Today (November 29), A-Shares opened low and went high. Gem took the lead in turning red and continued to rise; In the afternoon, the stock index fell down and the overall performance was relatively strong. On the disk, in terms of industry, lithium battery, aerospace, photovoltaic equipment, auto parts, power and other industries led the increase; Civil aviation airports, tourism hotels, cultural media, real estate and other industries declined. In terms of subject stocks, in vitro diagnosis, Tesla, large aircraft and biological vaccines led the increase, while online tourism, oil price related, horse racing concept and tax-free concept led the decline.
the photovoltaic equipment sector strengthened, and the inverter ushered in favorable policies. What are the core beneficiaries?
Today (November 29), individual stocks in the photovoltaic equipment sector rose collectively, with Cybrid Technologies Inc(603212) , Clenergy(Xiamen)Technology Co.Ltd(603628) , Crown Advanced Material Co.Ltd(688560) and other stocks leading the gains. On the news side, from the three quarterly data released earlier, the performance of photovoltaic equipment enterprises still maintained rapid growth. According to the data of Dongguan securities, the operating revenue of photovoltaic equipment sector in the first three quarters was 116.496 billion yuan, a year-on-year increase of 57.37%, and the growth rate increased by 21.37 percentage points year-on-year; The net profit attributable to the parent company was RMB 12.775 billion, with a year-on-year increase of 45.93%, and the growth rate decreased by 66.15 percentage points.
CICC highlights that the demand for photovoltaic inverters mainly comes from new installed capacity and stock replacement. Driven by the growth of demand in the photovoltaic industry and the acceleration of stock replacement demand, it is estimated that the photovoltaic inverter market space will be about 109 billion yuan in 2025. With rapid technological iteration and cost advantages, the global market share of domestic inverters continues to increase, and the market share of Chinese enterprises is about 59% of the top ten global shipments in 2020. Driven by the domestic production of core components superimposed on the scale effect, the cost of the inverter industry is expected to continue to decline, and the industry profit is expected to maintain a relatively stable level.
In terms of specific target, Soochow Securities Co.Ltd(601555) points out that Ginlong Technologies Co.Ltd(300763) benefits the most as the leader of global household inverter; Sungrow Power Supply Co.Ltd(300274) household consumption has increased sixfold this year, shipments have increased to 500000-600000 units, optimizer products have been launched, and it is planned to push them into the European market next year, bringing new growth space; Hemai shares and Ningbo Deye Technology Co.Ltd(605117) have been distributed and shipped in the micro reverse market, with 21h1 shipments of 169400 and 37400 units respectively. Strongly recommend: Ginlong Technologies Co.Ltd(300763) , Sungrow Power Supply Co.Ltd(300274) , Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) , and pay attention to Hemai shares and Ningbo Deye Technology Co.Ltd(605117) .
A-Shares are really tough! Anti epidemic concept stocks broke out, and many companies responded: the mutant strain
Omicron, a variant of covid-19 virus, stirred the global capital market, and the overseas market was alarmed. This morning, the stock markets in the Asia Pacific region, including a shares, once fell sharply at the opening. However, since then, the market declines have narrowed significantly, and some indexes have even turned to rise. The performance of the stock market is obviously stronger than the previous market expectations.
China International Capital Corporation Limited(601995) recent research points out that the transmission of subsequent Omicron variants and vaccine effectiveness are the key to judge whether the epidemic will escalate on a large scale and more serious than delta variation, and whether policies need to take more strict blockade measures, which will affect the judgment of global supply and demand, different markets and different assets.
China International Capital Corporation Limited(601995) believes that if the virus is effectively controlled in parts such as South Africa or only leads to a short and small upgrade in other regions, the vaccine protection is still very effective, and the specific drugs can make progress as soon as possible, it does not expect that the next round of epidemic will have too much impact on asset prices, economy and supply chain, But it will promote the willingness to vaccinate and strengthen vaccination.
strong rise of hydrogen energy
Driven by the policy, the hydrogen industry stands at the air outlet. According to insiders, the top-level design document of hydrogen energy is expected to be issued in the near future. China Securities Journal reporter found that hydrogen production from fossil energy is the main source of hydrogen production in China, accounting for more than 60%, but it has the “grey hydrogen problem” of high carbon emissions. With the rapid development of clean energy industry, the production of “green hydrogen” from electrolytic water has ushered in the dawn.
On November 18, the Ministry of transport issued the “14th five year plan” for the development of integrated transport services, proposing to speed up the planning, layout and construction of infrastructure such as charging, replacement and hydrogenation. Beijing, Shandong and other places have issued development plans and implementation plans for hydrogen energy industry, and formulated specific construction objectives. According to the implementation plan for the development of hydrogen energy industry in Beijing (2021-2025), 10 to 15 leading enterprises in the industrial chain with international influence will be cultivated by 2025, and the industrial scale of hydrogen energy industrial chain in Beijing, Tianjin and Hebei will reach more than 100 billion yuan.
According to the data of China hydrogen energy alliance, by 2025, the output value of China’s hydrogen energy industry will reach 1 trillion yuan, the demand for hydrogen will be close to 60 million tons, and the carbon dioxide emission reduction will be about 700 million tons. Hydrogen energy is considered as a promising secondary energy with the advantages of clean, low carbon, high calorific value and high conversion rate. The development of hydrogen energy is of great significance for energy conservation and emission reduction, deep decarbonization and improvement of utilization efficiency in the energy field. The hydrogen energy industry chain involves a wide range of links, including upstream hydrogen production, midstream storage and transportation and downstream application.
the e-cigarette regulatory agency believes that it is good for the advantageous manufacturers in these three aspects
E-cigarette supervision boots finally landed. On November 26, the State Council issued a decision on Amending the regulations for the implementation of the tobacco monopoly law of the people’s Republic of China. One article was added as Article 65 of the regulations: “electronic cigarettes and other new tobacco products shall be implemented with reference to the relevant provisions of these regulations.” Experts said that this means that the e-cigarette industry is officially incorporated into the tobacco regulatory system, and there will be laws for the future development of the industry, which is expected to bid farewell to the disorderly growth.
