Key investment points
Market review: this week, the public utility industry index fell 2.81%, underperforming the Shanghai and Shenzhen 300 index by 1.82%, and the market performance was weaker than the market. Among the fine-grained industries in the environmental protection industry, gardens and solid waste treatment decreased significantly. Clean energy power generation and local power grids fell significantly in the fine sectors of the public sector.
Special research: the energy storage principle of gravity energy storage is to use abundant power to lift heavy objects, store potential energy, release the potential energy of heavy objects when necessary, and drive the generator to generate electricity through conversion. It has the characteristics of large capacity, fast response, long time, low cost and easy maintenance, and is more suitable for wind power renewable energy. With the continuous growth of renewable energy installed capacity in the future, gravity energy storage is expected to develop gradually.
Industry information: Recently, Guangdong Province issued the 14th five year plan for energy development in Guangdong Province (hereinafter referred to as the plan), pointing out that by 2025, the proportion of non fossil energy consumption in Guangdong Province will reach 32%. At the same time, it is proposed to vigorously develop renewable energy. During the 14th Five Year Plan period, the installed capacity of offshore wind power, onshore wind power and photovoltaic power will be increased by 17, 3 and 20GW respectively, with a total installed capacity of 40gw. In addition, the plan proposes to actively, safely and orderly develop nuclear power and accelerate the construction of pumped storage power stations. During the 14th Five Year Plan period, the installed capacity of nuclear power and pumped storage increased by 2.40 GW and 2.40 GW respectively.
Investment suggestion: the low-carbon transformation of energy structure continues to advance, and the installed scale of green power is high during the 14th Five Year Plan period, with high certainty of growth. In addition, the green power pilot transaction was launched, which brought marginal benefits to green power enterprises from the price side, and carbon emission quota transaction and CCER transaction brought incremental performance sources to green power enterprises. The green power sector is expected to maintain a high outlook during the 14th Five Year Plan period. It is suggested to actively grasp the investment opportunities of the green power sector. Suggestions: 1) focus on China Three Gorges Renewables (Group) Co.Ltd(600905) , Jiangsu New Energy Development Co.Ltd(603693) , Zhongmin Energy Co.Ltd(600163) , Jinko Power Technology Co.Ltd(601778) , Zhejiang Sunoren Solar Technology Co.Ltd(603105) ; 2) China Resources Power, Huaneng Power International Inc(600011) , Jilin Electric Power Co.Ltd(000875) , Shanghai Electric Power Co.Ltd(600021) , Fujian Funeng Co.Ltd(600483) , which actively transformed the development of new energy; 3) Nuclear power is expected to rise both in volume and price, and actively transform the development of scenery new energy China National Nuclear Power Co.Ltd(601985) . Environmental protection enterprises actively expand new increment and open the second growth curve. It is suggested to pay attention to Shengyuan Environmental Protection Co.Ltd(300867) , Zhejiang Rongsheng Environmental Protection Paper Joint Stock Co.Ltd(603165) , Wangneng Environment Co.Ltd(002034) . Waste recycling brings new market opportunities. It is suggested to pay attention to the rapid and large-scale recycling of organic residue Road Environment Technology Co.Ltd(688156) . During the 14th Five Year Plan period, the investment in power grid increases, and the distribution network and intellectualization are the main directions. It is suggested to pay attention to Hangzhou Shenhao Technology Co.Ltd(300853) of the intelligent operation and inspection standard of the power industry and Suwen Electric Energy Technology Co.Ltd(300982) . Industrial temperature control expert, promising subject of energy storage and heat management Guangdong Shenling Environmental Systems Co.Ltd(301018) . The power shortage and the continuous widening of the price difference between peak and valley have promoted the demand for enterprise energy consumption control. It is suggested to pay attention to the enterprise microgrid integrated energy management solution supplier Acrel Co.Ltd(300286) .
Risk warning: the project progress is not as expected; The implementation of the policy is not as expected; Intensified market competition; The public materials used in the research report may have the risk of information lag or untimely update.
