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Special research this week: the number of power exchange stations in China has increased significantly year-on-year, the orders for power exchange heavy trucks are booming, and the new energy power exchange mode is expected to accelerate
In February 2022, the total number of power exchange stations of China’s major power exchange operators increased by 112% year-on-year; The data of heavy truck sales are eye-catching: as of February 2022, the number of power replacement stations of China’s major power replacement operators has reached 1405, with a year-on-year increase of 111.92%, which is also an increase of more than 100% in the number of power replacement stations for five consecutive months. In January 2022, the weight of new energy heavy truck sales in new energy special vehicles increased from 7% last year to 30%, mainly due to the rapid development of power replacement heavy trucks. In January 2022, 1022 new energy heavy trucks were sold, accounting for 44.8% of the new energy heavy truck sales this month. Since the beginning of this year, the power replacement heavy card has developed rapidly, and the order of power replacement heavy card has exceeded 11636 this year.
The two sessions encourage the separation of vehicles and electricity and promote the standard of power exchange. The power exchange mode may usher in an outbreak period: on March 11, the two sessions of the whole country officially ended in Beijing. In the two sessions, the power exchange mode was mentioned many times, which attracted the attention of all walks of life. Some representatives proposed, such as promoting battery leasing, strengthening the support of technological innovation and standardization of power exchange, building adaptive power exchange stations, and exploring the mode of shared power exchange; Encourage the popularization and application of quick change “vehicle power separation” mode; Suggestions such as taking power station replacement as the focus of new infrastructure construction. With more and more enterprises entering the power exchange market, the standardization of power exchange mode is imminent.
The operation of power exchange station is the largest link in the market space. It is recommended to pay attention to the enterprises with leading layout: we believe that the annual operation space of power exchange station is expected to reach 8.315 billion yuan, 24.371 billion yuan, 61.456 billion yuan and 135755 billion yuan respectively from 2022 to 2025, which is the link with the largest market space in the field of power exchange. Considering that the power exchange industry may break out rapidly, it is recommended to focus on the enterprises with leading layout: 1, Gcl Energy Technology Co.Ltd(002015) ( Gcl Energy Technology Co.Ltd(002015) . SZ); 2 Suzhou Harmontronics Automation Technology Co.Ltd(688022) Suzhou Harmontronics Automation Technology Co.Ltd(688022) .SH）； 3 Bozhon Precision Industry Technology Co.Ltd(688097) Bozhon Precision Industry Technology Co.Ltd(688097) .SH）； 4 Shandong Weida Machinery Co.Ltd(002026) Shandong Weida Machinery Co.Ltd(002026) .SZ）； 53 Jiangsu Yuyue Medical Equipment And Supply Co.Ltd(002223) 00222.SZ）； 6 Contemporary Amperex Technology Co.Limited(300750) Contemporary Amperex Technology Co.Limited(300750) .SZ）。
Key tracking industries:
Lithium battery equipment has a resonance in the global production capacity cycle. It is expected that the demand will exceed 100 billion yuan in 2025. Chinese equipment companies have obvious advantages and are fully optimistic about the first and second tier leaders with advantages in technology, products and scale;
For photovoltaic equipment, the iterative upgrading of equipment promotes the cost reduction of the industrial chain, and the penetration rate of hjt increases rapidly. At the same time, the decline in the price of photovoltaic raw materials is expected to stimulate downstream demand, and we are optimistic about the leaders of battery chips and module equipment;
For power exchange, the operation space of power exchange station is expected to reach 135755 billion yuan in 2025. The operation of power exchange station is the link with the largest market space in the field of power exchange, and it is optimistic about the operation enterprises of power exchange station;
Energy storage: energy storage is the necessary foundation for building a new power grid. Policies are favorable to the implementation. Power generation and user side promote the prosperity of the industry, and are optimistic about leading companies in battery, inverter, integration and other links;
Semiconductor equipment is expected to meet us industry demand in 2030, reaching US $140 billion. Chinese mainland accounts for a larger share but the localization rate is still low. We hope that the platform companies and domestic alternatives will soon break through.
Automation, industrial consumables with a wide range of downstream applications, with a market scale of about 40 billion yuan, which is expected to reach 55.7 billion yuan in 2026. It is optimistic about the industry leaders benefiting from the improvement of concentration and import substitution;
Hydrogen energy and green hydrogen meet the requirements of carbon neutralization. The rapid development of photovoltaic and wind power lays the foundation for photovoltaic hydrogen production and wind power hydrogen production. We are optimistic about leading companies with the advantages of green hydrogen industrial chain integration;
For construction machinery, the strong is always strong. It is suggested to pay attention to the industry leaders and be optimistic about the complete machine and parts companies with product, scale and cost advantages.
