Due to the frequent price reduction of new cars and the low residual value of old cars, domestic electric car owners don't know when they got used to laughing at themselves as "leeks". However, in the stock market, the birthplace of the word "leek", China's new energy car companies have been really proud recently.

how good is the market? Take Weilai as an example. If a car owner who bought ES6 in October last year used the car money to buy Weilai shares, now the money can be used not only to buy a car, but also to buy a suite in Beijing's Third Ring Road.

Up to now, two China enterprises have ranked among the top ten in the world's car market value, and both of them focus on new energy vehicles-BYD ranked fifth and Weilai ranked seventh. Among them, Weilai's share price is from the lowest of $1.15 at the end of last year to more than $4 now, and its total market value exceeds BMW and GM in one fell swoop, breaking through the $5 billion mark.

In addition, Tucki and Ideals, which are also listed in the US stock market, also performed well. Even though they fell back with the market trend on Friday, the overall share price rose by more than 8% and 3% respectively last week. The market value of both companies has exceeded $2 billion.

Mr. Bang couldn't help sighing when he saw that he had cleared the warehouse before the iPhone12 went on the market and got the Apple stock that was still trapped. Presumably, many people are also eager to move. On the one hand, they want to seize the opportunity with the car, on the other hand, they are worried that they will fall when they get on the bus and be cut off.

The stock market is risky, so you need to be cautious in investing. Teacher Bang can't tell you whether it will go up or down in the future. However, the logic behind the soaring stock price is still the general trend of accelerating the transformation of energy structure in the whole industry, and people have more expectations and imagination for emerging car companies than traditional enterprises.

if you want to get high marks, you have to study hard. In the simplest logic, the rise of stock price is inseparable from excellent company performance. In the past October, the report cards of the new car-making forces really looked worthy of the rising stock price:

Weilai Automobile delivered 5,55 new cars, up 1.12% year-on-year, and its monthly sales exceeded 5, for the first time. In the first ten months, the cumulative sales exceeded 3, units, and the growth rate doubled compared with last year.

Xpeng Motors delivered 3,4 new cars in October, even though it decreased by 12% compared with last month, it still increased by 229% year-on-year.

LI has delivered 3,692 Li ONE cars, setting a new monthly delivery record for three consecutive months, even though it was continuously affected by the broken axle.

However, experienced old investors know in their hearts that the stock price is related to the company's performance, but it does not necessarily have a particularly big relationship. You know, even if the enterprise is on the verge of bankruptcy, it is not uncommon for the "demon stock" whose stock price is still rising.

aside from the specific sales volume, judging from the recent market trends at home and abroad, new energy enterprises are also a bit like "pigs on the tuyere"-it is difficult to take off.

China's new energy market has been closely related to changes in national policies since its rise: the market has experienced ups and downs around policy changes such as state subsidies and restrictions on purchases in big cities. It was in early November that two new policies at different levels were introduced, which further warmed up the new energy market.

The first one is the stricter restriction policy in Shanghai. The policy stipulates that from November 2, from 7: to 2: every day, vehicles with license plates in overseas provinces and cities are prohibited from driving into the viaduct; After the May Day holiday in 221, from 7: to 1: and from 16: to 19: every day, foreign brand vehicles will be directly banned from entering the inner ring road in Shanghai.

This means that for foreign car owners in Shanghai, replacing green brand new energy vehicles seems to be the only choice. You know, relevant statistics show that there are 1.674 million passenger cars with license plates in other provinces and cities resident in Shanghai.

for a time, a Tesla store in Shanghai sold more than 8 cars in one morning, and the topic of # Shanghai's new energy vehicle sales surge # rushed to Weibo's hot search.

What's more noteworthy is that some media visited several popular brand stores in Shanghai and found that many prospective car owners were about 35 to 4 years old by visual inspection. This means that the people with the most purchasing power have also begun to choose new energy vehicles. Even if they are passively promoted by policies, in the long run, they will play an important role in the education market.

The Development Plan of New Energy Vehicle Industry (221-235) promulgated by the State Council in almost the same period further reassured the market from the top-level design-the Plan proposes that by 225, the sales volume of new energy vehicles will reach about 2% of the total sales volume of new vehicles, exceeding 5 million vehicles. Moreover, key technologies such as power battery, drive motor and vehicle operating system need to make major breakthroughs.

