Sichuan caizhou viewpoint
The price of lithium concentrate in the upstream rose slightly this week, and the mood of major lithium battery enterprises competing for lithium resources was high. Snowway mining auction became the focus of the market this week. The downstream mainstream battery market has not changed much. With the gradual decline of the impact of the epidemic in Shanghai, terminal vehicle enterprises have recently resumed work and production, and the expectation of the improvement of downstream market demand has increased. In terms of photovoltaic, the rising trend of photovoltaic supply chain this week is divided, the price of silicon continues to show an upward trend, the pressure on module cost is upward, and the pressure on the bearing module end of the cell link is limited. Affected by the growth scale of terminal demand, it is expected that the price of silicon is still difficult to fall in the short term, but the rising space has been gradually narrowed. In terms of wind power, under the downward trend of wind turbine unit price, the wind power market is expected to maintain a steady growth trend. At present, the market expectation and valuation are still at a relatively low historical valuation. We are optimistic about the trend and opportunities of the wind power photovoltaic industry chain and new energy vehicle sector. It is suggested to pay attention to the head enterprises of the relevant industrial chain.
Market performance in one week
This week, the power equipment index rose 7.26%, the Shanghai index rose 2.02%, and the Shanghai and Shenzhen 300 index rose 2.23%. Among the sub sectors, the battery index rose 6.90%, the photovoltaic equipment index rose 12.56%, and the wind power equipment index rose 11.03%. In terms of individual stocks, the top three companies in the power equipment industry are: Jiangsu Zhongli Group Co.Ltd(002309) ( Jiangsu Zhongli Group Co.Ltd(002309) . SZ, 45.23%), Clenergy(Xiamen)Technology Co.Ltd(603628) ( Clenergy(Xiamen)Technology Co.Ltd(603628) . Sh, 44.92%), Shenzhen Kstar Science & Technology Co.Ltd(002518) ( Shenzhen Kstar Science & Technology Co.Ltd(002518) . SZ, 28.51%); The companies with the first three weeks of decline are: Kangping Technology (Suzhou) Co.Ltd(300907) ( Kangping Technology (Suzhou) Co.Ltd(300907) . SZ, – 7.25%), Hefei Kewell Power System Co.Ltd(688551) ( Hefei Kewell Power System Co.Ltd(688551) . Sh, – 2.66%), Shanghai Holystar Information Technology Co.Ltd(688330) ( Shanghai Holystar Information Technology Co.Ltd(688330) . Sh, – 2.5%).
Industry dynamics
On May 11, Hebei Provincial Development and Reform Commission and Hebei Provincial Department of natural resources jointly issued the notice on further clarifying the policy of cultivated land occupied by stock photovoltaic composite projects. The document requires that cultivated land shall not be occupied for the stock photovoltaic composite projects that are not actually occupied by the project; If the actual occupation of cultivated land has been formed, the relevant departments of cities and counties shall strengthen the supervision during and after the event to ensure that the project is dominated by agriculture and supplemented by photovoltaic, and that agriculture and photovoltaic industry complement and win-win. At the same time, there will be no actual occupation of land, no change in surface morphology and no impact on agricultural production. (Shanghai Nonferrous Metals network)
On May 13, the US Department of Commerce released the mandatory list of respondents to the ongoing anti circumvention Survey (AD / CVD). The Department is investigating Cecep Solar Energy Co.Ltd(000591) battery and battery panel manufacturers using Chinese components in Cambodia, Malaysia, Thailand and Vietnam, and whether these companies evaded Chinese tariffs in this process. Among them, boviet solar and neweast solar are Chinese photovoltaic enterprises, and Vina solar technology is controlled by Longji. (Shanghai Nonferrous Metals network)
On May 15, the Shanghai Municipal People’s government issued a notice on printing and distributing the 14th five year plan for energy development in Shanghai. The notice pointed out that Shanghai will vigorously develop renewable energy and focus on both centralized and distributed renewable energy. Implement the “photovoltaic +” special project, promote the development of photovoltaic by industry and field in combination with land and roof resources, and strive to increase the scale of photovoltaic by 2.7 million KW. Offshore wind power will focus on promoting wind power development in Fengxian, Nanhui and Jinshan sea areas, explore and implement far-reaching sea area and land decentralized wind power demonstration pilot projects, and strive to increase the scale of 1.8 million KW. Combined with the resource utilization of waste, promote the construction of biomass power generation projects, with a new scale of about 400000 kW. (Shanghai Nonferrous Metals network)
