The third round of the China-US Strategic and Economic Dialogue triggered new market hotspots. Wang Qishan, vice premier of the State Council, proposed that “the US hopes that the United States will make breakthroughs in relaxing China’s high-tech products export control and other issues of concern to China and achieve mutual benefit and win-win results, so as to benefit the people of the two countries.†U.S. President Barack Obama responded positively to this. He stated that "The U.S. is willing to export more high-tech products to China and other countries, which is in the interest of both parties." This can not help but make investors yearn for the relevant high-tech industries in the A-share market. "Securities Daily" Market Research Center today specializes in the analysis of new energy, a new generation of information technology and other related industry stocks.
The potential for solar energy development is endless. Recently, the National Development and Reform Commission issued the "Guidance Catalogue for Industrial Structure Adjustment." Looking at the latest version of the guide, it is not difficult to find that the country's new energy industry policy has been fine-tuned: the wind power of the unlimited scenery during the “Eleventh Five-Year Plan†period has been understated, while the sub-sectors such as photovoltaics that are still far away from industrialization have been subject to policies. stand by.
According to industry insiders, in the long run, with the depletion of traditional energy sources, solar energy will become the most important energy with its unique advantages, and the future development space is huge. With the continuous improvement of technologies in all aspects of the industry chain and the drive for continuous reduction in costs, the global solar energy industry will overcome the impact of European subsidies and continue to develop rapidly with the rise of the United States, Japan, and India, driven by the nuclear crisis. .
From the overall perspective of the solar energy industry chain, the upstream industry's critical equipment and materials industry is still very booming, and the degree of competition is lower than that in the middle and lower reaches, with higher gross profit margin and better profitability. With the breakthrough in technology of domestic upstream equipment and materials companies, and with the cost advantage and competition from foreign manufacturers, there is plenty of room for import substitution and export, and its growth and development potential is much higher than that of mid-and-downstream companies.
Solar energy companies with full industry chain, technology, and scale advantages have more competitive advantages. The solar energy industry is in the process of industrial concentration. Many companies have expanded their production and expanded upstream and downstream. Among them, solar energy companies with full industry chain, technology, and scale advantages will obtain higher gross margins, raw materials, and order guarantees, and will win in the long-term competition.
Taking into account the valuation and the decline in European subsidies, Guosen Securities gave the solar industry a "carefully recommended" investment rating. China has the world's largest solar cell production capacity and a complete industrial chain. With the rapid growth of the solar energy industry, China will continue to exert the power of Chinese manufacturing and achieve more brilliant development.
Haitong Securities gave Haitong Group, TBEA, Tianlong Optoelectronics, Zhengtai Electric, and various stocks a "buy" investment rating in its recent industry report; and gave Tianwei Change, Seiko Technology, and KSTAR a "overweight" investment. Rating.
Nuclear power equipment manufacturers have a huge market opportunity On May 8, the deputy chief engineer of China National Nuclear Corporation issued a speech on “Challenging Challenges to Ensure the Safety and Efficient Development of Nuclear Power†at the 7th Cross-Straits Economic and Trade Forum. He said that nuclear power plants are currently under construction. A "health check" is also underway and is expected to end by the end of August. On the same day, the 7th Cross-Strait Economic, Trade and Culture Forum issued 19 joint proposals. In the fourth proposal, the forum stated that “supporting the two conferences will include nuclear power security issues in discussions†and “promote the establishment of cross-strait nuclear safety information notification mechanismsâ€.
The Great Japan Earthquake triggered a large-scale nuclear accident at the Fukushima Daiichi Nuclear Power Plant. The "nuclear panic" is spreading all over the world. The pace of development of China's nuclear power industry is expected to cool down from the irrational "great leap forward" type development to the stable and safe "scientific development" from long-term. It is beneficial to see the sound development of China's nuclear power industry.
Industry analysts believe that the current status of China's nuclear power technology development is that it has a relatively complete nuclear industry system, the construction speed of nuclear power plants is accelerating, and many key technologies such as fast experimental neutron breeder reactors and high-temperature gas test reactors have made important progress. The existing problems are: the ability to independently produce large-scale core equipment is not yet available; the gap between the third- and fourth-generation advanced reactors and the international advanced level is still large.
