Key investment points:
Market review: Shenwan power equipment industry fell 8.18% last week, 9.01 percentage points lower than Shanghai and Shenzhen 300 index, ranking 31st among Shenwan 31 industries. The first three stocks in the power equipment sector rose weekly were Guizhou Changzheng Tiancheng Holding Co.Ltd(600112) , Jiangxi Special Electric Motor Co.Ltd(002176) and Chongqing Wanli New Energy Co.Ltd(600847) respectively, and the three companies rose by 21.43%, 18.74% and 14.94% respectively. In terms of valuation, as of February 11, 2022, the PE TTM of the power equipment sector was 43.44 times and the Pb TTM of the power equipment sector was 5.62 times.
Zhou viewpoint of power equipment industry: Recently, the national development and Reform Commission and the National Energy Administration issued the opinions on improving the system, mechanism and policy measures for green and low-carbon energy transformation (the opinions), which mentioned that we must accelerate the improvement of the system and mechanism conducive to green energy consumption and promote the green transformation and upgrading of energy consumption structure. We should highlight the basic orientation of the transformation of energy structure to non fossil energy. On the one hand, we should accelerate the construction of large-scale wind power and photovoltaic power generation bases. On the other hand, we should promote the development and utilization of renewable energy nearby and improve the price policy supporting distributed clean energy power generation. The Opinions also put forward measures to improve the protection system of nuclear power and pumped storage plant (site) sites and ensure it in the land space planning, which is conducive to solving the problems of protection and management coordination of nuclear power and pumped storage plant (site). It is recommended to pay attention to Tongwei Co.Ltd(600438) (600438); Hangzhou First Applied Material Co.Ltd(603806) （603806）； Flat Glass Group Co.Ltd(601865) （601865） ； Longi Green Energy Technology Co.Ltd(601012) （601012） ； Ming Yang Smart Energy Group Limited(601615) （601615） ； China National Nuclear Power Co.Ltd(601985) （601985） 。
Risk warning: macroeconomic fluctuations affect downstream demand; The price of the industrial chain has risen sharply; Risks such as intensified industry competition; Electricity demand is less than expected; The construction of new energy power generation is less than expected.
