This week’s market
Overall: this week, CSI 300 rose or fell by – 1.06%, 8 of the 31 industries in Shenwan class rose, the power equipment industry rose or fell by – 4.68%, ranking 30th in Shenwan class industry, and the wind photovoltaic index rose or fell by – 5.20%.
Individual stocks: Nine stocks in the photovoltaic industry (constituent stocks of wind photovoltaic index) achieved positive returns, of which, Shandong Jinjing Science And Technology Stock Co.Ltd(600586) led the rise by 7.36% and Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) led the decline by – 14.71%.
Valuation: as of April 10, 2022, the PE (TTM) of photovoltaic industry (wind photovoltaic index) is 38.92, and the P / E ratio of electrical equipment industry (Shenwan level) is 42.79.
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
Guidance on energy work in 2022 issued by the National Energy Administration
Anhui scenery competition for advice: photovoltaic 1.5gw, wind power 1GW, land accounting for 40%
0.25 yuan / kWh, Hainan Sanya 20202021 distributed photovoltaic subsidy application started
Investment advice
As of this week, there are 13 polysilicon enterprises in China, and the small maintenance of some enterprises has little impact on the output. In April, China’s polysilicon output is expected to increase by about 1% month on month, which is still slightly insufficient compared with the expected output of silicon wafers in the same period. Therefore, it is expected that the silicon price will continue to rise slightly in April. Recently, the National Energy Administration officially issued the guiding opinions on energy work in 2022, proposing that in 2022, the total national energy production should reach about 4.41 billion tons of standard coal, the installed capacity of electric power should reach about 2.6 billion kw, the power generation capacity should reach about 9.07 trillion kwh, and the wind power generation capacity accounts for about 12.2% of the power consumption of the whole society. Based on this calculation, it is expected that the new installed capacity of wind power photovoltaic will reach 83-130gw this year. 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
Less than expected consumption of new energy; 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.
