The spirit of the collective learning conference of the Political Bureau of the CPC Central Committee comes down in one continuous line with the early ideas of the double carbon work, re emphasizes the importance and ideas of the double carbon work, and points out to strengthen the construction of a new energy supply and consumption system based on large bases; Maintain the rating that the industry is stronger than the market.
The Political Bureau of the CPC Central Committee focused on double carbon work in collective learning: the Political Bureau of the CPC Central Committee held the 36th collective learning on the afternoon of January 24 to strive to achieve the goal of carbon peak and carbon neutralization. When presiding over the study, the general secretary of the CPC Central Committee Xi Jinping stressed that we must deeply analyze the situation and tasks faced by promoting carbon peak and carbon neutralization, fully understand the urgency and arduousness of realizing the “double carbon” goal, study the key work that needs to be done well, unify ideas and understanding, and solidly implement the decision-making and deployment of the CPC Central Committee.
Promote the “double carbon work” and pay attention to dealing with four pairs of relations: Xi Jinping emphasize that to achieve the “double carbon” goal, we should pay attention to dealing with four pairs of relations: first, the relationship between development and emission reduction: while reducing carbon, ensure energy security, industrial chain supply chain security and food security, and ensure the normal life of the people; 2、 The relationship between the whole and the part: we should not only enhance the national awareness of a game of chess, but also fully consider the objective reality of regional resource distribution and industrial division of labor, and do not go in one step and “one size fits all”; 3、 The relationship between long-term goals and short-term goals: we should not only base ourselves on the present, but also take a long-term view, grasp the rhythm and intensity of carbon reduction, and seek truth from facts, step by step and continue to make efforts; 4、 The relationship between the government and the market: we should adhere to the two hands, promote the better combination of promising government and effective market, and establish and improve the incentive and restraint mechanism of “double carbon” work.
Strengthen the construction of a new energy supply and consumption system based on large bases: Xi Jinping pointed out that we should strengthen the planning and construction of a new energy supply and consumption system based on large-scale wind and solar power bases, supported by clean, efficient, advanced and energy-saving coal power around them, and supported by stable, safe and reliable UHV transmission and transformation lines. We should give more prominence to promoting the development of new and clean energy, and actively and orderly develop light energy, silicon energy, hydrogen energy and renewable energy.
The idea of safe carbon reduction and promoting dual control of carbon emission remains unchanged, which is expected to accelerate the increase of renewable energy: the expression of dual carbon work in the meeting is in the same line with the previous idea. The central economic work conference requires to increase the consumption capacity of new energy and promote the optimal combination of coal, carbon and new energy based on the basic national conditions of coal. Scientific assessment should be conducted to ensure that new renewable energy and raw material energy consumption are not included in the total energy consumption control, and conditions should be created to realize the transformation from “dual control” of energy consumption to “dual control” of total carbon emission and intensity as soon as possible. The action plan for carbon peak before 2030 points out that we should strive for time to realize the gradual substitution of new energy, promote the smooth transition of low-carbon energy transformation, ensure safe carbon reduction, and avoid one size fits all power and production restriction or sports carbon reduction. On October 8, the executive meeting of the State Council pointed out that the promotion of new renewable energy consumption will not be included in the total energy consumption within a certain period of time. The safe and reliable substitution of new energy will be mentioned at this meeting, which is expected to accelerate the installation of new renewable energy power generation.
Investment suggestion: the spirit of the collective learning meeting of the Political Bureau of the CPC Central Committee is in line with the early ideas of double carbon work, re emphasizes the importance and ideas of double carbon work, and points out that efforts should be made to build a new energy supply and consumption system based on large bases, so that there is no worry about the medium-term space of new energy power generation. In terms of photovoltaic, the price stage of the industrial chain stabilized, the production scheduling of the manufacturing industry improved, guided the release of follow-up demand, optimized the asset light subdivision direction to meet the challenges of the capacity cycle, and comprehensively promoted the industrialization of hjt and TOPCON batteries. In terms of wind power, the inflection point of wind power boom is advanced, the demand for offshore wind power may be accelerated, and the profit of wind power parts is expected to be repaired. It is recommended to pay attention to Ningbo Deye Technology Co.Ltd(605117) , Cybrid Technologies Inc(603212) , Jiangsu Pacific Quartz Co.Ltd(603688) , Kbc Corporation Ltd(688598) , Jiangyin Hengrun Heavy Industries Co.Ltd(603985) , Dajin Heavy Industry Co.Ltd(002487) Ming Yang Smart Energy Group Limited(601615) , Ningbo Orient Wires & Cables Co.Ltd(603606) etc.
Risk warning: price competition exceeds expectations; Adverse fluctuations in raw material prices; New energy policy risks; International trade friction risk; Technical iteration risk; Risk absorption; The cost performance of new photovoltaic technology does not meet expectations; Large scale cost reduction does not meet expectations; The impact of covid-19 epidemic exceeded expectations.
