The photovoltaic industry chain has entered the price reduction channel, and the demand is expected to be fully released. The asset light subdivision direction is preferred to meet the challenge of capacity cycle, and the industrialization of hjt and TOPCON batteries is promoted in an all-round way; The inflection point of wind power boom is ahead of schedule, the demand for offshore wind power may be accelerated, the supply chain of parts may be tight in stages, and the price of bulk raw materials is loose, which is expected to thicken the profits of the midstream manufacturing industry. The global prosperity of new energy vehicles continues to rise. Chinese battery and material enterprises accelerate the introduction into the global supply chain. The supply and demand of some links are expected to improve, the competition pattern of cells, diaphragms and other links is better, and new technologies promote the upgrading of the industrial chain. The construction of the new power system will be accelerated, and the investment structure of the power grid is expected to further tilt to UHV, intelligence and other fields, and the leading enterprises in all links are expected to benefit significantly. Maintain the rating that the industry is stronger than the market.
Plate market this week: the power equipment and new energy sector fell 8.18% this week, including nuclear power sector rose 1.74%, industrial control automation fell 1.22%, lithium battery index fell 1.85%, new energy vehicle index fell 2.24%, wind power sector fell 4.21%, photovoltaic sector fell 6.79% and power generation equipment fell 8.41%.
Key industry information this week: new energy vehicles: first finance and Economics: in the four trading days after the Spring Festival, the average price of battery grade lithium carbonate soared from 366000 yuan / ton to 400000 yuan / ton, with a cumulative increase of 9.3%. Evtank: in 2021, the global sales volume of new energy vehicles reached 6.7 million, with a significant year-on-year increase of 102.4%. The sales volume in the Chinese market reached 3.548 million, with a year-on-year increase of 160.1%. Looking forward to 2030, evtank expects the global sales volume of new energy vehicles to reach 47.8 million, accounting for nearly 50% of the sales volume of new vehicles in that year. SNE research: the installed capacity of global power battery in 2021 is 296.8gwh. Contemporary Amperex Technology Co.Limited(300750) the annual installed capacity reached 96.7gwh, and the market share increased to 32.6%. New energy power generation: the national development and Reform Commission and the National Energy Administration recently issued the opinions on improving the institutional mechanisms and policies and measures for green and low-carbon energy transformation. The opinions proposed that during the 14th Five Year Plan period, the institutional framework for promoting green and low-carbon energy development should be basically established, and a relatively perfect policy, standard, market and supervision system should be formed, Build a green and low-carbon energy transformation promotion mechanism led by the “dual control” of energy consumption and the target system of non fossil energy. The board of directors of poly GCL is studying and discussing the possibility of the company’s listing on stock exchanges in China, including the listing method, time and any offering plan.
Key information of the company this week: Eve Energy Co.Ltd(300014) : the company signed the strategic cooperation framework agreement with Huizhou Municipal People’s government, and the two sides will deepen strategic cooperation. Ja Solar Technology Co.Ltd(002459) : the company plans to invest 3.46 billion yuan in Vietnam’s 2.5gw crystal drawing and slicing project, Ningjin 1.3gw high-efficiency battery project, Yiwu 10GW module auxiliary materials supporting project and Tuquan 200MW photovoltaic energy storage and power generation project. Guangdong Jiayuan Technology Co.Ltd(688388) : it is proposed to invest 500 million yuan with Contemporary Amperex Technology Co.Limited(300750) to establish Guangdong Jiayuan Times New Energy Materials Co., Ltd. in Meizhou City, with 80% contribution from the company and 20% contribution from Contemporary Amperex Technology Co.Limited(300750) . Shanghai Hiuv New Materials Co.Ltd(688680) : the company disclosed the second phase of employee stock ownership plan. The total number of participants in this stock ownership plan is no more than 130, and the total capital is no more than 10.5 million yuan. Ganfeng Lithium Co.Ltd(002460) : the company and its wholly-owned subsidiary Ganfeng international signed a cooperation agreement with processminerals International Pty Ltd (PMI), which agreed that PMI would provide the company with spodumene underwritten in mtmarion spodumene project, and the company would process it into lithium compound products agreed by both parties, which would be sold by the company. Yangling Metron New Material Co.Ltd(300861) : Based on the original “single machine nine line” production line, the company continued to carry out efficiency improvement and transformation, and successfully implemented the technical upgrading of “single machine twelve lines”, with the production efficiency increased by 33% compared with the original “single machine nine lines”.
Risk warning: price fluctuation of raw materials; Price competition exceeds expectations; The growth rate of investment declined; Policies fail to meet expectations; International trade friction risk; The impact of covid-19 epidemic exceeded expectations.
