Events
On March 15, 2022, the Shanghai Composite Index closed at 306397 points, down 4.95%; The Shenzhen composite index closed at 1153724 points, down 4.36%; The power sector index closed at 288092 points, down 6.72%. Among them, the photovoltaic power generation sector fell as a whole; Shenyang Jinshan Energy Co.Ltd(600396) limit in thermal power sector.
Comments
Today, the two cities continued their downward trend, with the Shanghai composite index falling below 3100 points and the power sector leading the decline. Recently, the 2022 government work report was officially released. The formal report has made changes to the expression of energy and electricity, adding contents such as strengthening the construction of pumped storage power stations, supporting biomass energy and developing green finance. In terms of energy security, the government work report added “continue to ensure the supply and price stability of energy and important raw materials”. The intermittence and instability of new energy bring certain risks to power supply and hinder the large-scale development of new energy. The development of energy storage industry can promote the orderly transformation of energy system. As one of the energy storage methods, pumped storage power station is of great significance to promote the consumption of new energy and ensure energy security. In addition, the improvement of green financial measures also provides a lot of financial support for the green development of enterprises. We believe that green transformation enterprises still have long-term development capacity.
Industry dynamics
1. Center International Group Co.Ltd(603098) recently received the letter of acceptance, confirming that the company and suntexing (Shenzhen) Green Energy Technology Co., Ltd. won the bid for the roof distributed photovoltaic power generation project of the ownership company of Shandong heavy industry group. Among them, sente green energy is a wholly-owned subsidiary of the company. The bid winning amount of the project is about 800 million yuan, accounting for 25.37% of the audited operating revenue in Center International Group Co.Ltd(603098) 2020. (OFweek Cecep Solar Energy Co.Ltd(000591) photovoltaic network)
2. The general office of the people’s Government of Inner Mongolia Autonomous Region issued the opinions on promoting the high-quality development of wind power photovoltaic new energy industry in the region. The opinions pointed out that: coordinate the scientific allocation of wind and solar resources, establish a diversified grid connection mechanism, give priority to supporting market-oriented grid connection consumption projects that are fully self used and do not occupy the peak shaving space of the power grid, and orderly organize indemnificatory grid connection consumption projects. (Polaris power grid)
Company dynamics
Anhui Conch Cement Company Limited(600585) ( Anhui Conch Cement Company Limited(600585) ): Anhui Conch Cement Company Limited(600585) acquired Anhui Conch new energy Co., Ltd. in August 2021. In order to speed up the development of the company’s new energy industry, create a new industrial growth pole, practice the green development strategy, implement the national carbon peak and carbon neutralization policies, and promote the company to accelerate industrial transformation and upgrading, The company has formulated the following investment plans for the development of new energy business in 2022: in 2022, the company will invest 5 billion yuan to develop new energy businesses such as photovoltaic power stations and energy storage projects, so as to realize the full coverage of photovoltaic power generation in subordinate factories. It is expected that by the end of 2022, the installed capacity of photovoltaic power generation will reach 1GW and the annual power generation capacity will reach 1 billion kwh. (company announcement)
Risk tip: the epidemic fluctuation is higher than expected, and the installed capacity of new energy is lower than expected.
