The policy height has been significantly improved, and the new power system leads the construction of carbon peak
On March 15, 2021, the ninth meeting of the central financial and Economic Commission first proposed the concept of new power system and put forward the development requirements of "deepening the reform of power system and building a new power system with new energy as the main body". In October 2021, the State Council issued the action plan for carbon emission peak in 2030, focusing on the goal of carbon peak by 2030 and making an overall deployment for promoting carbon peak. With the promotion of the new power system, the county's large-scale development of distributed photovoltaic, promotion of distributed energy, microgrid, multi energy complementarity, energy management, construction of virtual power plants, and promotion of the integrated development of source, network, load and storage have been introduced one after another.
The 14th five year plan of China Southern Power Grid has a high budget investment, focusing on areas closer to the user side, such as power distribution. The State Grid announced a plan to invest 350 billion US dollars (about 2.23 trillion yuan) during the 14th five year plan. The power grid development plan of China Southern Power grid proposed that during the 14th five year plan, the planned investment in power grid construction of China Southern Power Grid will be about 670 billion yuan (an increase of 33% compared with the investment in the 13th five year plan of China Southern Power Grid), The total investment in the national power grid during the 14th Five Year Plan period will exceed 2.9 trillion yuan, significantly higher than 2.57 trillion yuan during the 13th Five Year Plan period and 2 trillion yuan during the 12th Five Year Plan period. The budget of power distribution and other links accounts for a high proportion. During the "14th five year plan" period of the southern power grid, the planned investment in the distribution network reached 320 billion yuan, accounting for nearly half of the total investment. It can be seen that the power grid has accelerated the investment in fields close to the user side. We believe that the power application with multiple social scenes is expected to accelerate the formation.
The State Grid south network digital project is expected to accelerate the performance of Companies in the industry
On May 19, 2022, the State Grid's action plan for tackling key scientific and technological problems of new power system signed the letter of responsibility for major scientific and technological projects in 2022, held a video conference, made every effort to tackle the core technologies of new power system, promoted the transformation of clean and low-carbon energy, actively served the overall situation of "six stabilities" and "six guarantees", and welcomed the victory of the 20th CPC National Congress with practical actions; The meeting identified ten key science and technology projects, arranged a R & D investment of 200 million yuan, and implemented them by signing a certificate of responsibility. In May of the same year, China Southern Power Grid released the first batch of digital platform construction public bidding projects (informatization) in 2022. A total of 20 digital projects were invited for bidding, with a bidding budget of 900 million yuan, including power grid management platform (asset domain V2.0), power grid management platform (accounting domain v2.0 - Financial Sharing, group treasurer, etc.) The amount of digital technology platform (smart view V3.0) construction project reached 292992, 790052 and 63616400 yuan respectively. The revenue growth of leading power it companies Longshine Technology Group Co.Ltd(300682) q in 2021 and 2022q1 reached 36.98% and 39.87% respectively, and the revenue growth of China Southern Power Grid Technology in 2021 and 2022q1 reached 24.28% and 67.70% respectively. The industry is in a high boom state. With the promotion of bidding of State Grid and China Southern Power Grid, the performance of Companies in the industry is expected to accelerate.
Investment suggestion: during the "14th five year plan" period, the power it budget is high, the prosperity of the track is high, and the pace of bidding and landing is accelerated recently, or it can catalyze the later performance of Companies in the industry. It is suggested to pay attention to Longshine Technology Group Co.Ltd(300682) , Guoneng Rixin, Ygsoft Inc(002063) , Beijing Inhand Networks Technology Co.Ltd(688080) , and China Southern Power Grid technology.
Risk tip: the implementation of power grid budget is less than expected, and the project cycle is prolonged, which may affect the confirmation progress of Companies in the industry.
