This week, the photovoltaic index fell 3.80% and the wind power index fell 5.60%.
This week, the Shanghai Composite Index fell 1.19% and the Shenzhen Component Index fell 2.08%. Among them, the photovoltaic index fell 4.09% and the wind power index fell 4.53%. From the perspective of listed companies, the top five gainers of photovoltaic sector are Henan Ancai Hi-Tech Co.Ltd(600207) (8.8%), Shanxi Coal International Energy Group Co.Ltd(600546) (8.3%), Wuxi Autowell Technology Co.Ltd(688516) (7.6%), Shouhang High-Tech Energy Co.Ltd(002665) (4.9%), Zhejiang Provincial New Energy Investment Group Co.Ltd(600032) (3.7%). The top five gainers of wind power sector are: Jiangsu Sinojit Wind Energy Technology Co.Ltd(601218) (6.95%), China Suntien Green Energy Corporation Limited(600956) (2.67%), Dalian Huarui Heavy Industry Group Co.Ltd(002204) (0.52%), Shandong Shuangyi Technology Co.Ltd(300690) (- 0.48%), Zhuzhou Times New Material Technology Co.Ltd(600458) (- 1.13%).
Chuan caizhou’s view.
The price of monocrystalline silicon wafer has increased, and the demand for photovoltaic construction can still be digested. This week Longi Green Energy Technology Co.Ltd(601012) raised the price of monocrystalline silicon again, and the price of products increased by 1.8% – 1.9%. Among them, monocrystalline silicon p-type m6165 μ M thickness (166 / 223mm) ￥ 5.55, up 1.8%; Monocrystalline silicon p-type 158.75/223mm165 μ M thickness ￥ 5.35, increased by 1.9%; Monocrystalline silicon p-type m10165 μ M thickness (182 / 247mm) ￥ 6.70, unchanged. Since this year, the price of monocrystalline silicon wafer in the market has experienced several rounds of rise, reversing the price reduction trend in November last year, which is contrary to the previous expectation of large-scale price reduction in the market. We believe that the current tight supply and demand of silicon materials in the upper reaches and the rising price are the main driving force for the price rise of manufacturers in the middle reaches. On the other hand, on the basis of ensuring a certain internal rate of return, the price increase of large-scale photovoltaic power stations built by downstream state-owned enterprises is still within an acceptable range at this stage, with high tolerance, and there is a price increase basis. At present, the relevant plans for green energy in the 14th five year plan have been issued one after another, and a large number of green energy construction deployment such as wind photovoltaic have been made. It is expected that the downstream demand will continue to maintain an objective growth trend. The silicon wafer manufacturer under consideration has signed a huge long-term agreement with silicon material suppliers, and the silicon material supply is expected to ease. With the stable price of raw materials, there is still the possibility of price reduction and large-scale production of silicon wafers, and there is room for further decline in the cost of photovoltaic kwh.
The implementation plan for the development of new energy storage in the 14th five year plan was released, and the energy storage sector opened the demand ceiling. The national energy administration and the national development and Reform Commission jointly issued and interpreted the implementation plan for the development of new energy storage in the 14th five year plan. The plan focuses on six directions, and one of the key tasks is to support the construction of new power system with large-scale development. We believe that the introduction of policies plays a strong supporting role in the development of energy storage sector, and the mention of user side energy storage plays a positive role in fragmented household energy storage. Optimistic about the performance growth of relevant electrochemical energy storage enterprises.
Industry dynamics.
On March 21, the National Energy Administration released the statistical data of the national power industry from January to February. By the end of February, China’s installed power generation capacity was about 2.39 billion kw, a year-on-year increase of 7.8%. Among them, the installed capacity of wind power was about 330 million KW, a year-on-year increase of 17.5% Cecep Solar Energy Co.Ltd(000591) installed power generation capacity was about 320 million KW, an increase of 22.7% year-on-year.
Risk warning.
Macroeconomic growth is lower than expected, the risk of changes in emission reduction policies and the risk of fluctuations in raw material prices.
