Core recommended combinations: Ming Yang Smart Energy Group Limited(601615) , Shandong Fengyuan Chemical Co.Ltd(002805) , Tongwei Co.Ltd(600438) , Eve Energy Co.Ltd(300014) , Shandong Weida Machinery Co.Ltd(002026) , Fujian Nebula Electronics.Ltd(300648) , Ja Solar Technology Co.Ltd(002459) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Contemporary Amperex Technology Co.Limited(300750) , Gotion High-Tech Co.Ltd(002074) , Trina Solar Co.Ltd(688599) , Titan Wind Energy (Suzhou) Co.Ltd(002531)
New energy power generation:
Photovoltaic: focus on the reform of system and mechanism to escort the development of new energy. On February 10, the national development and Reform Commission and the National Energy Administration issued “opinions on improving the institutional mechanisms and policies and measures for green and low-carbon energy transformation”. Starting from the system, mechanism and policy, the document defines the tasks and responsibilities in the process of energy transformation. Put forward important requirements in terms of development region, power grid system, power system, energy security and financial support, and make a series of guidelines for the reform of system and mechanism for the development, construction, grid connection, consumption, transmission and application of new energy, so as to escort the development of new energy. It is recommended to pay attention to polysilicon material and battery chip faucet Tongwei Co.Ltd(600438) ; Component faucet Longi Green Energy Technology Co.Ltd(601012) , Ja Solar Technology Co.Ltd(002459) ; Large silicon chip faucet Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) ; Inverter taps Sungrow Power Supply Co.Ltd(300274) , Ginlong Technologies Co.Ltd(300763) , Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) ; Photovoltaic auxiliary materials: Hangzhou First Applied Material Co.Ltd(603806) , Flat Glass Group Co.Ltd(601865) ; Layout Jiangsu Akcome Science And Technology Co.Ltd(002610) , Suzhou Maxwell Technologies Co.Ltd(300751) , Shenzhen S.C New Energy Technology Corporation(300724) , Risen Energy Co.Ltd(300118) , Jolywood (Suzhou) Sunwatt Co.Ltd(300393) of the new technology route; Operation of photovoltaic power station: Jinko Power Technology Co.Ltd(601778) , Cecep Solar Energy Co.Ltd(000591) , Jiangsu Linyang Energy Co.Ltd(601222) .
Wind power: the quotation of wind turbine is 1600 yuan / kW, and the economy of installation is significantly improved. According to Fengmang energy news, on February 9, the wind turbine (including tower, anchor bolt, etc.) of China Resources Power Abaga banner beligutai 500MW wind power project was opened. The lowest quotation was 2002 yuan / kW (tower about 350-450 yuan / kW) of CRRC Zhuzhou Institute, the corresponding host quotation was only 1600 yuan / kW, and the host quotation of 1600 yuan / kW appeared in the industry. Considering the installation cost of other links of wind power, it is expected that the installation cost of wind power is expected to drop below 4 yuan / W in flat terrain. Considering the guaranteed acquisition hours of wind power in key areas for more than 1800h, the current yield of wind power installation has been significantly improved, which is expected to promote the significant growth of onshore wind power installation demand in the next two years. It is suggested to pay attention to the energy storage and nuclear power industry chain and join hands with the target Fujian Nebula Electronics.Ltd(300648) of Ningde energy storage ecosystem; Recommend Xinjiang Goldwind Science And Technology Co.Ltd(002202) , Ming Yang Smart Energy Group Limited(601615) and parts enterprises with rapid performance growth Titan Wind Energy (Suzhou) Co.Ltd(002531) , Shanghai Taisheng Wind Power Equipment Co.Ltd(300129) , Shandong Shuangyi Technology Co.Ltd(300690) , Jinlei Technology Co.Ltd(300443) , Riyue Heavy Industry Co.Ltd(603218) .
New energy vehicles: in 2021, the global power battery installed capacity was 296.8gwh, with a year-on-year increase of 102%, and the growth rate of Chinese enterprises was the leader; Xiaopeng automobile went to Europe and the first direct experience store in Sweden was completed. According to SNE research, the total installed capacity of global power batteries in 2021 was 296.8gwh, a year-on-year increase of 102%. From the perspective of branch manufacturers, Ningde, LG and Panasonic ranked among the top three, with installed capacity of 96.7gwh, 60.2gwh and 36.1gwh respectively. Byd Company Limited(002594) in 2021, the installed capacity was 26.3gwh, which continued to rank fourth in the world, and the gap between the installed capacity and that of Panasonic, which ranked third, was significantly narrowed. In terms of growth rate, Ningde + 167%, Byd Company Limited(002594) + 168%, AVIC lithium battery 132%, Gotion High-Tech Co.Ltd(002074) + 167%, honeycomb energy + 417%, which is much higher than the global growth rate and plays an obvious leading role. In terms of market share, CR3 = 65%, Cr5 = 80% and CR10 = 91% in 2021, which remained basically stable year-on-year in 2020. Structurally speaking, the market share of Contemporary Amperex Technology Co.Limited(300750) increased significantly, accounting for 33% of the world in 2021, an increase of 8 PCTs compared with 25% in 2020, while the shares of LG and Panasonic decreased by 3 PCTs and 5 PCTs respectively. The market share of Byd Company Limited(002594) was 9%, up 2pcts. Honeycomb energy was among the top ten for the first time, accounting for 1% of the world. On February 11, Xiaopeng automobile’s first direct experience store in Europe officially opened in Stockholm, Sweden, and began to go to the European market. Xiaopeng will adopt the retail mode of “direct sales + authorization” in Europe, cooperate with European dealers emilfrey NV group in the Netherlands and bilia group in Sweden, and gradually open up the sales network in the Netherlands, Denmark and Norway. In terms of recommendation, Contemporary Amperex Technology Co.Limited(300750) , Shanghai Putailai New Energy Technology Co.Ltd(603659) , Hunan Changyuan Lico Co.Ltd(688779) , Ningbo Ronbay New Energy Technology Co.Ltd(688005) , Shandong Fengyuan Chemical Co.Ltd(002805) , Shandong Weida Machinery Co.Ltd(002026) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Beijing Easpring Material Technology Co.Ltd(300073) , Cngr Advanced Material Co.Ltd(300919) , Hunan Zhongke Electric Co.Ltd(300035) , Shenzhen Dynanonic Co.Ltd(300769) , Yunnan Energy New Material Co.Ltd(002812) are recommended.
Risk tip: the installed demand of new energy is less than expected, the new energy power generation policy is less than expected, and the macro-economy is less than expected.
