Core view
Market review: last week, the power equipment sector closed at 10256.7 points, down 8.2%. The Shanghai Composite Index closed at 3462.9 points, up 3.0%; Shenzhen Component Index closed at 13224.4 points, down 0.8%; Gem closed at 2746.4 points, down 5.6%. Among the sub sections, wind power, power grid and other industries all fell, with wind power equipment falling the most, up to 7.1%, and other power supply equipment falling the least, up to 1.7%. Among some wind industry indexes, the photovoltaic glass index rose 1.2% and the photovoltaic index fell 3.2%. In terms of individual stocks, the top five gainers were: St Tiancheng rose 21.43%, Qingdao Huijintong Power Equipment Co.Ltd(603577) rose 14.93%, Dalian Insulator Group Co.Ltd(002606) rose 13.33%, Gcl System Integration Technology Co.Ltd(002506) rose 12.54%, Harbin Air Conditioning Co.Ltd(600202) rose 11.32%. In terms of key stocks in the sector, in the photovoltaic industry, Tongwei Co.Ltd(600438) and Henan Hengxing Science & Technology Co.Ltd(002132) rose slightly this week; In the wind power industry, Baosheng Science And Technology Innovation Co.Ltd(600973) and Dajin Heavy Industry Co.Ltd(002487) rose slightly; Among power grid equipment and industrial control automation, Henan Pinggao Electric Co.Ltd(600312) increased the most, with an increase of 3.96%, Tbea Co.Ltd(600089) and Shenzhen Inovance Technology Co.Ltd(300124) increased by 2.63% and 1.87% respectively; Among new energy operators and other industries, Hongda Xingye Co.Ltd(002002) and China Three Gorges Renewables (Group) Co.Ltd(600905) rose by 2.32% and 0.73%.
Industry chain price tracking: in terms of photovoltaic industry chain price, the price of silicon material and silicon wafer rebounded slightly this week. The price of polysilicon this week was 245 yuan / kg, up 0.82% from last week. In terms of silicon wafers, the prices of the first and second tier manufacturers of single crystal 166 silicon wafers were 5.35 and 5.30 yuan / piece respectively, up 0.94% and 2.91% respectively compared with last week; The prices of the first and second tier manufacturers of single crystal 182 silicon wafers were 6.46 and 6.30 yuan / piece respectively, up 0.94% and 2.44% respectively compared with last week. In terms of battery chips, the first and second-line prices of single crystal perc166 were 1.09 and 1.08 yuan / W, which remained unchanged compared with last week. The weekly average price of metal silicon rose slightly, up 036 yuan / ton compared with the previous week.
Industry focus: eight departments including the Ministry of industry and information technology promote the emerging solid waste comprehensive utilization technology of waste photovoltaic modules; Auto giants enter polysilicon and aim at the whole industry chain; U.S. photovoltaic module manufacturers asked to investigate the transfer of Chinese manufacturers to other countries for tax avoidance; India has imposed 40% and 25% basic tariffs on imported photovoltaic modules and batteries since April; The United States announced that the photovoltaic import tariff was extended for four years, and the threshold was raised from 2.5gw to 5GW.
Investment suggestions: focus on Henan Hengxing Science & Technology Co.Ltd(002132) (photovoltaic diamond wire), Baosheng Science And Technology Innovation Co.Ltd(600973) (offshore wind power submarine cable) Roshow Technoiogy Co.Ltd(002617) (silicon carbide substrate), Hongda Xingye Co.Ltd(002002) (hydrogen energy). (reverse the order)
Risk warning: the sales of new products are less than expected; The Sino US trade war intensified; Industry competition intensifies risks.
