165%, and 97%, and sales of 9.5 million units in 2023 are expected to be +39% year-on-year. It is expected that 2023 will be the year of high growth in obc charger sales.

Domestically, it is expected that the new increase of charging piles (public on board charger + private piles built with cars) will be 2.592 and 7.889 million in 2022 and 25 respectively, with a compound growth rate of 45%, which is higher than that of 27% for electric vehicles, including 65 and 2.228 million new public piles, with a compound growth rate of 51%; 1.942 and 5.904 million new private piles (built with cars), with a compound growth rate of 45%; globally In 2022 and 25, it is expected that the public charger station will increase to 880,308,000, with a compound growth rate of 51%, of which the United States is growing faster, reaching 115%.

CITIC Capital points out that 2021-2022 is the highest growth rate of domestic electric vehicle sales for two years, while the charging pile, as an important supporting facility in the electric vehicle after-market, will usher in the highest growth rate stage slightly later than electric vehicles, and 2023 is expected to be the year of high growth of on board charger sales. High-voltage fast charging + high-current water-cooling technology drives the value of core components such as charging modules and charging guns/lines to rise.

Beneficial targets:

For U.S. stocks, as of March 31, 2023, Energy Chain Smart (NAAS)$ has connected 55,000 charging stations and 575,000 charging guns; in the first quarter of 2023, Energy Chain Smart's charging volume reached 1.023 billion degrees and total transaction volume reached RMB990 million yuan, up 112% and 107% year-on-year, respectively, and the number of orders reached 44.4 million. The number of orders reached 44.4 million, an increase of 110% year-on-year. Energy Chain Smart estimates that net income will be between RMB 500 million (US$72 million) and RMB 600 million (US$87 million) in FY2023, a 5.4 to 6.4 times increase year-over-year.

As for A-share, Crestec is in the first echelon of domestic charging pile enterprises, with 120KW and 300KW high-power integrated four-gun flexible charging pile; "charging - operation and maintenance - data resource sharing - service" industry chain; signed charging pile procurement projects with Haima Automobile and Xiaopeng Automobile; products entered the real estate's enterprises such as Cinnamon Park and Vanke Suppliers; charging pile products revenue accounted for 5.5%.

Shenghong share $ Shenghong share (SZ300693)$ is a professional charging equipment manufacturer, with DC pile, AC pile, AC-DC hybrid pile full range of charging products. The company provides charging pile products for Xiaohua charging, the price of different models of charging piles varies according to the configuration