The resilience of PV demand outside China exceeded expectations. The recent adjusted valuation fell and ushered in the layout time point. After the supply bottleneck is lifted, the demand may exceed expectations. The target whose performance is expected to maintain a high growth rate is preferred to meet the challenges of the production 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 0.15% this week, including lithium battery index rose 0.92%, new energy vehicle index rose 0.13%, photovoltaic sector fell 2.98%, nuclear power sector fell 3.52%, industrial control automation fell 3.68%, power generation equipment fell 5.04% and wind power sector fell 6.39%.
Key industry information this week: new energy vehicles: deployment of the Ministry of industry and information technology to guide the rational return of lithium salt prices. Argonne laboratory: in February, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in the United States was 59554, with a year-on-year increase of 68.9%, and the penetration rate of new energy vehicles was 5.66%. Samsung invested in building the world’s first solid-state battery pilot production line. The price of Tesla modely Standard Edition increased by about 15100 yuan, which is the third price increase of Tesla this month. New energy power generation: China Southern Power Grid: by 2030, promote the installed capacity of scenery in the five provinces and regions of South China to reach more than 250 million KW. Ministry of Finance: steadily and orderly promote carbon peak and carbon neutralization; We will promote the settlement of the funding gap for subsidies for renewable energy power generation.
Key information of the company this week: annual report of 2021: Hangzhou First Applied Material Co.Ltd(603806) (profit of 2.197 billion yuan, up 40.35% year-on-year; deduction of non-profit of 2.140 billion yuan, up 40.67% year-on-year)), Xinjiang Daqo New Energy Co.Ltd(688303) (profit of 5.724 billion yuan, up 448.56% year-on-year; deduction of non-profit of 5.707 billion yuan, up 447.79%), Cngr Advanced Material Co.Ltd(300919) (profit of 939 million yuan, up 123.48% year-on-year; deduction of non-profit of 769 million yuan, up 121.57%). 2021 performance express: Ganfeng Lithium Co.Ltd(002460) (expected profit of RMB 5.175 billion, with a year-on-year increase of 405.03%), Yunnan Energy New Material Co.Ltd(002812) (expected profit of RMB 2.718 billion, with a year-on-year increase of 143.60%). 2021 Business Briefing: Nari Technology Co.Ltd(600406) (expected profit of 5.642 billion yuan, a year-on-year increase of 16.29%) Longi Green Energy Technology Co.Ltd(601012) : it is proposed to build 20GW annual single crystal silicon rod and chip project, 30GW high-efficiency single crystal cell project and 5GW high-efficiency photovoltaic module project in mengsu economic development zone. Jingke energy: it plans to invest and build 24gw high-efficiency photovoltaic modules and 100000 tons of photovoltaic module aluminum profile projects in Guangxin District, Shangrao City; It is planned to build a 30GW single crystal pull rod photovoltaic industry project in Nanchuan Industrial Park under the jurisdiction of Xining Economic Development Zone Wuxi Shangji Automation Co.Ltd(603185) : from March 2022 to March 2025, Shangrao Hongye and Shangrao Jietai will purchase 648 million monocrystalline silicon chips from the company and its subsidiaries, with an estimated amount of 4.342 billion yuan Titan Wind Energy (Suzhou) Co.Ltd(002531) : ① Zhejiang Windey Co.Ltd(300772) put into operation a main engine production line with an annual capacity of not less than 1GW in phase III of Puyang Tianshun wind power equipment manufacturing industrial park; ② Won the construction index of 600MW Hubei new energy project Tbea Co.Ltd(600089) : Xinte energy, a holding subsidiary, plans to issue no more than 300 million A-Shares in the initial public offering and invest in the construction of 200000 tons of polysilicon production capacity (electronic grade) Sunwoda Electronic Co.Ltd(300207) : the subsidiary Sunwoda Electronic Co.Ltd(300207) automobile battery plans to establish Shifang Sunwoda Electronic Co.Ltd(300207) new energy Co., Ltd. to build a 20gwh power battery and energy storage battery production base Tianqi Lithium Corporation(002466) : from January to February, the output of lithium concentrate increased by about 39% year-on-year, and the sales volume increased by about 56% year-on-year Eve Energy Co.Ltd(300014) : selected as the supplier of Bosch to provide Bosch with lithium-ion power batteries for auxiliary applications of electric vehicles in the global market Ningbo Shanshan Co.Ltd(600884) : plan to issue GDR overseas and list it on the Swiss stock exchange Gotion High-Tech Co.Ltd(002074) : plan to issue GDR overseas and list it on the Swiss stock exchange.
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.
