Sub industry core week view
New energy: the price rise of photovoltaic continues. Although it is close to the critical point of negative feedback of Chinese demand again, the EU “brexit” plan may make overseas demand exceed expectations; A dynamic balance is formed among the expectation of component production scheduling, the marginal demand intensity of the terminal and the capacity release progress of the supply chain; In 2022, “50% volume increase + profit space expansion” is clear, and we will continue to see the record high of Q2 sector.
Hydrogen energy and fuel cell: EU REpower EU plans to accelerate the transformation of “electrification + hydrogenation” in Europe; The founder of Longji put forward the green development concept of “one piece of five and one party of hydrogen”, and the future of affordable green hydrogen can be expected; Sinopec MW electrolytic cell project was launched, and the layout of hydrogen energy industry by central enterprises was accelerated; Guofu hydrogen energy started a single set of 10 t / D liquid hydrogen storage project, which has entered a new level in the field of liquid hydrogen storage and transportation.
Power equipment and industrial control: since 2021q4, the investment in power grid has accelerated, the prosperity of the sector is high, and the upgrading and innovation of equipment technology is expected to accelerate. The leading companies in the industrial chain and the technical leaders in subdivided links will fully benefit, and are optimistic about energy storage, digitization, distribution network, amorphous transformer, intelligent operation and maintenance, power electronics, flexible DC and other links. In February, PMI continued to stay above the boom and bust line. In 2022, the demand for industrial control was better, and the valuation cost performance of industrial control sector was prominent.
Electric vehicles: in February, overseas sales continued to grow month on month, and the market maintained a high boom. Important industry events this week
New energy: the EU issued the REpower EU plan to accelerate the process of energy independence; The Ministry of housing and urban rural development issued the notice on the development plan of building energy conservation and green buildings in the 14th five year plan; Many provinces and cities plan to launch hearings on photovoltaic glass projects Longi Green Energy Technology Co.Ltd(601012) after a lapse of six years, equity incentive will be promoted again; The quotation of Tongwei battery continued to rise; Tongwei released the high growth business data from January to February; Poly GCL’s 20000 ton granular silicon project reached production capacity.
Hydrogen energy and fuel cell: EU REpower EU plans to accelerate the transformation of “electrification + hydrogenation” in Europe Longi Green Energy Technology Co.Ltd(601012) founder put forward the green development concept of “one piece of five and one side of hydrogen”; The first civil large-scale liquid hydrogen storage container of China’s hydrogen rich energy was officially started; Beijing Yanshan Petrochemical’s MW PEM membrane hydrogen production technology research and development project was officially approved and filed, and Sinopec’s own MW electrolytic cell project was launched.
Electric vehicles: the passenger Federation released the sales volume of new energy vehicles in February; Domestic Tesla raised prices across the board.
Power equipment and industrial control: none. Recommended portfolio of sub industries
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Risk tips:
The price competition in the industrial chain is more intense than expected; The effect of policy adjustment and implementation is lower than expected; The global epidemic worsened more than expected.
