New energy vehicles are undoubtedly a direction of demand determination, and it is very important to understand the industrial chain segmentation;
New energy vehicles mainly include three links: upstream lithium battery and motor raw materials, midstream motor, electronic control, battery and downstream vehicle, charging pile and operation. The battery industry chain in the middle reaches is complex, mainly composed of positive electrode, negative electrode, diaphragm and electrolyte. There are many cathode materials, including lithium ferrous phosphate, lithium cobaltate, lithium manganate and ternary lithium, and ternary lithium mainly refers to lithium nickel cobalt manganate? NCM also includes a small part of lithium nickel cobalt aluminate NCA, and the corresponding upstream raw materials are mainly lithium ore, cobalt ore, nickel ore and manganese ore. The negative electrode is mainly graphite, including artificial graphite and natural graphite, and the separator is mainly polyolefin material polypropylene? PP and polyethylene? The main component is PE, and the main component of electrolyte is lithium hexafluorophosphate.
Upstream enterprises: lithium battery raw material enterprises; Including Ganfeng Lithium, Tianqi Lithium, Huayou Cobalt, Fangda Carbon, etc., these upstream mining enterprises directly benefited from the demand, their performance soared, their share prices soared, surpassing all cyclical stocks, stepping out of the real new cycle and becoming the leading stocks.