Latest views
This week (202205160520), CITIC power’s new index rebounded significantly, up 7.30%, and all segments were red. Affected by the positive impact, the photovoltaic sector soared by 11.63%.
After the decline of market inertia, the accumulated benefits in the early stage were released, and the market focus returned to the growth stocks led by new energy. With the continuous fermentation of factors such as the conflict between Russia and Ukraine and the sharp rise in natural gas prices, the progress of new energy in Europe has accelerated as a whole, which has also boosted the global demand for new energy. We continue to recommend the photovoltaic sector and are optimistic about integrated module enterprises (Longji green energy, Ja Solar Technology Co.Ltd(002459) , Jingke energy, Trina Solar Co.Ltd(688599) ), inverters ( Sungrow Power Supply Co.Ltd(300274) , Ginlong Technologies Co.Ltd(300763) , Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) ) and other new energy enterprises with high overseas exports.
European installed capacity is expected to continue to improve. Recently, the European Commission announced the official “REpower EU plan”, which will further improve the renewable energy installation standard in Europe in the next 10 years. This formal plan may lead the European new energy demand to continue to increase, speed up the development, and continue to be optimistic about the positive role of the European market in boosting the global photovoltaic demand in the next 5-10 years.
The price of natural gas soared, and the anchor point of gas and electricity improved to benefit the wind and light industry chain. With the continuous strengthening of the independent demand for energy in Europe, promoting the development of renewable energy is a necessary way. The price of natural gas in Europe remained high after the sharp rise, which led to the continuous rise of PPA price, followed by the rise of wind and light grid price, which significantly improved Europe’s tolerance to the installation cost of new energy and offset some adverse factors such as the decline of installation willingness caused by the rise of component price.
Overall, market confidence gradually recovered and the sector regained capital attention. Although repeated bottoms are inevitable, we firmly believe that the high growth of the new energy sector will continue to attract investors’ attention for a long time in the future.
Some company news
Byd Company Limited(002594) ( Byd Company Limited(002594) . SZ) announced on May 20 that the company released CTB battery body integration technology and carried it on the seal model for the first time Byd Company Limited(002594) in terms of introduction, CTB technology integrates the upper cover of the battery pack with the underbody of the traditional structure to form the sandwich structure of the whole vehicle with the upper cover, “blade battery” and tray. The system volume utilization rate of power battery is increased to 66%, and the system energy density is increased by 10%. (company announcement)
Eve Energy Co.Ltd(300014) ( Eve Energy Co.Ltd(300014) . SZ) announced on the evening of May 17 that the company plans to sign an investment agreement with the Management Committee of Yuxi high tech Zone of 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. (company announcement)
Risk tips
The risk of intensified market competition, repeated epidemic and subsidy policy.
