Industry perspective:
Wind power generation: the two ministries and commissions issued documents to improve China’s energy green and low-carbon transformation system and mechanism. On February 10, the national development and Reform Commission and the National Energy Administration jointly issued the opinions on improving the institutional mechanisms, policies and measures for green and low-carbon energy transformation. According to the spirit of the document, China will continue to vigorously promote the development and utilization of clean energy, promote low-carbon energy as the main energy, encourage clean and low-carbon energy in industry, construction and transportation, and fully develop the scenery of deserts, Gobi, deserts and other areas, as well as distributed photovoltaic, decentralized wind power, biogas, biomass and other clean energy in rural areas, Support new energy power to be built, combined and generated as much as possible. At the same time, for the development of clean energy, the security has been reaffirmed again, and the spirit of “breaking before building” has been greatly reflected in the document. The new power system and the rational utilization of coal are the focus of ensuring the transformation of energy security. The document requires that based on the basic national conditions dominated by coal, give full play to the basic role of coal in the guarantee of energy supply according to different stages of energy development, and control and reduce coal in an overall, coordinated and orderly manner on the premise of safe power supply; It is required to formulate the development strategy and overall plan of new power system to meet the needs of new energy power development, and encourage all kinds of enterprises and other entities to actively participate in the construction of new power system.
Europe’s carbon price crisis continues to rise. Since 2022, the price of European carbon emission futures has continued to rise, with the highest breaking through 96 euros / ton. Since the beginning of 21, the price has increased by as much as 200%. In 2021, the energy crisis impacted the European natural gas market. Entering the European winter, the market supply became more tense. According to the data of the European Natural Gas Infrastructure Association, the European inventory was only 56% at the beginning of 2022, compared with 73% 12 months ago. According to the economic daily, the price of natural gas in Europe has risen by more than 600% since 2021. The rise in natural gas prices has pushed up the prices of electricity and heating, and the demand for coal power generation has increased. The increase in coal consumption has increased the demand for carbon emission rights in Europe and continued to push up prices. The rise of carbon emission trading price means that the cost of carbon emission of enterprises is getting higher and higher, which forces the accelerated development of clean energy, which will also be conducive to the development of forest carbon sequestration, carbon capture, energy-saving transformation projects and other industries.
Lithium battery: the Shanxi Guoxin Energy Corporation Limited(600617) automobile broke out, and the performance of power battery manufacturers was excellent. With the increasing sales of new energy vehicles in the global market, the demand for power batteries continues to grow. Among the top ten enterprises in the world in 2021, Chinese enterprises occupied 6 seats, namely Contemporary Amperex Technology Co.Limited(300750) , Byd Company Limited(002594) , China Innovation airlines, Gotion High-Tech Co.Ltd(002074) , honeycomb energy and vision power, with a total market share of 48.6%. China Shipbuilding Industry Group Power Co.Ltd(600482) battery concentration continues to rise. The top 10 power battery enterprises loaded 142.5gwh of power batteries, with a market share of 92.3%. We believe that China is the world’s largest new energy vehicle market and power battery market. The China Shipbuilding Industry Group Power Co.Ltd(600482) battery industry chain is complete, with 70% of the global battery production capacity and global product supply. The industrial competitiveness of China Shipbuilding Industry Group Power Co.Ltd(600482) battery will be difficult to shake in a considerable period of time. Chinese battery enterprises will continue to seize the market share in Europe and the United States. The overseas market revenue of Chinese battery enterprises such as Contemporary Amperex Technology Co.Limited(300750) , Eve Energy Co.Ltd(300014) , Gotion High-Tech Co.Ltd(002074) is also growing rapidly. Important industry information:
Gas price and electricity price fly together! Europe welcomes the most expensive winter in history. Recently, global energy prices have continued to rise, the supply and demand situation is tense, the prices of natural gas, thermal coal and oil have soared, and electricity prices in many countries have risen rapidly. The oil shortage in Britain, the gas shortage in the European Union, the tight supply of oil and electricity in the United States, large-scale power outages in India, Brazil, Lebanon and other countries, and the energy and power supply is facing severe challenges.
One week market performance:
Industry performance: among the 28 Shenwan level industries, the power equipment industry fell by 8.18%, ranking 28th; The utility industry rose 5.94% this week, ranking sixth.
Performance of sub sectors: among the sub sectors, thermal power generation, hydropower generation and motor III ranked among the top three, with 8.69%, 7.93% and 6.17% respectively; Lithium battery, special equipment for lithium battery and photovoltaic auxiliary materials ranked the last three, with – 14.58%, – 10.01% and – 9.20% respectively.
Growth of individual stocks: among listed companies of electric power and energy, Inner Mongolia Mengdian Huaneng Thermal Power Corporation Limited(600863) , Guizhou Changzheng Tiancheng Holding Co.Ltd(600112) , Jiangxi Special Electric Motor Co.Ltd(002176) , Huaneng Power International Inc(600011) , Chongqing Wanli New Energy Co.Ltd(600847) ranked among the top five, rising 23.13%, 21.43%, 18.74%, 17.16% and 14.94% respectively.