Guoyuan Securities gives the industry a "neutral" investment rating. In the next 10 years, the total investment in China's nuclear power equipment market will exceed 300 billion yuan, and the average annual investment will be approximately 30 billion yuan. Therefore, nuclear power equipment vendors have huge market opportunities. The listed companies involved in nuclear power equipment are mainly domestic large-scale power equipment manufacturers. Affected by Japan's nuclear power crisis, shares of Dongfang Electric and other companies continued to fall and were already in oversold regions, giving a "recommended" investment rating.
The prospects for cooperation between China and the United States in the smart grid are broad. According to reports, during the third round of the China-US Strategic and Economic Dialogue, the two sides reached consensus on energy cooperation and conducted in-depth smart grid development, large-scale wind power development, natural gas distributed energy, and shale gas. Practicing cooperation with aviation biofuels and other areas, and promised to share energy regulatory experience and practical information.
State Grid announced in March that it will promote the construction of 11 smart grid pilot projects in 2011. Among them, 67 smart substations will be built; a distribution automation system will be built in the core areas of 19 cities; 50 million smart meters will be promoted and applied; and 173 electric cars will be built. Car charging and exchanging power stations and 9211 charging piles; completed 25 smart communities/buildings; promoted the construction of 62,000 households of fiber-optic cables to households; completed the construction of a smart power grid integrated demonstration project in the Tianjin Eco-city Smart City; accepted wind power capacity of 20 million kilowatts; Smart grid standard 88 items.
According to the plan of the State Grid, 2011 is the first year for the smart grid to enter the stage of comprehensive construction, and it is also the year after the start of the past. On the one hand, all kinds of pilots of the smart grid will continue to be fully rolled out last year; on the other hand, the various standards of the smart grid will also be introduced intensively.
Hongyuan Securities gives the industry a "buy" investment rating. At the same time, XJ Electric will increase its investment rating. The company is the most complete company in the power equipment industry chain. Under the condition that the smart grid is fully started, the company will fully benefit from the rapid construction of smart substations, distribution automation, smart meters, wind power acceptance, and electric vehicle charging and replacement. Among them, in the field of electric car charging, XJ Power Supply Company, a subsidiary of XJ Group, completed the design and production of 196 9kW chargers and 56 30kW chargers at the Shanghai World Expo bus charging station project. Leading position in the field.
New Energy Vehicles Entering a Comprehensive Support Phase New energy automotive vehicles refer to the use of unconventional vehicle fuels as a source of power, advanced technologies for integrated vehicle power control and drive, and advanced technologies with advanced technologies, new technologies, and new structures. . New energy vehicles include hybrid vehicles, pure electric vehicles, fuel cell electric vehicles, hydrogen engine vehicles, and other new energy sources (such as high-efficiency energy storage, dimethyl ether) automobiles and other categories of products.
In 2010, China was increasing its support for new energy vehicles. Starting from June 1, 2010, the state launched private subsidies for the purchase of new energy vehicles in five cities including Shanghai, Changchun, Shenzhen, Hangzhou and Hefei. In July 2010, the national government increased the number of demonstration and promotion cities for 1,000 energy-saving and new energy vehicles in ten cities from 20 to 25. New energy vehicles are entering a comprehensive policy support phase.
According to recent sources, the "China's New Energy Vehicle Development Plan" jointly drafted by the ministry led by the Ministry of Industry and Information Technology has been submitted to the State Council for deliberation and may be released in early July. According to sources, there is a new incentive plan for new energy vehicles in this plan. In the ten years from 2011 to 2020, the central government will invest 100 billion yuan to support the new energy automotive industry. Among them, RMB 50 billion is a special fund for the development of energy-saving and new energy auto industry, focusing on supporting key technologies for R&D and industrialization, promoting joint development mechanisms such as public platforms, RMB 30 billion to support the demonstration and promotion of new energy vehicles, and RMB 20 billion for Promote energy-saving cars that focus on hybrid vehicles.
