Core conclusion
The new regulations on building energy efficiency are about to be implemented, and it is expected to drive the demand for energy-saving materials under the tightening of the specifications. The new regulations will be implemented on April 1 this year. The new regulations basically cover all new reconstruction and expansion of buildings, and the new regulations will be enforced. Compared with the old regulations, the overall energy-saving requirements of public buildings have increased by more than 20%; Compared with the requirements of various residential buildings, the overall increase is more than 30%. Overall, the implementation of the new regulations will have a great impact on building insulation, glass, building photovoltaic and other industries.
Building thermal insulation: the core link of energy conservation, with the largest use area and the best energy-saving effect, and the upgrading of the industry under the new regulations is accelerated. The energy consumption involved in building thermal insulation accounts for 42% of the total building energy consumption, which is one of the core links of building energy conservation. According to the requirements of the new regulations, we expect the external wall insulation material industry to accelerate the upgrading, especially the composite insulation board in high-rise buildings will usher in great development with the characteristics of high insulation and light weight, and the performance of traditional EPS, rock wool and other insulation materials will also be improved. It is suggested to pay attention to Luyang Energy-Saving Materials Co.Ltd(002088) , Asia Cuanon Technology (Shanghai) Co.Ltd(603378) and Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) .
Building glass: an important part of energy conservation, energy consumption loss node, high product performance and high energy-saving benefits. The industrial expansion and energy-saving glass under the new regulations usher in new opportunities. The energy consumption loss of building doors and windows accounts for 23% of the total building energy consumption, which is one of the important links of building energy conservation. The existing double-layer glass (or even four billion layer glass) can replace the existing three-layer energy-saving glass market. At present, the penetration rate of Low-E glass in China is only 12%, compared with 85% in Europe and America. There is huge room for improvement, and the industry pattern is good, with Cr5 reaching 54%. The leader is expected to take the lead in benefiting. It is suggested to pay attention to the glass faucet Zhuzhou Kibing Group Co.Ltd(601636) .
Renewable energy building system industry: energy conservation is the first choice, self use and source solution. Bapv comes first and BIPV comes later. Building photovoltaic system can save 20-30% of the energy consumption in the operation stage of the building, which is one of the important measures of building energy conservation. Specifically, at the project end, in the bidding stage, photovoltaic / construction / BIPV enterprises are in a competitive state, while in the project implementation stage, relevant industrial chain enterprises are in a cooperative state and need to purchase various products and services. From a long-term perspective, it is the general trend for BIPV to replace bapv, while construction and innovation incubation BIPV enterprises are expected to stand out when the industry ushers in major development through early technology accumulation and professional ability. It is suggested to pay attention to Center International Group Co.Ltd(603098) , Hangxiao Steel Structure Co.Ltd(600477) and Jiangsu Canlon Building Materials Co.Ltd(300715) .
Prefabricated buildings: the only way to save energy in the whole life cycle of buildings. Compared with traditional buildings, prefabricated buildings save about 10-20% of energy consumption, which is an important measure of building energy conservation. At present, the fabricated structure is mainly made of concrete, and the fabricated steel structure accounts for 30.2%. In terms of civil construction, under the promotion of future policies, when the overall assembly rate of the building is required to exceed 30%, the cost of steel structure is expected to gradually decline and the comprehensive advantage will be improved; In terms of public buildings, the steel structure is more suitable for the needs of large-span and modularization, and the permeability is expected to increase gradually. It is suggested to pay attention to Hangxiao Steel Structure Co.Ltd(600477) , Changjiang & Jinggong Steel Building(Group)Co.Ltd(600496) , Honglu steel and Yuanda Residential Engineering Co., Ltd.
Other building energy-saving industries: building shading, suggestions on Shandong Yuma Sun-Shading Technology Corp.Ltd(300993) , Zhejiang Xidamen New Material Co.Ltd(605155) .
Risk tips: the implementation of the new deal is less than expected, the decline of real estate demand is more than expected, and the fluctuation of raw materials is more than expected
