Core conclusion
The two ministries and commissions issued the 14th five year plan for modern energy system to accelerate the pace of promoting green and low-carbon energy. On March 22, the national development and Reform Commission and the National Energy Administration issued the “14th five year plan” for modern energy system. The document proposed that by 2025, the proportion of non fossil energy consumption will increase to about 20%, the proportion of non fossil energy power generation will reach about 39%, the level of electrification will continue to improve, and the proportion of electric energy in terminal energy consumption will reach about 30%. In order to achieve the goal, we will mainly start from the following aspects: (1) implement the rural power grid consolidation and upgrading project. (2) Actively promote the development and utilization of roof photovoltaic in industrial parks and economic development zones, and promote the integrated application of photovoltaic power generation and construction. (3) Carry out the construction of photovoltaic base. (4) Carry out distributed market-oriented transactions. The policies released this time clearly speed up the pace of promoting green and low-carbon energy, and the large scenic base and distributed energy are expected to accelerate. We are optimistic about the future development of photovoltaic and maintain a high outlook. Recommended Tianjin Zhonghuan Semiconductor Co.Ltd(002129) ( Tianjin Zhonghuan Semiconductor Co.Ltd(002129) . SZ), Suzhou Maxwell Technologies Co.Ltd(300751) ( Suzhou Maxwell Technologies Co.Ltd(300751) . SZ), Longi Green Energy Technology Co.Ltd(601012) ( Longi Green Energy Technology Co.Ltd(601012) . SH), Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) ( Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) . SH).
The output of lithium battery materials increased significantly year-on-year, and the construction of charging infrastructure continued to advance. From January to February 2022, China’s output of ternary cathode was 81000 tons, with a month on month ratio of – 3.8% and a year-on-year increase of + 65.0%; China’s output of lithium iron phosphate cathode was 117000 tons, with a month on month increase of + 29.7% and a year-on-year increase of + 164.1%; The output of China’s artificial graphite was 126000 tons, a month on month increase of + 3.3% and a year-on-year increase of + 76.8%; China’s wet diaphragm shipments reached 1.37 billion square meters, a month on month increase of + 3.0% and a year-on-year increase of + 93.7%; China’s dry process diaphragm shipments reached 310 million square meters, with a month on month ratio of – 6.0% and a year-on-year increase of + 59.4%; China’s electrolyte output was 91000 tons, a month on month increase of + 2.1% and a year-on-year increase of + 85.0%. The four lithium battery materials have achieved a year-on-year growth of more than 50%. This week, the national development and Reform Commission and the National Energy Administration issued a notice on the “14th five year plan” for modern energy system, requiring to optimize the layout of charging infrastructure, comprehensively promote the coordinated development of vehicle piles, promote the two-way interaction of energy and information between electric vehicles and smart grid, and carry out the pilot demonstration of a new type of charging and replacement power station combining light, storage, charging and switching. Recommended Contemporary Amperex Technology Co.Limited(300750) ( Contemporary Amperex Technology Co.Limited(300750) . SZ), Hunan Zhongke Electric Co.Ltd(300035) ( Hunan Zhongke Electric Co.Ltd(300035) . SZ), Anhui Estone Materials Technology Co.Ltd(688733) ( Anhui Estone Materials Technology Co.Ltd(688733) . SH), Ningbo Ronbay New Energy Technology Co.Ltd(688005) ( Ningbo Ronbay New Energy Technology Co.Ltd(688005) . SH), Shenzhen Kedali Industry Co.Ltd(002850) ( Shenzhen Kedali Industry Co.Ltd(002850) . SZ), Guangdong Jiayuan Technology Co.Ltd(688388) ( Guangdong Jiayuan Technology Co.Ltd(688388) . SH).
The scale of wind power projects in Guangdong’s 22-year key construction planning exceeds 35gw, and it is optimistic about the development of offshore wind power in the 14th five year plan. Recently, Guangdong Development and Reform Commission released the plan of key construction projects in 2022. Among them, 14 offshore wind power projects are arranged for key construction projects in 22 years, with a total of 8.95gw, including 1 / 11 / 2 of investment, renewal and new construction, with a scale of 0.50/7.50/0.95gw; 13 offshore wind power projects and 11 onshore wind power projects are arranged for key preliminary construction projects, with a total scale of 21.37/4.92gw respectively. After the rush installation, the bid winning price of offshore wind turbines has decreased significantly, and the superimposed construction cost has dropped. China’s offshore wind power projects are expected to realize parity on the Internet in 22 years, and the offshore wind power industry is expected to usher in rapid development in the 14th five year plan. Recommended Ningbo Orient Wires & Cables Co.Ltd(603606) ( Ningbo Orient Wires & Cables Co.Ltd(603606) . SH), Titan Wind Energy (Suzhou) Co.Ltd(002531) ( Titan Wind Energy (Suzhou) Co.Ltd(002531) . SZ).
Risk tips: policy risk, intensified market competition and other risks, supply chain shortage risk, etc
