Event overview
On December 31, 2021, the Ministry of industry and information technology, the Ministry of housing and urban rural development, the Ministry of transport, the Ministry of agriculture and rural areas and the National Energy Administration jointly issued the action plan for innovative development of intelligent photovoltaic industry (2021-2025) (hereinafter referred to as the plan).
Core view:
The plan of encouraging roof distributed photovoltaic investment with photovoltaic intelligent construction as the core proposes to promote the deep integration of photovoltaic industry and new generation information technology, accelerate the realization of intelligent manufacturing, intelligent application, intelligent operation and maintenance and intelligent dispatching, comprehensively improve the development quality and efficiency of China’s photovoltaic industry, and promote the realization of double carbon goals. It emphasizes the intelligent construction and encourages to continue to increase the investment in photovoltaic Construction:
1. Develop photovoltaic intelligence and support new power systems. The plan points out that it is necessary to develop a number of intelligent photovoltaic products for the construction of intelligent photovoltaic power generation, combined with the power demand of multi scenario terminals, and build a diversified product system of intelligent photovoltaic suitable for the roofs of rural self owned buildings. Among them, the integrated development of intelligent photovoltaic system has become the focus, including intelligent photovoltaic power generation terminal, intelligent photovoltaic key devices, intelligent photovoltaic system support tools, intelligent household photovoltaic system, intelligent optical storage system, intelligent photovoltaic technology coupling, etc. Intelligence has become an important development direction of photovoltaic, and hardware intelligence and system software manufacturers will continue to benefit.
2. Boost the dual carbon plan in various fields and encourage investment in roof distributed photovoltaic. The plan also points out that during the 14th Five Year Plan period, it will help the development of intelligent photovoltaic in the fields of industry, transportation, construction, agriculture and rural areas. In terms of construction, it will comprehensively promote the residential roof intelligent photovoltaic system in conditional urban and rural areas, encourage the new government to invest in public buildings and promote Cecep Solar Energy Co.Ltd(000591) roof system. Actively carry out the building construction demonstration of “light storage, direct and flexible” integrating photovoltaic power generation, energy storage, DC distribution and flexible power consumption. We believe that the plan will revive the development confidence of roof photovoltaic and continue to be optimistic about the related targets of distributed photovoltaic.
The intelligent construction of energy and power will continue to benefit from double carbon development and continue to recommend the energy it industry chain
The plan once again emphasizes the importance of photovoltaic development to the dual carbon plan. During the 14th Five Year Plan period, the benefit trend of photovoltaic intelligence is clear. We mainly recommend three leading intelligent enterprises in the power it chain:
1. Longshine Technology Group Co.Ltd(300682) : with distributed photovoltaic SaaS platform, it will resonate with other emerging businesses and bring long-term growth to the company. 1) Longshine Technology Group Co.Ltd(300682) has a distributed photovoltaic SaaS cloud platform, which mainly serves the roof distributed photovoltaic, helps the owner predict the roof photovoltaic power generation and connect the power grid, and will directly benefit from the intelligent construction of distributed photovoltaic. 2) In addition, Longshine Technology Group Co.Ltd(300682) stimulated by the construction of new energy, it has layout in charging pile aggregation platform, energy consumption management and other aspects, and emerging businesses will bring broad space to Lanxin.
2. Dongfang Electronics Co.Ltd(000682) : the distribution network market pattern may be centralized, and intelligent leaders will benefit. 1) The development of photovoltaic has increased the demand for intelligent distribution network. We believe that the distribution network market pattern will move from dispersion to concentration, and Dongfang Electronics Co.Ltd(000682) as the pioneer of intelligent dispatching and distribution network, the market share is expected to increase and go out of the industry alpha. 2) The company has laid out its energy storage business and has relatively mature capabilities in EMS and other links, which is expected to become the growth elasticity of the company.
3. Beijing Forever Technology Co.Ltd(300365) : benefit from the design and construction requirements of distributed power generation and incremental distribution network brought by new energy construction. 1) Beijing Forever Technology Co.Ltd(300365) traditional business electrical design software is leading in China, benefiting from the design / construction of photovoltaic front-end. 2) Henghua has arranged new energy BIM software + planning and design and other services, which is expected to achieve rapid growth in the field of distributed photovoltaic power station design and operation and maintenance, and drive the company’s performance into a new business cycle.
Investment advice
In energy development, intelligence and digitization are the top priority. It empowerment has been fully reflected in various energy sectors and sub industries. Continue to make core recommendations: energy SaaS leader Longshine Technology Group Co.Ltd(300682) , distribution network dispatching pioneer Dongfang Electronics Co.Ltd(000682) , domestic energy BIM software leader Beijing Forever Technology Co.Ltd(300365) . Other beneficiary objects include: State Grid Information&Communication Co.Ltd(600131) , Ygsoft Inc(002063) , Nari Technology Co.Ltd(600406) , China Southern network technology, Kodak automatic control, Zeyu intelligence, Shanghai Nenghui Technology Co.Ltd(301046) , Zhiyang Innovation Technology Co.Ltd(688191) , Runa Smart Equipment Co.Ltd(301129) , etc.
Risk statement
1) New energy power generation technology reform process is less than expected risk; 2) The construction of energy informatization is less than the expected risk; 3) Macroeconomic downside risks.
