Core view
Market review: last week, the power equipment sector (Shenwan industry 2021) closed at 112939 points, up 4.3%. The Shanghai Composite Index closed at 3451.4 points, down 1.1%; Shenzhen Component Index closed at 134129 points, down 0.3%; Gem closed at 2855.8 points, up 1.0%. In the sub sections, photovoltaic equipment, power grid equipment and other power supply equipment all rose, of which photovoltaic equipment increased the most, up to 8.9%, and wind power equipment decreased by 0.6%. Among the wind industry indexes, the photovoltaic index increased the most, reaching 6.4%; The wind power index rose the least, at 1.3%. In terms of individual stocks, the top five gainers were: Wuxi Shangji Automation Co.Ltd(603185) up 24.07%, Jolywood (Suzhou) Sunwatt Co.Ltd(300393) up 21.45%, Trina Solar Co.Ltd(688599) up 19.22%, Shouhang High-Tech Energy Co.Ltd(002665) up 18.49%, Wuxi Autowell Technology Co.Ltd(688516) up 18.27%. In terms of key stocks in the sector, the top three companies in the photovoltaic industry were Wuxi Shangji Automation Co.Ltd(603185) , Trina Solar Co.Ltd(688599) , Qingdao Gaoce Technology Co.Ltd(688556) , with an increase of 24.07%, 19.22% and 13.89% respectively; Liancheng CNC fell 4%. In the wind power industry, the top three companies were Riyue Heavy Industry Co.Ltd(603218) , Jiangsu Zhongtian Technology Co.Ltd(600522) , Ningbo Orient Wires & Cables Co.Ltd(603606) , with increases of 3.17%, 3.06% and 1.80% respectively. In the power grid equipment and industrial control automation industry, Nari Technology Co.Ltd(600406) increased the most, 3.44%, and Shenzhen Megmeet Electrical Co.Ltd(002851) decreased the most, 4.25%; Among new energy operators and other industries, China Three Gorges Renewables (Group) Co.Ltd(600905) rose by 2.21%.
Industry chain price tracking: in terms of photovoltaic industry chain price, the price of silicon material and silicon wafer is still high this week. The price of polysilicon this week was 248 yuan / kg, up 0.40% from last week. In terms of silicon wafers, the prices of the first and second tier manufacturers of single crystal 166 silicon wafers were 5.50 and 5.45 yuan / piece respectively, up 2.80% and 2.83% respectively compared with last week; The prices of the first and second tier manufacturers of single crystal 182 silicon wafers were 6.55 and 6.50 yuan / piece respectively, up 1.39% and 2.36% respectively compared with last week. In terms of battery chips, the first and second-line prices of single crystal perc166 were 1.10 yuan and 1.09 yuan / W, which remained unchanged compared with last week. The average price of silicon rose slightly to 0.38 million yuan a week ago.
Industry focus: LG Electronics decided to withdraw from Cecep Solar Energy Co.Ltd(000591) battery panel business; In 2021, China’s exports of silicon wafers, batteries and components reached a record high; State power investment and Trina Solar Co.Ltd(688599) signed a strategic cooperation agreement. 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).
Risk warning: the sales of new products are less than expected; The Sino US trade war intensified; Industry competition intensifies risks.
