Industry perspective:
Carbon peak and carbon neutralization: first establish and then break, and promote the transformation of low-carbon energy. At 9:00 on March 5, the fifth session of the 13th National People's Congress opened at the Great Hall of the people in Beijing. Premier Li Keqiang delivered a government work report on behalf of the State Council. The government work report has made new arrangements and requirements for the energy and power industry, and set priorities and goals for the high-quality development of the energy and power industry in the new year. 1) Energy security is the premise. The government work report said that we should base ourselves on resource endowments, adhere to the overall plan of establishing first and then breaking down, and promote the low-carbon transformation of energy. 2) Energy consumption control indicators are more flexible. In 2022, there is no single index set for the decline of energy consumption intensity this year, emphasizing the overall assessment of the 14th five year plan, leaving appropriate flexibility, taking into account the coordinated development of energy consumption reduction and economic growth. 3) The flexibility transformation of thermal power is expected to accelerate. The report emphasizes the need to strengthen the clean and efficient utilization of coal, orderly reduction and substitution, and promote the transformation of energy conservation and carbon reduction, flexibility and heating of coal and electricity. 4) Pay equal attention to scenery development and consumption. The report said that we should promote the planning and construction of large-scale wind and solar power bases and their supporting regulatory power sources, and improve the consumption capacity of the power grid for renewable energy power generation. It is expected that the construction of Fengguang large base project, supporting transmission and distribution grid and regulatory power supply (flexible resources such as energy storage) will become the core part of the construction of new power system.
New energy power generation: the installed capacity has increased greatly at the beginning, and it is expected to increase by more than 30% in 2022. Recently, the National Energy Administration organized and held a national renewable energy development and construction situation analysis meeting in February, pointing out that the development of wind power photovoltaic in 2022 has made a good start, and the newly installed capacity of wind power photovoltaic in China exceeded 12 million kW in January. According to relevant data, the installed capacity in January 2022 has approached or exceeded that in the first quarter of 2021, reflecting the high outlook of the industry. In terms of wind power, the cost reduction process of the industry has exceeded expectations. The large-scale wind turbine has driven the unit single watt cost down by 20% - 30%, and the economy of wind power has increased. Since 2021, the bidding data of wind power has continued to exceed expectations. It is expected that the new grid connected amount of wind power in 22 years is expected to exceed 50gw. In terms of photovoltaic, taking into account the construction planning and project reserves of distributed pilot projects, general distributed projects, large scenic base projects and conventional ground power stations promoted by the whole county, it is expected that the new installed capacity of photovoltaic in China will exceed 80gw / year in 22 years. Overall, we expect that the installed capacity of China's new scenery in 22 years may exceed 130gw, a year-on-year increase of 30%.
New energy vehicles: it is proposed in the 2022 government work report to continue to support the consumption of new energy vehicles. The sales of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in the first two months of 2022 are very good, both of which have more than doubled. It is expected that the expected target can be achieved this year, which may be significantly higher than the expected target. There is still much room for growth in China's auto market. China has only 214 cars per thousand people, which is still far from developed countries. The statement of continuing to support the consumption of new energy vehicles in 2022 has released a positive signal that the new energy vehicle policy will maintain continuous stability. It is expected that the withdrawal of other supporting policies after the gradual withdrawal of new energy vehicle subsidies will not be too urgent, especially the purchase tax and other policies should continue to be implemented next year.
Important industry information:
The Ministry of science and technology and other nine departments issued documents to support the cooperation between the East and the West in the development of hydrogen energy industry. On March 4, the Ministry of science and technology and other nine departments issued the implementation plan for scientific and technological cooperation between the East and the West in the 14th five year plan, in which hydrogen energy pointed out that science and technology support Ning and build a leading area for scientific and technological cooperation between the East and the West; "Prospering Mongolia through science and technology" to support Inner Mongolia to take the path of ecological priority and green development; "Science and technology into Yunnan" will help the innovative development of multi-ethnic areas in the southwest frontier.
One week market performance:
Industry performance: among the 28 Shenwan level industries, the power equipment industry fell 3.54%, ranking 26th; The utility industry rose 1.85% this week, ranking fifth.
The performance of the top and middle sub sectors was 32.4% and 83.07%, respectively; The increase of battery chemicals, lithium batteries and power grid automation equipment ranked the last three, with - 8.98%, - 8.25% and - 5.68% respectively.
Growth of individual stocks: Among Listed Companies in the electric power and energy industry, Ningbo Energy Group Co.Ltd(600982) , Lanzhou Greatwall Electrical Co.Ltd(600192) , Nanjing Xinlian Electronics Co.Ltd(002546) , Chongqing Wanli New Energy Co.Ltd(600847) , Risen Energy Co.Ltd(300118) rose in the top five, up 31.90%, 13.77%, 13.69%, 12.99% and 12.40% respectively.