On May 16, the people’s Government of Qingshan District, Baotou City, Inner Mongolia Autonomous Region signed an agreement on the development of roof distributed photovoltaic in Qingshan District with the State Power Investment Group Inner Mongolia Power Investment Energy Co., Ltd., Huadian (Inner Mongolia) new energy Co., Ltd. and Hebei Jingao New Energy Development Co., Ltd. respectively. Qingshan District is the pilot area of promoting roof distributed photovoltaic in the whole county, It is also the only flag County District approved as a national pilot in Baotou. (Shanghai Nonferrous Metals network)
On May 17, the general office of Jiangxi Provincial People’s government issued the energy development plan of Jiangxi Province during the 14th Five Year Plan period. During the plan period, the installed capacity of new power will be more than 34.6 million KW, and strive to increase the installed capacity of photovoltaic power generation by more than 16 million kW, with a cumulative installed capacity of more than 24 million kW in 2025; Strive to increase the installed capacity of wind power by more than 2 million KW, and the cumulative installed capacity will reach more than 7 million kW in 2025. (Shanghai Nonferrous Metals network)
On May 17, Jiaxing Municipal People’s government issued a notice on the national economic and social development plan of Jiaxing in 2022. The notice pointed out that we should vigorously adjust the energy supply structure, accelerate the development of clean energy such as photovoltaic, wind power and hydrogen energy, strengthen the comprehensive utilization of nuclear energy, and add more than 400000 kilowatts of photovoltaic grid connected capacity. (Shanghai Nonferrous Metals network)
On May 18, the European Commission announced an energy plan called “repowereu” on May 18 to rapidly promote the transformation of green energy. The plan proposes to increase the overall target of renewable energy in 2030 in the EU’s “55% carbon reduction” policy portfolio from 40% to 45%; Establish a special EU Cecep Solar Energy Co.Ltd(000591) strategy to double Cecep Solar Energy Co.Ltd(000591) photovoltaic power generation capacity by 2025 and install 600gw by 2030; Double the deployment rate of heat pumps and take measures to integrate geothermal and Cecep Solar Energy Co.Ltd(000591) into modern regional and public heating systems; By 2030, 10 million tons of renewable hydrogen will be produced and 10 million tons will be imported to replace natural gas, coal and oil used by industries and transportation sectors that are difficult to reduce carbon. The European Commission also announced that the EU Cohesion Fund and the common agricultural policy (CAP) can provide 26.9 billion euros and 7.5 billion euros to the EU recovery measures Fund (RRF) through voluntary transfer. The European Commission will double the large-scale collection of funds from the innovation fund in 2022 to about 3 billion euros this autumn. (Shanghai Nonferrous Metals network)
On May 19, Qingdao, Shandong Province, solicited public opinions on Qingdao’s 14th five year plan for energy conservation (Draft for comments), which pointed out that we should continue to optimize the energy consumption structure and improve the application proportion of renewable energy in public buildings. We will strengthen the promotion of Cecep Solar Energy Co.Ltd(000591) , wind energy, geothermal energy and other renewable energy, heat pumps and efficient energy storage technologies, vigorously promote the construction of roof photovoltaic projects in public institutions, and increase the proportion of renewable energy consumption. (Shanghai Nonferrous Metals network)
On May 21, the 54.29% equity of Yajiang snowway Mining Development Co., Ltd. held by Chengdu Xingneng new materials Co., Ltd. was auctioned on JD bankruptcy auction platform on May 17. The starting price of the auction was 3.3529 million yuan, and the final transaction price exceeded 2 billion yuan, 597 times the starting price, setting a rare auction record in the industry. As for the participants in this auction, the market speculates that the potential enterprises are mainly those that distribute lithium resources in Sichuan, including Gcl Energy Technology Co.Ltd(002015) , Sichuan New Energy Power Company Limited(000155) , Sichuan Road & Bridge Co.Ltd(600039) , Youngy Co.Ltd(002192) , Chengxin Lithium Group Co.Ltd(002240) , etc. (Shanghai Securities News)
Company announcement
Tianqi Lithium Corporation(002466) : the company announced that after repeated commissioning and optimization, the first batch of about 10 tons of lithium hydroxide products passed the sampling and testing in the company’s internal laboratory, and all parameters were confirmed to meet the battery grade lithium hydroxide standard on May 19, 2022.
