代表绿色的新能源车是否是名正言顺的ESG领导者？

1 2 20221019 3 2003712020619007000101411 A631430 ESGTSLA.O(002594.SZ, 1211.HK) “ESG(XPEV.K, 9868.HK)NIO (LI.O)ESG(601238.SH, 2238.HK)VWAPYESG7A 4 MioTech AMIESG62100ESGBB25% , 5 Refinitiv Eikon 20221018 20216.9:1ESG2022930 200319952012622Model SModel XModel 320219320082014201520212021 6 20209ID2030Aion AMIAESG ESG66100ESGBBESGESGESGDDD/CBBESG62ESG25% 22-24EPS2024PE(x)31~4482.9% 2024PEx5~9 ESG/CSR/ 7 1999-2002/ESG 2018(Impact)201520202021ESG2020ESG2022419ESG2022930ESG ESG2021 8 20221018 22E 23E 24E 22E 23E 24E 22E 23E 24E 22E 23E 24E 1W 1M YTD 002594.SZ 273.67 97,643 74.1 43.7 32.1 114.3 69.7 36.0 0.1 0.2 0.3 10.4 15.5 18.4 4.3 1.2 2.1 NIO 12.21 20,396 n.a. n.a. 44.2 n.a. n.a. n.a. 0.0 0.0 0.0 (27.5) (11.6) 11.1 (5.2) (41.6) (61.5) LI.O 18.92 19,890 n.a. 86.6 33.1 n.a. n.a. 162.0 0.0 0.0 0.0 (2.0) 3.6 9.8 (7.2) (25.0) (41.1) XPEV.K 8.60 7,412 n.a. n.a. n.a. n.a. n.a. n.a. 0.0 0.0 0.0 (21.1) (16.0) (2.8) (9.9) (45.0) (82.9) TSLA.O 220.19 689,959 53.9 37.3 30.8 89.2 44.6 21.1 0.0 0.0 0.0 33.1 35.4 32.8 1.4 (28.8) (37.5) 601633.SH 27.52 26,512 28.4 22.2 17.1 2.8 28.4 29.4 1.6 2.0 2.5 13.5 15.5 17.5 2.2 (8.2) (43.3) 601238.SH 12.62 15,126 12.2 10.8 9.3 29.2 13.7 15.5 2.2 2.6 2.7 10.9 11.4 12.1 2.7 (3.3) (16.9) VOWG.DE 170.80 76,038 5.2 5.3 5.0 (11.4) (1.7) 4.4 4.8 5.4 6.0 11.6 10.8 10.8 6.5 (15.8) (33.9) Refinitiv Eikon 9 2021 2021 2000 GHG 10 “” 2021 0.6tCO2e0.39tCO2e, 55% 2021 11 70%““ —— 151316%77%127 2021 ESG2021 1 Volkswagen Group. Pg. 47, Sustainability Report 2021 [J/OL] 2022, https://www.volkswagenag.com/presence/nachhaltigkeit/documents/sustainability-report/2021/Nonfinancial_Report_2021_e.pdf 12 ESG2050 GHGScience Based Target initiativeSBTiSBTi 2025 13 ESG 14 EPR 240 1.5%0.99 15 2016Amnest InernationalNGO -- 16 300750.SZ002460.SZ 2021 17 2. 20212867AMI“” 39 N/A 3 45 20 0 N/A 72 N/A 8 0 2 0 N/A AMI 0N/A 18 80% ESG2A 2021 ESG 32 [J/OL] 2022, https://finance.sina.com.cn/stock/s/2021-06-10/doc-ikqciyzi8907398.shtml 3 [J/OL] 2022, http://auto.sina.com.cn/news/hy/2019-07-16/detail-ihytcerm3963085.shtml 19 AMI 0 20 3. ESG – ESGESGESGESGESG ESG * ESGESG ** ESGESG2021CSRESGESGESGESG/ ESGESGESGESG4 4 Lora Kolodny, Why Tesla was kicked out of the S&P 500′s ESG index [J/OL] 2022, https://www.cnbc.com/2022/05/18/why-tesla-was-kicked-out-of-the-sp-500s-esg-index.html 21 ESG199920102012ESGGRISASB/ISSBUNGC SDGsTCFD ESG ESG ESGESGESGESG 22 ESG MioTech AMI ESGESGESG 23 fay.wu@miotech.com jiaye.pan@miotech.com jack@miotech.com https://www.miotech.com/zh-CN/research 24