Events
On March 28, 2022, the Shanghai Composite Index closed at 3214.5 points, up 0.07%; The Shenzhen composite index closed at 1194994 points, down 1.02%; The power sector index closed at 297858 points, up 0.94%. Among them, the top three companies in the photovoltaic power generation sector are: Kelin Environmental Protection Equipment Inc(002499) ( Kelin Environmental Protection Equipment Inc(002499) . SZ, 5.05%), Cecep Solar Energy Co.Ltd(000591) ( Cecep Solar Energy Co.Ltd(000591) . SZ, 0.80%), Tunghsu Azure Renewable Energy Co.Ltd(000040) ( Tunghsu Azure Renewable Energy Co.Ltd(000040) . SZ, 0.59%). The top three companies in the thermal power sector are: Spic Dongfang Energy Corporation(000958) ( Spic Dongfang Energy Corporation(000958) . SZ, 10.06%), Shenyang Jinshan Energy Co.Ltd(600396) ( Shenyang Jinshan Energy Co.Ltd(600396) . Sh, 6.55%), Huaneng Power International Inc(600011) ( Huaneng Power International Inc(600011) . Sh, 3.12%)
Comments
Recently, the central government issued a notice on increasing the flexibility of coal-fired power unit upgrading and efficient water pollution control in 2022. Give priority to supporting the transformation projects of coal-fired power units supporting peak shaving around large-scale wind power bases. Support the coal saving and consumption reduction transformation of coal-fired power units with a power supply coal consumption of more than 300g standard coal / kWh, support the flexible transformation of coal-fired power units, and promote the transformation of existing units. At present, coal power is still the main power supply in China. The transformation and upgrading of coal power projects will effectively improve resource utilization efficiency, reduce operating costs and enhance the competitiveness of enterprises. The previously launched carbon emission reduction support tools and special loans to support the clean and efficient utilization of coal will also provide financial support for the transformation and upgrading of coal power enterprises and help achieve the dual carbon goal.
Industry dynamics
1. The people’s Government of Yushe County, Jinzhong City, Shanxi Province and Shanxi International Energy Group held the investment and development signing ceremony of “Yushe pumped storage clean energy integration project” in Taiyuan. The total investment of Yushe pumped storage clean energy integration project is expected to be about 45 billion yuan. The projects to be planned and constructed include: Guojiashan 1 million KW Large Pumped Storage development project, with an investment of about 6.5 billion yuan; The 6 million KW Fengguang renewable energy storage clean energy project has an investment of about 38.5 billion yuan. The project has been listed in the “14th five year plan” major projects of Yushe County and key projects in 2022. (Polaris power grid)
2. State Power Investment Group Guangdong Electric Power Co., Ltd. and Yongde County, Lincang City, Yunnan Province signed the cooperation agreement on Yongde County Fengguang water storage comprehensive energy power station project. The total investment of the project is expected to be 25 billion yuan, including 15 billion yuan for pumped storage and 10 billion yuan for scenery energy. Fengguang water storage comprehensive energy power station has a planned installed capacity of 2.4 million kW in the short term and 9.6 million kW in the long term. (Polaris power grid)
Company dynamics
Huadian Power International Corporation Limited(600027) ( Huadian Power International Corporation Limited(600027) . SH): Huadian Power International Corporation Limited(600027) disclosed the annual report. In 2021, the operating revenue was about 104422 billion yuan, an increase of 12.27% year-on-year; The net profit loss attributable to the shareholders of the listed company was about 4.965 billion yuan; The loss of basic earnings per share was 0.61 yuan. （iFinD）
Risk tip: the epidemic fluctuation is higher than expected, and the installed capacity of new energy is lower than expected.