Orient Securities stated that it is relatively optimistic about vehicle production and core spare parts enterprises. Taking a battery as an example, according to the calculation of the cost of 60,000 yuan for the battery of a new energy hybrid vehicle, the battery manufacturers will usher in a market share of 30 billion yuan, from the current one billion yuan to about 32.5 billion yuan in 2015. Compound growth rate exceeds 50%. It is recommended to focus on Dayang Electric, Wanxiang Qianchao, Shuguang Stock, and Foton Motor.
Everbright Securities believes that theme investment opportunities will continue to be concentrated in the battery-related industry chain in the coming period, including upstream ore resources, midstream diaphragms, aluminum hexafluorophosphate and other monopoly industries, and downstream power batteries and management systems. It is recommended to pay attention to Doduo, Tibet Mining, Tuobang shares, Foshan Lighting.
Ping An Securities believes that taking into account the new energy vehicles as a strategic emerging industry, the development of a huge space, its 30-50 times the price level is reasonable. Key companies recommend: Shanghai Automotive, Foton Motor, Dayang Electric, Fosugufen.
The new generation of information technology will be focused on the promotion of strategic emerging industries in the “Twelfth Five-Year Planâ€. The emerging industries are the key supporters of the country’s future. Information technology has been established as one of the seven strategic emerging industries and will be focused on. According to relevant media reports, a few days ago, the person in charge of the Ministry of Industry and Information Technology stated that the "Twelfth Five Year Plan" for the development of a new generation of information technology industry has been revised several times and is currently completed and ready for submission to the State Council. The new generation of information technology is divided into six areas: next-generation communications networks, Internet of things, triple-play, new flat panel displays, high-performance integrated circuits, and high-end software represented by cloud computing.
The “12th Five-Year Plan†for the development of a new generation of information technology industry pointed out that major breakthroughs in the core technologies of the global information technology industry are approaching, and the computing system structure is facing profound changes; network technologies are developing toward broadband, wireless, intelligent, ultra-high-speed systems, and large capacity; Software technology accelerates the development of networking, systemization, service, and high credibility. Perceiving technology is breaking through to intelligence, and industrial value chains have been integrated and extended. Chinese Academy of Engineering Academician He Heshun stated that during the "12th Five-Year Plan" period, the mission of China's IT industry is to seize the commanding heights of the new round of global technological competition, and support the in-depth integration of informatization and industrialization to speed up the process of new industrialization.
Orient Securities said that the plan brings investment opportunities in the following three areas for the information network industry: First, increase the bandwidth infrastructure. The global broadband construction in 2010-2015 is bound to accelerate through the process of 2000-2010, driving the high-speed development of broadband investment. Expected high-bandwidth related beneficiaries include ZTE, Fiberhome Communications, Sunsea Communications, Ascension Technologies, and Shenglu Communications.
Second, smart pipelines - operators' value capture. In the next-generation network ecosystem, operators have the status of residence. Because of the contradiction between operators' income and capital expenditures, they must change the income model, identify valuable users through “smart pipelineâ€, and expand income levels. . It is expected that the investment in the "Smart Pipes" of the three major operators will be about 10 billion yuan. It is expected that smart beneficiaries related companies include China Unicom, China Taiyue, Zhongchuang Xintest, Oriental Guoxin, etc.
Third, the new media - a wonderful interpretation of the triple play. Video is the most typical application of triple play, and it is also the most direct embodiment of the advantages of high bandwidth. It is expected that New Media’s related beneficiaries include broadcast and television information, and focus technology.
The potential for solar energy development is endless. Recently, the National Development and Reform Commission issued the "Guidance Catalogue for Industrial Structure Adjustment." Looking at the latest version of the guide, it is not difficult to find that the country's new energy industry policy has been fine-tuned: the wind power of the unlimited scenery during the “Eleventh Five-Year Plan†period has been understated, while the sub-sectors such as photovoltaics that are still far away from industrialization have been subject to policies. stand by.
