The prosperity of photovoltaic has been further improved, and the newly signed orders have been gradually implemented
On May 18, the European Commission announced the "repowereu" energy plan, which raised the overall target of renewable energy in 2030 in the EU's "55% carbon reduction" policy portfolio from 40% to 45%, established a special EU Cecep Solar Energy Co.Ltd(000591) strategy, doubled Cecep Solar Energy Co.Ltd(000591) photovoltaic power generation capacity by 2025, and installed 600gw by 2030. European demand exceeded expectations and further promoted the prosperity of the photovoltaic industry. About 75% of the global photovoltaic capacity is in Chinese Mainland. On May 19, Wuhan Dr Laser Technology Corp.Ltd(300776) announced that a total of 674 million yuan of contracts (excluding tax) had been signed with Longji green energy in the past year, accounting for 53.6% of the company's audited main business income in 2021, and the newly signed orders continued to land. The company's laser ablation and doping equipment has a leading market share in the perc field, and with the development of XBC technology, the value and demand of equipment corresponding to a single GW have further increased; Both hjt and thin film batteries have technical layout, and the layout of laser technology runs through the short, medium and long term; At present, the head customer verification is continuously advancing. It is expected that the laser transfer technology will enter the small batch delivery period. The laser transfer technology has a wide range of application scenarios and is expected to become an important performance growth point in the future. Recommend Wuhan Dr Laser Technology Corp.Ltd(300776) , Suzhou Maxwell Technologies Co.Ltd(300751) ; It is suggested to focus on Shenzhen S.C New Energy Technology Corporation(300724) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) , etc.
Wafer foundry prices rise, optimistic about the performance flexibility of equipment enterprises
TSMC will raise the OEM price of advanced and mature processes again in 2023, with an increase of 5% - 8%. The reasons include concerns about inflation, rising costs and its own large-scale production expansion plan. By 2023, it is expected to spend a total of US $100 billion to increase production capacity, including us $40-44 billion in capital expenditure in 2022. Samsung is expected to raise the price by 15% - 20% from the second half of 2022, and liandian is expected to raise the price by 4% in the second quarter of 2022. Although the demand for applications such as PC and smart phone has weakened, the demand for automotive, industry, Netcom and cloud computing is still tight due to structural driving factors Semiconductor Manufacturing International Corporation(688981) this year, the planned capital expenditure for the whole year is about 32.05 billion yuan, which is mainly used to continuously promote the expansion of old plants and three new plants. The new fixed asset investment of Shanghai Jita semiconductor port adjacent phase II investment project is expected to exceed 26 billion yuan, which continues to increase the demand for semiconductor equipment in China. We expect that the verification of domestic new machines is expected to be actively promoted, and the equipment enterprises have performance flexibility. Advanced Micro-Fabrication Equipment Inc.China(688012) ; It is suggested to focus on Naura Technology Group Co.Ltd(002371) , shengmei Shanghai, etc.
Industry rating and opinion update this week
China's manufacturing industry is in a period of continuous transformation and upgrading, which will bring broad market space to the high-end equipment industry and maintain the industry's "overweight" rating. Focus on industrial automation and high-end machine tool equipment, self controllable semiconductor equipment, carbon neutralization accelerating new energy industry that is in line with the direction of industrial upgrading and the trend of import substitution, which is better than the photovoltaic equipment and lithium battery equipment sector, the detection and inspection industry of Changpo thick snow long track attribute, and the oil service industry that is gradually recovering under the promotion of energy security.
This week's core recommendations
Advanced Micro-Fabrication Equipment Inc.China(688012) : the leading position of the company in the etching field of semiconductor equipment and the gradual expansion of the company's MOCVD equipment in the field of miniled. The company is committed to building a platform company and will gradually grow into an influential semiconductor equipment company in the world.
Guangzhou Grg Metrology&Test Co.Ltd(002967) : the third-party detection track has excellent characteristics of strong growth and weak cycle, and the policy guidance is good for the leading enterprises; The performance of traditional business is relatively excellent, and cultivating business is waiting for the optimization of customer structure; The business structure and customer strategy are optimized and adjusted, the production capacity is gradually released, and the profitability is expected to be repaired.
Wuhan Dr Laser Technology Corp.Ltd(300776) : XBC increases the value of single GW laser equipment, and the order is expected to continue to land; It is expected to achieve better first-time efficiency and con laser technology; Both hjt and thin film battery have technical layout, and the layout of laser technology runs through the short, medium and long term.
Risk tips
The macroeconomic boom is lower than expected; China's fixed asset investment is less than expected; The implementation of policies in key industries is less than expected; There is uncertainty in the company's promotion of relevant matters.
