Events
On March 2, 2022, the Shanghai Composite Index closed at 348419 points, down 0.13%; The Shenzhen composite index closed at 1334696 points, down 1.05%; The power sector index closed at 328465 points, up 0.14%. Among them, the top three companies in the photovoltaic power generation sector are: ST Colin ( Kelin Environmental Protection Equipment Inc(002499) . SZ, 3.67%), Shenzhen Sunrise New Energy Co.Ltd(002256) ( Shenzhen Sunrise New Energy Co.Ltd(002256) . SZ, 1.80%), Beijing Jingyuntong Technology Co.Ltd(601908) ( Beijing Jingyuntong Technology Co.Ltd(601908) . Sh, 1.71%). The top three companies in the thermal power sector are: Top Energy Company Ltd.Shanxi(600780) ( Top Energy Company Ltd.Shanxi(600780) . Sh, 1.76%), Huadian Energy Company Limited(600726) ( Huadian Energy Company Limited(600726) . Sh, 1.57%), Jinneng Holding Shanxi Electric Power Co.Ltd(000767) ( Jinneng Holding Shanxi Electric Power Co.Ltd(000767) . SZ, 1.50%)? comment
Recently, the national development and Reform Commission held a teleconference to make comprehensive arrangements for further improving the coal market price formation mechanism. The meeting called for strengthening the expected management of the coal market, improving the production and circulation cost investigation system and market price monitoring system, standardizing the behavior of price index and guiding the reasonable return of prices; We should strengthen the supervision of coal and electricity markets, strengthen the linkage supervision of futures and spot markets, antitrust supervision and price supervision and inspection, and investigate and deal with price violations in a timely manner. Previously, the national development and Reform Commission announced a reasonable range of medium and long-term transaction prices in coal mining links in key areas. Among them, Shanxi (5500 kcal) is 370570 yuan / ton, Shaanxi (5500 kcal) 320520 yuan / ton, Mengxi (5500 kcal) 260460 yuan / ton and Mengdong (3500 kcal) 200300 yuan / ton. Under the strong regulation of the state, the price of thermal coal has stabilized and fallen in the near future, and the coal price will gradually return to a reasonable range in the long run. Improving the coal price formation mechanism is conducive to market stability and promoting the coordinated and healthy development of the industrial chain. In addition, the control of coal price will help to improve the profitability of coal-fired power generation enterprises and provide guarantee for the stable supply of energy.
Industry dynamics
\u3000\u30001. The 14th five year plan for the development of coal industry in Inner Mongolia Autonomous Region was printed and issued: we will resolutely guarantee the national coal supply, promote the implementation of orderly growth of scale, reasonable release of production capacity and flexible adjustment of output, and steadily promote the continuation of coal mine projects in full combination with the national industrial policies and coal supply and demand, so as to ensure the stability of coal supply and stable economic operation. Strictly enforce the access standards for new, reconstructed and expanded coal mines. In principle, the production capacity of new underground coal mines shall not be less than 3 million tons / year, and that of reconstructed and expanded coal mines shall not be less than 1.2 million tons / year. (Polaris power grid)
\u3000\u30002. Yichang energy development “14th five year plan” released: it refers to the clean substitution and orderly development of thermal power. Actively implement the relevant national and provincial requirements for resolving the risk of overcapacity of coal and electricity, reasonably arrange the exit sequence of backward coal and electricity, actively support the construction of cogeneration projects, and build a thermal power system with reasonable layout, clean and efficient and strong guarantee. (Polaris power grid)
Company dynamics
China Suntien Green Energy Corporation Limited(600956) ( Gd Power Development Co.Ltd(600795) ): the company has recently completed the issuance of the first phase of green ultra short-term financing bonds in China Suntien Green Energy Corporation Limited(600956) 2022. The current ultra short-term financing issue amount is 500 million yuan, the term is 270 days, the unit face value is 100 yuan, the issue interest rate is 2.40%, and the interest will be calculated from February 28, 2022. (company announcement)
Risk tip: the epidemic situation fluctuates more than expected, and the price of raw materials fluctuates sharply.
