The hottest power equipment trends upward, the sce

2022-08-23
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Power equipment: the trend is upward, the scenery is flying together, and the global supporting focus is on the leading

new energy vehicles: production and marketing Outlook: vehicle enterprises have a strong impulse willingness, waiting for the boom recovery of the sector: Although the subsidy for new energy vehicles has accelerated this year, and local subsidies have even been cancelled after the transition period, vehicle enterprises have a strong impulse willingness to improve their brand influence in order to seize market share and reduce the integral pressure of new energy vehicles in the future. In 2019, the production and sales scale of new energy vehicles is expected to reach 1.7 million (YoY +35%), and the annual installed capacity of power batteries is expected to reach 80gwh (YoY +40%). Global support: improve profitability and increase company performance: China has the most complete lithium battery industry chain in the world. In order to offset the pressure of price reduction caused by the decline of subsidies, optimize customer structure and improve profitability, only those with similar detection can be used as the same kind of experimental machine to understand that relevant enterprises actively seek global support, and the marginal improvement of power batteries, wet diaphragm and artificial graphite links is the largest, There is a broad space in the future, which will significantly increase the company's performance. As Tesla's large-scale production and localization approach, the domestic Tesla supply chain is expected to benefit. Infrastructure: local subsidies are supported, and the market prospect is promising: after the transition period, local subsidies will be cancelled, and will be used to support the "short board" construction of charging (hydrogenation) infrastructure and supporting operation services; At the same time, "promoting the construction of charging, hydrogenation and other facilities" was written into the government work report for the first time. With the support of multiple policies, charging piles and hydrogen refueling stations will usher in the acceleration of investment and construction this year. The charging operation sector has a high degree of concentration, a good pattern, the cost of hydrogen refueling stations continues to improve, domestic substitution of key equipment is expected, and infrastructure construction such as charging and hydrogenation will become a major investment main line in 2019h2

investment suggestions: Despite the accelerated decline of subsidies and the pressure of price reduction in the industrial chain, from the perspective of the improvement of demand and supply structure, the industry has quickly shifted to consumption driven. Global car companies have accelerated the strategic layout of electrification. In 2019, the production and sales scale of new energy vehicles is expected to reach 1.7 million (yoy+35%), and the installed capacity of power batteries is expected to reach 80gwh (YoY +40%). In the second half of the year, we will mainly focus on two main investment lines:

main line 1: Global supporting: under the global wave of electrification, we will focus on high-quality leading enterprises with global market competitiveness. (1) Power battery link: focus on the era of Ningde, the world's leading battery leader, with high-quality production capacity in short supply; It mainly recommends the second-line leaders Yiwei lithium energy, Xinwangda and GuoXuan high tech, which have made breakthroughs in overseas supporting; (2) Four material links: dangsheng technology, xinzhoubang, Xingyuan material, etc., which mainly recommend overseas businesses and are less affected by the decline of subsidies; How can we choose the experimental machine produced by Jinan Shijin in many experimental machine manufacturers? The overseas supporting facilities of French diaphragm and artificial graphite have made rapid breakthroughs, and Enjie shares, putailai, Shanshan shares, etc. have made great marginal improvements; (3) Key parts: it is mainly recommended to deeply bind Tesla's Xusheng shares and Sanhua intelligent control. Main line 2: Infrastructure: (1) charging pile: it is recommended to pay attention to trek in the charging operation link; (2) Hydrogenation link: Meijin energy (holding shares in Guangzhou Hongji, a film electrode star company, and Foshan Feichi, a holding fuel cell vehicle manufacturer), Houpu (hydrogen refueling machine), Snowman (acquiring SRM brand, main supplier of air compressor, hydrogen circulating pump, and holding shares in hygs), Furui tezhuang (hydrogen storage and transportation), Jiahua energy, etc

new energy power generation: photovoltaic: focus on low cost, high efficiency and price rise expectations. After parity, absorptive capacity and land resources become the constraints for the development of photovoltaic power stations. Under the same resource conditions, low cost and high efficiency mean a higher level of income. In addition, domestic demand is expected to start in the second half of the year, and the price of the industrial chain may rise due to tight production capacity. Wind power: focus on the faucet of fans and parts. The recovery trend of wind power has been established. With the decline of subsidies approaching, wind power will usher in rush installation in 2019, and the installed capacity is expected to reach 30GW. In addition, the bidding price of wind turbines has stabilized and rebounded, and the high price of main raw materials of parts enterprises has fallen to a certain extent. It is expected that the profitability of wind turbines and parts enterprises is expected to be significantly improved

investment suggestions: photovoltaic: focus on monocrystalline silicon leading Longji shares and polycrystalline silicon materials and high-efficiency battery leading Tongwei shares. It is suggested to focus on: Zhonglai shares, Daquan new energy, Zhonghuan shares, etc. Wind power: it is recommended to focus on wind turbine leading enterprise Goldwind technology and wind tower leading enterprise Tianshun wind energy, and it is recommended to focus on Riyue Co., Ltd., Sinoma technology, Jinlei Co., Ltd., Taisheng wind energy, Tianneng heavy industry, etc

power equipment and industrial control: ubiquitous power IOT brings new opportunities. What is the reason why ubiquitous power IOT includes four layers: perception layer, network layer, platform layer and application layer?. The sensing layer equipment includes not only electric meters, mutual inductors, concentrators, etc. of power acquisition, but also various terminals involved in power secondary equipment. In the future, the ubiquitous field of power IOT will also include non electric sensing devices such as temperature, humidity, smoke, etc. In the network, it includes transmission layer equipment such as customs, special, wide area and data center. In the future, the network layer and platform layer will become the focus of ubiquitous IOT construction. Electrical acquisition equipment has been gradually laid in the construction of smart electricity for more than 0 years in the good development of cloud 1 in the plastic market. In the future, the implementation of the network layer and platform layer may become the focus of the construction of Guofan power IOT, and the terminal equipment will also be comprehensively updated

investment suggestions: equipment enterprises are expected to benefit directly, and enterprises that realize scenario applications based on ubiquitous power IOT have broader development space. Key recommendations: Guodian Nari, Minjiang hydropower, Jinzhi technology, Guangyuan software. It is suggested to pay attention to Xinlian electronics, Langxin technology, Fuling power, Henghua technology, Haixing power, Juhua technology, etc

risk tip: the pace or intensity of the introduction of relevant policies in the industry is lower than expected; The production and sales of new energy vehicles and wind power PV are lower than expected; The electric mixing reform is insufficient or slow

this week's portfolio: Enjie shares, Yiwei lithium energy, Ningde times, Longji shares, Tongwei shares, Goldwind technology, Tianshun wind energy, Guodian Nari, putailai

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