Tianfeng Securities Co.Ltd(601162) believes that: (1) e-cigarette has a formal identity and the industry has entered the stage of orderly supervision; (2) E-cigarettes and other new types of tobacco are included in the sales system of China tobacco, and policies and norms are carried out along the direction of strengthening China Tobacco supervision; (3) After being incorporated into tobacco management, China tobacco pipe has two ends of nicotine and tobacco sales, and continues to pay attention to the promotion of tax and other detailed rules; (4) After the management department is determined, various standards, such as the national standard of electronic cigarettes, production standards, sales channels and other detailed rules will be gradually determined; (5) Benefit manufacturers with high production standards, high-tech reserves and high capital reserves. It is recommended to pay attention to Anhui Genuine New Materials Co.Ltd(603429) , Smallworld international, Shenzhen Jinjia Group Co.Ltd(002191) .
the price of lithium carbonate rose steadily in November. It is expected that there is still room for rise in the short-term price (with shares)
According to the price monitoring of business agency, the market price of industrial grade and battery grade lithium carbonate in East China continued to rise steadily in November, and the rising momentum accelerated slightly near the end of the month. As of November 26, the average price of industrial grade lithium carbonate in East China was 192000 yuan / ton, which increased by 5.03% compared with the average price at the beginning of the month (the average price of industrial carbon in East China was 182800 yuan / ton on November 1). On November 26, the average price of battery grade lithium carbonate in East China was 202200 yuan / ton, which increased by 6.09% compared with the average price at the beginning of the month (the average price of carbon in East China was 190600 yuan / ton on November 1). Until the 26th, the comprehensive price of industrial grade lithium carbonate was 187000-195000 yuan / ton, and the comprehensive price of battery grade lithium carbonate was 194000-22000 yuan / ton.
The business society believes that the end of the year is approaching, and the advance of the Spring Festival holiday next year makes the purchasing sentiment in the downstream market relatively positive, and some enterprises have entered the state of raw material reserves. The superimposed market demand gap is still, and the short-term lithium carbonate price is expected to have upward space.
In terms of A-share investment, Kaiyuan Securities pointed out that it is expected that the tight supply and demand situation of the global lithium industry will be difficult to change from 2021 to 2022, and lithium mines are easy to rise but difficult to fall under the rigid gap. According to the calculation, it is expected that the tight supply and demand situation of the global lithium industry will be difficult to change from 2021 to 2022, and lithium mines are easy to rise but difficult to fall under the rigid gap. On the supply side, the new capacity of global lithium resources is limited in the short term, and the supply shortage has been basically determined. On the demand side, the downstream demand represented by new energy vehicles is accelerating. According to the calculation, the global lithium supply and demand balance is expected to reach + 5.4, + 1.0, – 2.3 and + 53000 tons of LCE respectively from 2020 to 2023, and the tight balance will continue to be maintained from 2021 to 2022. The lithium price is expected to continue to strengthen, and lithium mining enterprises are expected to fully benefit, mainly including Ganfeng Lithium Co.Ltd(002460) , Tianqi Lithium Corporation(002466) , Yongxing Special Materials Technology Co.Ltd(002756) , Chengxin Lithium Group Co.Ltd(002240) , Qinghai Salt Lake Industry Co.Ltd(000792) , Keda Industrial Group Co.Ltd(600499) , Tibet Summit Resources Co.Ltd(600338) .
soliciting opinions on the management measures for the development and construction of photovoltaic power generation is beneficial to the listed companies related to photovoltaic power station projects
According to the national energy administration, in order to further optimize the development and construction management of photovoltaic power plants and promote the sustainable and high-quality development of photovoltaic power generation industry, relevant units were organized to revise and form the management measures for development and construction of photovoltaic power generation (Exposure Draft) on the basis of the Interim Measures for project management of photovoltaic power plants.
According to the draft, the annual development and construction plan of photovoltaic power station can be divided into guaranteed grid connection scale and market-oriented grid connection scale according to national requirements. If all localities determine the indemnificatory grid connection projects or market-oriented grid connection projects in batches, they shall disclose the relevant information to the public in time. For projects not included in the annual development and construction plan of photovoltaic power station, the power grid company shall not handle the power grid access procedures. The competent energy departments at all levels are encouraged to adopt the management method of project library and do a good job in the project reserve of photovoltaic power plants.
Sinolink Securities Co.Ltd(600109) pointed out that the measures are a policy update based on the Interim Measures for the management of photovoltaic power station projects issued in 2013, including: 1) delegating the approval authority of photovoltaic power stations to the provincial energy bureaus, and the provinces can determine the construction scheme according to the renewable energy planning and consumption, which is conducive to the development of photovoltaic projects according to local conditions and shorten the approval process; 2) More strict and detailed requirements are made for the approval and commissioning cycle of power grid, and power generation enterprises are allowed to invest in supporting transmission projects, which is conducive to shortening the project cycle and reducing the consumption pressure of grid connection; 3) It has planned and guided the policies issued by local governments and competent energy departments, clarified the powers and responsibilities, helped to avoid industry chaos, optimized the business environment, better guided the development of photovoltaic in the era of parity, and effectively guaranteed the realization of the double carbon goal.