The product samples have been sent to the third-party Laboratory for independent inspection results. In order to realize the commercial production of the project, Tlk will provide products to different customers for quality certification. This process is expected to take 4-8 months. During this period, the company and Tlk will continue to focus on achieving and consolidating the stable, consistent and reliable operation of the plant.
Eve Energy Co.Ltd(300014) : the company announced that it plans to sign an investment agreement with the Management Committee of Yuxi high tech Zone in Yunnan Province on matters related to the company’s investment and construction of lithium battery production project in Longquan area of Yuxi high tech Industrial Development Zone. The project plans to invest 3 billion yuan to build a 10gwh power energy storage battery project, including 2.1 billion yuan in fixed assets.
Sichuan New Energy Power Company Limited(000155) : the company announced that it plans to transfer 5% equity of Sichuan energy investment Lithium Industry Co., Ltd. to Sichuan Road & Bridge Co.Ltd(600039) at a transfer price of 149 million yuan. After the completion of this transfer, the proportion of equity held by the company in energy investment lithium industry has been changed from 62.75% to 57.75%.
Sichuan Anning Iron And Titanium Co.Ltd(002978) : the company announced that it plans to promote the construction of 50000 tons of iron phosphate project in the first phase of lithium iron phosphate project, with an estimated investment of 500 million yuan.
Ceepower Co.Ltd(300062) : the company announced that it had won the bid in advance and “public bidding activities for 7 types of materials such as the second batch of switch boxes of wholly-owned, holding and joint-stock enterprises of Guizhou Dingxin energy development (Group) Co., Ltd. in 2022”, “equipment procurement bidding activities for the Guangxi section of the new Guiyang Nanning railway” “Procurement of 20MW / 40mwh lithium iron phosphate energy storage equipment for Gansu Jinchang yongchanghe Qingtan 120mW photovoltaic power generation project of Jinchang Runxin new energy Co., Ltd.” and other projects.
Xiamen Wanli Stone Stock Co.Ltd(002785) : the company announced that it plans to set up a salt lake resource development project company with a joint investment of 50 million yuan through its holding subsidiary Wanli (Xiamen) new energy resources Co., Ltd. and Qinghai Qaidam geological, mineral and Chemical Co., Ltd., of which Wanli (Xiamen) new energy resources Co., Ltd. plans to invest 25.5 million yuan with its own funds, accounting for 51% of the investment proportion. The annual capacity of lithium carbonate production line of the company is tentatively set as 1000 tons.
Jiangsu Baichuan High-Tech New Materials Co.Ltd(002455) : the company announced that recently, the “20000 t / a lithium battery resource utilization device” implemented by the company’s Sun company Ningxia Baichuan new materials Co., Ltd. has completed the main construction of the project, equipment installation and commissioning. The trial production scheme and conditions for the trial production of the device have been reviewed and approved by the expert group, and the trial production conditions have been met. At present, the project has entered the trial production stage.
Ja Solar Technology Co.Ltd(002459) : the company announced that it plans to expand the company’s integrated production capacity. The investment projects include Qujing 10GW high-efficiency battery, 5GW component project and Hefei 11gw high-power component reconstruction and expansion project. The estimated investment is 10.29 billion yuan, accounting for 62.38% of the latest audited net assets. On the same day, it was announced that it was planned to adjust the scheme of profit distribution and conversion of capital reserve into share capital in 2021. After adjustment, it was planned to transfer 10 to 4 and distribute 1.5 yuan.
Tbea Co.Ltd(600089) : the company announced that in order to seize market opportunities and accelerate the development of photovoltaic resources, the holding company Tbea Co.Ltd(600089) Xinjiang new energy Co., Ltd. (hereinafter referred to as new energy company) will invest in the construction of Wenxi 100MW photovoltaic project, with a total investment of 479747700 yuan.
Risk tip: the bottleneck of the supply chain leads to lower demand than expected, and the intensification of market competition leads to the decline of industry profitability.