The restrictive policies to promote local sales blowout and the favorable policies for the whole industry at the national level, under the dual effects of one small and one large, one micro and one macro, have once again ignited investors' enthusiasm for the new energy sector and boosted the stock market.

the State Council's "Planning" is no longer just a subsidy policy at the implementation level, but a systematic plan for the supporting development of the new energy market. On the day of policy announcement, Contemporary Amperex Technology Co., Limited also hit a new high, with a market value exceeding 6 billion.

domestic sales and policies are both favorable, and the overseas investment environment is also thriving. Although the US election was full of twists and turns, Wall Street began to "celebrate" Trump's stepping down early: last week, the S&P 5 index, Nasdaq index and Dow Jones index rose by 7.3% and 9% and 6.9% respectively, all of which were the biggest weekly gains since April.

driven by the rise of the whole market, in addition to the three new car-making forces, there are actually traditional car companies such as General Motors, and even some investors have expressed such doubts on the Internet:

With the super benchmark such as Tesla, whose market value has risen to two Toyota, Wall Street analysts have shown very optimistic estimates about the new car-making forces in China. Take Weilai as an example. Citibank has raised its target price from $33.2 to $46.4, and maintained its "buy" rating.

The dust has almost settled in the US election. Biden defeated Trump, a diehard oil man, and a more "energy-saving and environmental-friendly" Democrat returned to the White House, which brought long-term benefits: Biden had promised to set stricter new fuel emission standards after taking office, restore the full tax credit for electric vehicles in the United States, and planned to invest 2 trillion US dollars to build 5, new public charging outlets in the United States by 23. These favorable policies have obviously given American investors the confidence to continue to be optimistic about new energy sources.

The soaring stock price will inevitably arouse people's worries about the bubble, and there are many precedents of shrinking market value in the automobile industry, including Ford, which has not been going well in recent years, and BMW, whose market value once exceeded $7 billion, but now it has fallen by more than 3%.

on the other hand, compared with the traditional car companies whose valuations are relatively stable and rational, the new car-making forces want to continue the trend of rising stock prices, and need new development models other than selling cars to give capital more imagination.

in terms of sales, except Tesla Model? In addition to 3, the best domestic sales in October was actually the Hongguang MINI that broke through 2,. EV and also more than 5, Euler black cats. In terms of stock price performance, the performance of SAIC and Great Wall is not comparable to BYD. Even though BYD's cumulative sales in the first 1 months fell by 15.98% year-on-year, its share price still hit record highs, and its market value exceeded 5 billion yuan in one fell swoop.

the logic behind this is obviously the organization that BYD has brought about more diversified businesses in a series of extremely long industrial chains, such as batteries, chips and even lithium mines, besides making cars. Judging from the fact that nearly 5% of BYD's revenue comes from non-automobile business, it also proves that its soaring market value is not only supported by making cars.

In addition, the expectation of capital for Tesla is far from just producing cars, but it is hoped that it will create more imagination space than traditional cars in energy, autonomous driving and the whole car software service ecology. With Apple's smart phone replacing the feature phone, the market is looking forward to the same change in the automotive field, which will change the profit of car companies from simple hardware sales to software ecological services with higher gross profit.

therefore, for the new domestic car-making forces, whether they can support the current market valuation, apart from maintaining good sales growth, intelligence and car networking are bound to be more critical tracks. As some industry analysts have pointed out: "The transformation of the automobile industry is a marathon without an end. If the biggest investment opportunities in the past 1 years are smart phones and mobile Internet, then the next 1 years will be smart electric vehicles plus car networking. "

■? State comments

As an individual consumer, we should still keep in mind that investment needs to be cautious. The reasons for the fluctuation of the stock market are complicated, far from being as simple as the rise of the stock price just because the sales volume of enterprises set a record.

The recent soaring stock prices and rising valuations cannot fully reflect the future performance of these new energy enterprises. What kind of investment philosophy to stick to and what kind of investment decision to make are ultimately everyone's own choices.

but from a macro perspective, the favor of capital will inevitably inject more vitality into the new energy market. In the long run, it will undoubtedly contribute to technological progress and industrial development. I only hope that after harvesting the affirmation from the capital level, the new car-making forces in China can make good use of opportunities and embark on a more efficient and innovative development path; Create more intelligent and high-quality electric products for consumers. Only in this way can we live up to the name of "new power" and bring greater changes and innovations to the century-old automobile industry.

This article comes from the author of Chejia, car home, and does not represent car home's standpoint.