The resilience of PV demand outside China exceeded expectations. After the recent adjustment, the valuation fell and ushered in the layout time point. The target whose performance is expected to maintain a high growth rate is preferred to meet the challenges of the capacity cycle, and new battery technologies such as hjt and TOPCON are promoted in an all-round way; The inflection point of wind power boom is advanced, the demand for offshore wind power may be accelerated, and the supply chain of parts and components may be tight at different stages. The global prosperity of new energy vehicles continues to rise, and the sales data are bright. Chinese battery and material enterprises accelerate the introduction into the global supply chain. The supply and demand of some links are expected to improve, the competition pattern of cells, diaphragms and other links is better, and new technologies promote the upgrading of the industrial chain. The construction of the new power system will be accelerated, and the investment structure of the power grid is expected to further tilt to UHV, intelligence and other fields, and the leading enterprises in all links are expected to benefit significantly. Maintain the rating that the industry is stronger than the market.
Plate market this week: the power equipment and new energy sector fell 0.56% this week, of which the photovoltaic sector rose 2.04%, the power generation equipment fell 1.98%, the lithium battery index fell 4.18%, the nuclear power sector fell 4.52%, the wind power sector fell 4.63%, the new energy vehicle index fell 4.68%, and the industrial control automation fell 6.55%.
Key industry information this week: new energy vehicles: Passenger Federation: in February, the wholesale sales of new energy passenger vehicles reached 317000, with a year-on-year increase of 189.1% and a penetration rate of 21.8%. In February, the loading volume of power battery was 13.7gwh, including 5.8gwh of ternary battery, with a year-on-year increase of 75.6%, and 7.8gwh of lithium iron phosphate battery, with a year-on-year increase of 247.3%. China Innovation Airlines plans to submit its listing application to the Hong Kong Stock Exchange as early as this week, and plans to raise up to $1.5 billion (about 9.48 billion yuan). New energy power generation: the Ministry of housing and urban rural development issued the notice on the development plan of building energy conservation and green buildings during the 14th five year plan, proposing the plan of building photovoltaic installation of 50gw during the 14th Five Year Plan period. According to the energy plan released by the EU, the EU is expected to realize the total installed capacity of 1000gw Cecep Solar Energy Co.Ltd(000591) power generation in 2030.
Key information of the company this week: Longi Green Energy Technology Co.Ltd(601012) : the company plans to grant a total of 37.54 million shares to 2484 incentive objects, accounting for 0.69% of the total share capital Suzhou Maxwell Technologies Co.Ltd(300751) : the company made a profit of 643 million yuan in 2021, with a year-on-year increase of 62.97% Tongwei Co.Ltd(600438) : the company achieved a profit of about 3.3 billion yuan from January to February 2022, with a year-on-year increase of about 650% Ja Solar Technology Co.Ltd(002459) : the company plans to invest in the development and construction of “green photovoltaic new energy base” in Qujing City in the next six years, with a total investment of about 10 billion yuan Eve Energy Co.Ltd(300014) : ① the subsidiary Yiwei power plans to invest in the construction of 20gwh square lithium iron phosphate battery and 48gwh power energy storage battery production line and auxiliary facilities in Jingmen high tech Zone. ② The company plans to use its own funds of 150300 million yuan to repurchase shares, and the repurchase price shall not exceed 129.00 yuan / share. ③ The company issued the ninth employee stock ownership plan, with an upper limit of 180 million capital and no more than 3300 people Beijing Easpring Material Technology Co.Ltd(300073) : ① the company made a profit of 1.091 billion yuan in 2021, with a year-on-year increase of 183.54%. ② From January to February 2022, the company achieved a profit of about 230 million yuan, with a year-on-year increase of about 113.91% Shenzhen Senior Technology Material Co.Ltd(300568) : from January to February 2022, the company realized a net profit attributable to the parent company of about 95 million yuan, with a year-on-year increase of about 160% Guangzhou Tinci Materials Technology Co.Ltd(002709) : from January to February 2022, the company achieved a profit of about 860 million yuan, with a year-on-year increase of about 470% Ningbo Shanshan Co.Ltd(600884) : the company’s profit from January to February 2022 was about 566 million yuan, with a year-on-year increase of about 313% Shenzhen Dynanonic Co.Ltd(300769) : the company expects to make a profit of 801 million yuan in 2021, with a year-on-year increase of 291898% Xinjiang Daqo New Energy Co.Ltd(688303) : the company expects to sell 3700038000 tons of polysilicon in 2022q1, with a year-on-year increase of 72.33% – 76.98% Kbc Corporation Ltd(688598) : it is expected to achieve a profit of 190210 million yuan in 2022q1, with a year-on-year increase of 146.10% – 172.00% Hunan Changyuan Lico Co.Ltd(688779) : the company plans to issue convertible corporate bonds to unspecified objects to raise funds of 3.25 billion yuan, which will be used for the second phase of the company’s project to expand the production of cathode materials for automotive lithium batteries, the project with an annual output of 60000 tons of lithium iron phosphate and supplement working capital.
Risk warning: price fluctuation of raw materials; Price competition exceeds expectations; The growth rate of investment declined; Policies fail to meet expectations; International trade friction risk; The impact of covid-19 epidemic exceeded expectations.
