Key investment points
[the controlled equity auction of Yajiang snowway lithium mine was concluded with more than 2 billion yuan] on May 21, the 54.29% equity of Yajiang snowway mining held by Chengdu Xingneng new materials fell on the Jingdong bankruptcy auction platform, and the final transaction price exceeded 2 billion yuan, 597 times the starting price of 3.35 million yuan. Snowway mining owns the exploration right of delanongba super large lithium mine.
[REpower EU plan: achieve the goal of 600gw photovoltaic grid connection by 2030] on May 18, European local time, the European Commission announced the “EU renewable energy plan”, raising its renewable energy target from 40% to 45% by 2030. In order to achieve the goal of grid connection of 600 GW in 2020, which is nearly twice that of the EU in 2020. After 2029, all residential buildings will be forced to use Cecep Solar Energy Co.Ltd(000591) , and all buildings should be prepared to use Cecep Solar Energy Co.Ltd(000591) .
[lithium battery price: demand is weak, cobalt salt prices fall frequently, and the game of reluctant to sell lithium carbonate starts again] according to SMM, in terms of battery grade lithium carbonate, the prices of mainstream large manufacturers are relatively strong, but there is still great uncertainty about the recovery of the demand side, which is expected to focus on maintaining stability. The quotation of cobalt sulfate continued to decline. From the supply side, although the import of cobalt raw materials decreased. However, in previous months, cobalt sales were sporadic, and the inventory of finished products of cobalt salt plant accumulated seriously. At present, the order inquiry is weak. Some recycled material plants choose to ship at a low price, driving the overall price downward. The price of ternary cathode decreased slightly under the condition of declining cost and weak demand. The supply of negative electrode and diaphragm is tight, and the price is supported. The price of lithium hexafluoride electrolyte shows a downward trend. It’s highly recommended to focus on: ‘s Contemporary Amperex Technology Co.Limited(300750) 35.
[photovoltaic price: the upstream rise is differentiated, and the component price rises] according to pvinfolink data, on May 18, the mainstream quotation of [silicon material] polysilicon compact was 255000 yuan / ton, and the average price increased by 0.8% compared with last week. The output of silicon material in May has increased by 16% compared with that in January. However, due to the impact of the growth scale of terminal demand and the serious mismatch between supply and demand in the upstream link caused by the rapid growth of production capacity in the crystal pulling link, the price of silicon material continues to show an upward trend. It is expected that it is still difficult to fall in the short term, but the rising space has been gradually narrowed. [silicon chip] the mainstream quotation of 182mm single crystal silicon chip is 6.780 yuan / PC, and the average price is the same as last week. The mainstream quotation of 210mm monocrystalline silicon wafer is 9.130 yuan / PC, and the average price is the same as that of last week. The price of mainstream specifications of monocrystalline silicon wafer will remain stable temporarily this week, and the driving force for further rise is expected to weaken. The supply thickness thinning trend of monocrystalline silicon wafer continues to accelerate in order to maintain the price and gross profit level in disguise. [cell] the mainstream quotation of 182mm single crystal perc cell is 1.18 yuan / W, and the average price is the same as last week. The mainstream quotation of 210mm single crystal perc battery is 1.160 yuan / W, and the average price is the same as that of last week. The upward price of battery has encountered a bottleneck. [components] the mainstream quotation of 365375 / 440450w single crystal single glass perc components is 1.910 yuan / W, and the average price is 1.1% higher than last week. The mainstream quotation of 182mm single crystal single glass perc module is 1.930 yuan / W, and the average price is 0.8% higher than that of last week. Component prices also continued to rise in May, and terminal manufacturers began to accept prices of more than 1.9 yuan per watt. Key recommendations focus on the following: ‘ Hangzhou First Applied Material Co.Ltd(603806) \ , Chengdu Guibao Science & Technology Co.Ltd(300019) , Yangling Metron New Material Co.Ltd(300861) , Levima Advanced Materials Corporation(003022) .
Risk tip: the newly installed capacity of photovoltaic is less than expected, the production and sales of new energy vehicles are less than expected, the sharp fluctuation of raw material prices affects the industry demand, and other unexpected explosion risks.
