Market Review
In the current period (March 7-march 11), the CSI 300 fell 4.2% and the machinery sector fell 4.7%, ranking 19 among the 28 Shenwan industries. In terms of subdivided industries, semiconductor equipment increased the most, up 0.4%; Laser processing equipment fell the most, down 9.1%.
This week’s view
Focus on investment opportunities in the wind power sector under the background of “double carbon”.
As a renewable and clean energy, wind power has become the third largest power source in China after thermal power and hydropower. In recent years, China’s wind power industry has developed rapidly. Since the installed capacity of wind power exceeded 60GW in 2012, China has become the world’s largest wind power country and has been maintained so far. According to the data of the national energy administration, in 2021, the new installed capacity of wind power in China reached 47.57 million KW, with a cumulative installed capacity of about 328.48 million KW, a year-on-year increase of 16.6%. Previously, the Beijing Declaration on wind energy proposed that in the 14th five year plan, the development space for wind power must be set in line with the national strategy of carbon neutrality: to ensure an annual increase of more than 50 million kilowatts. After 2025, the annual installed capacity of China’s wind power should not be less than 60 million KW, at least 800 million KW by 2030 and at least 3 billion kw by 2060. It can be seen that in the next nine years, China’s wind power installed capacity will maintain an average annual compound growth rate of more than 10%. China’s China wind power enterprises one after another, with one of the “one belt, one road” call for opening up export space for China’s wind power enterprises, and the rapid development of Chinese wind power enterprises, leading enterprises have begun to export fans. We are optimistic about the growth of wind power leading enterprises.
Investment suggestions:
In the context of “double carbon”, with the continuous progress of wind power technology, the manufacturing cost and kwh cost of wind power are also declining rapidly, and the wind power industry is expected to develop rapidly in the future. Sany Heavy energy, Xinjiang Goldwind Science And Technology Co.Ltd(002202) , Ming Yang Smart Energy Group Limited(601615) , Zhejiang Windey Co.Ltd(300772) , Shanghai Electric Wind Power Group Co.Ltd(688660) , etc. are recommended.
Risk tips
Macroeconomic fluctuations, external demand fluctuations.
