This week’s market
Overall: this week, Shanghai and Shenzhen 300 rose or fell by – 2.14%, 10 of the 31 industries in Shenwan level rose, the power equipment industry rose or fell by – 4.05%, ranking 30th in Shenwan level industry, and the wind photovoltaic index rose or fell by – 4.09%.
Individual stocks: seven stocks in the photovoltaic industry (constituent stocks of wind photovoltaic index) achieved positive returns, of which Henan Ancai Hi-Tech Co.Ltd(600207) led the rise by 8.85% and Wuxi Shangji Automation Co.Ltd(603185) led the decline by – 16.31%.
Valuation: as of March 27, 2022, the PE (TTM) of photovoltaic industry (wind photovoltaic index) is 41.66, and the P / E ratio of electrical equipment industry (Shenwan level) is 45.71.
Price tracking
The price of the industrial chain remained stable in general this week:
The price of monocrystalline silicon material remained stable;
The price of monocrystalline silicon remains stable and the price of polycrystalline silicon rises slightly;
The price of single crystal cell remains stable and that of polycrystalline cell remains stable;
Component prices remained stable.
Industry dynamics
National Energy Administration: newly installed capacity of 1-2 kV power generation is 10.86gw
The National Energy Administration issued the energy storage development plan of the 14th five year plan
The 14th five year plan for modern energy system was printed and distributed
Investment advice
As of this week, there are 13 polysilicon enterprises in China. In April, affected by the maintenance of individual large factories and the maintenance and logistics problems of overseas enterprises, the monthly increment of silicon material is expected to be 10002000 tons, and the demand increment of silicon material in the same period is expected to be more than 3000 tons, slightly greater than the supply. Therefore, it is expected that the silicon material price will remain stable in April. Recently, the national development and Reform Commission and the National Energy Administration officially released the “14th five year plan” for modern energy system, proposing that by 2025, the proportion of non fossil energy power generation will reach about 39%, and the proportion of electric energy in terminal energy consumption will reach about 30%. It also makes requirements for promoting the development of wind power photovoltaic, promoting the construction of new power system and energy storage, and power market-oriented reform, It is estimated that from 2022 to 2025, the annual installed capacity of wind power photovoltaic still needs to be increased by 130gw +. The following suggestions and concerns include the following: followingthe following of the following following: followingthe following following following the following: followingthe following of the following: Trina Solar Co.Ltd(688599) , Ja Solar Technology Co.Ltd(002459) , Ginlong Technologies Co.Ltd(300763) .
Risk tips
The consumption of new energy is less than expected; The new installed capacity is less than expected; Price fluctuation risk of industrial chain; The implementation of the new energy plan on the 14th five year plan was not as expected.
