2021.12. 20-2021.12. 26: the overall market performance is poor, and the power equipment and new energy sectors are poor. Among them, the CSI 300 index fell 0.67% to close at 4921.34 points, with a turnover of 1.38 trillion yuan. Over the same period, the power equipment and new energy industry decreased by 6.69% to close at 13464.36 points, with a turnover of 0.59 trillion yuan. In the secondary industry of electrical equipment, electrical equipment performed poorly, down 4.98%, and power equipment performed poorly, down 4.94%; Among the tertiary fine molecule industries, the nuclear power industry performed well, with an increase of 8.12%.
Core view
Photovoltaic: the first batch of large-scale wind and scenery base projects were announced, with a total scale of 97.05gw. The national development and Reform Commission and the National Energy Administration issued the notice on printing and distributing the list of the first batch of large-scale wind power photovoltaic base construction projects focusing on deserts, Gobi and desert areas. The first batch of large-scale wind power photovoltaic base projects involve 19 provinces such as Inner Mongolia, Qinghai, Gansu, Shaanxi, Ningxia and Xinjiang, with a total project scale of 97.06gw, of which 45.71gw will be put into operation in 2022, 51.34gw will be put into operation in 2023. Prices in the industrial chain continue to fall, waiting for demand to pick up. According to the statistics of silicon branch, PV InfoLink and solarzoom, the price of silicon continued to decline last week, with a decline of about 5%, and the prices of silicon wafers, cells and components decreased.
Wind power: China Three Gorges Renewables (Group) Co.Ltd(600905) it is proposed to build a 3gw offshore wind power project. On December 20, China Three Gorges Renewables (Group) Co.Ltd(600905) announced that it plans to invest 41.2 billion yuan to build the Three Gorges Yangjiang Qingzhou five offshore wind farm project, the Three Gorges Yangjiang Qingzhou six offshore wind farm project and the Three Gorges Yangjiang Qingzhou seven offshore wind farm project. The planned installed capacity approved by the three projects is 1GW, with a total of 3gw. During the project construction period, Qingzhou project plans to carry out the first foundation pile sinking in December 2021. Among them, Qingzhou 5 and 7 projects plan to be connected to the grid with full capacity in December 2024; Qingzhou 6 project is planned to be connected to the grid with full capacity in June 2024. On December 15, the 2021 new energy EPC project of Guangxi company of State Power Investment Group officially started construction. The total installed capacity of the project is 3.245gw, which is composed of 10 photovoltaic projects and 17 wind power projects. On the same day, the regional new energy project groups in Guilin, Eastern Guangxi and southern Guangxi also held a commencement ceremony, announcing the construction of 23 wind power and photovoltaic projects with a total installed capacity of 2.9gw and a total investment of 21 billion yuan in 8 counties (districts) of Wuzhou, Qinzhou and Guilin. The project group is preliminarily planned to be put into operation at full capacity by the end of 2023.
Industrial control: the industrial Internet policy continues to promote and has a strong momentum in the future. According to the data compiled by Mir, in 2020, the scale of China’s industrial Internet industry reached 680 billion yuan, driving the steady growth of industrial value-added, reaching 3.57 trillion yuan, accounting for about 3.51% of GDP; According to the Mir forecast data, from 2022 to 2023, the industrial scale will rise sharply, reaching 950 / 1140 billion yuan, driving the industrial value-added to 4.80/5.64 trillion yuan. According to the action plan for innovation and development of industrial Internet (2021-2023) issued by the Ministry of industry and information technology, by 2023, the new infrastructure of industrial Internet will advance in both quantity and quality, the new model and new business format will be promoted on a large scale, and the comprehensive strength of the industry will be significantly improved.
Investment proposal and investment object
The photovoltaic sector recommends Longi Green Energy Technology Co.Ltd(601012) (601012, buy), Tongwei Co.Ltd(600438) (600438, buy), Ja Solar Technology Co.Ltd(002459) (002459, buy), Shanghai Hiuv New Materials Co.Ltd(688680) (688680, buy), Hangzhou First Applied Material Co.Ltd(603806) (603806, buy). It is recommended to pay attention to Trina Solar Co.Ltd(688599) (688599, not rated); The wind power sector recommends Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) (300850, buy), Riyue Heavy Industry Co.Ltd(603218) (603218, overweight). It is recommended to pay attention to Titan Wind Energy (Suzhou) Co.Ltd(002531) (002531, Unrated), Dajin Heavy Industry Co.Ltd(002487) (002487, Unrated), Jiangyin Hengrun Heavy Industries Co.Ltd(603985) (603985, Unrated), Ningbo Orient Wires & Cables Co.Ltd(603606) (603606, Unrated). It is recommended to pay attention to Shenzhen Inovance Technology Co.Ltd(300124) (300124, not rated) in the industrial control section.
Risk statement
The growth of photovoltaic industry is less than expected; The growth of wind power industry is less than expected; The industrial control industry grew less than expected.