According to industry insiders, in the long run, with the depletion of traditional energy sources, solar energy will become the most important energy with its unique advantages, and the future development space is huge. With the continuous improvement of technologies in all aspects of the industry chain and the drive for continuous reduction in costs, the global solar energy industry will overcome the impact of European subsidies and continue to develop rapidly with the rise of the United States, Japan, and India, driven by the nuclear crisis. .
From the overall perspective of the solar energy industry chain, the upstream industry's critical equipment and materials industry is still very booming, and the degree of competition is lower than that in the middle and lower reaches, with higher gross profit margin and better profitability. With the breakthrough in technology of domestic upstream equipment and materials companies, and with the cost advantage and competition from foreign manufacturers, there is plenty of room for import substitution and export, and its growth and development potential is much higher than that of mid-and-downstream companies.
Solar energy companies with full industry chain, technology, and scale advantages have more competitive advantages. The solar energy industry is in the process of industrial concentration. Many companies have expanded their production and expanded upstream and downstream. Among them, solar energy companies with full industry chain, technology, and scale advantages will obtain higher gross margins, raw materials, and order guarantees, and will win in the long-term competition.
Taking into account the valuation and the decline in European subsidies, Guosen Securities gave the solar industry a "carefully recommended" investment rating. China has the world's largest solar cell production capacity and a complete industrial chain. With the rapid growth of the solar energy industry, China will continue to exert the power of Chinese manufacturing and achieve more brilliant development.
Haitong Securities gave Haitong Group, TBEA, Tianlong Optoelectronics, Zhengtai Electric, and various stocks a "buy" investment rating in its recent industry report; and gave Tianwei Change, Seiko Technology, and KSTAR a "overweight" investment. Rating.
Nuclear power equipment manufacturers have a huge market opportunity On May 8, the deputy chief engineer of China National Nuclear Corporation issued a speech on “Challenging Challenges to Ensure the Safety and Efficient Development of Nuclear Power†at the 7th Cross-Straits Economic and Trade Forum. He said that nuclear power plants are currently under construction. A "health check" is also underway and is expected to end by the end of August. On the same day, the 7th Cross-Strait Economic, Trade and Culture Forum issued 19 joint proposals. In the fourth proposal, the forum stated that “supporting the two conferences will include nuclear power security issues in discussions†and “promote the establishment of cross-strait nuclear safety information notification mechanismsâ€.
The Great Japan Earthquake triggered a large-scale nuclear accident at the Fukushima Daiichi Nuclear Power Plant. The "nuclear panic" is spreading all over the world. The pace of development of China's nuclear power industry is expected to cool down from the irrational "great leap forward" type development to the stable and safe "scientific development" from long-term. It is beneficial to see the sound development of China's nuclear power industry.
Industry analysts believe that the current status of China's nuclear power technology development is that it has a relatively complete nuclear industry system, the construction speed of nuclear power plants is accelerating, and many key technologies such as fast experimental neutron breeder reactors and high-temperature gas test reactors have made important progress. The existing problems are: the ability to independently produce large-scale core equipment is not yet available; the gap between the third- and fourth-generation advanced reactors and the international advanced level is still large.
Guoyuan Securities gives the industry a "neutral" investment rating. In the next 10 years, the total investment in China's nuclear power equipment market will exceed 300 billion yuan, and the average annual investment will be approximately 30 billion yuan. Therefore, nuclear power equipment vendors have huge market opportunities. The listed companies involved in nuclear power equipment are mainly domestic large-scale power equipment manufacturers. Affected by Japan's nuclear power crisis, shares of Dongfang Electric and other companies continued to fall and were already in oversold regions, giving a "recommended" investment rating.
The prospects for cooperation between China and the United States in the smart grid are broad. According to reports, during the third round of the China-US Strategic and Economic Dialogue, the two sides reached consensus on energy cooperation and conducted in-depth smart grid development, large-scale wind power development, natural gas distributed energy, and shale gas. Practicing cooperation with aviation biofuels and other areas, and promised to share energy regulatory experience and practical information.
State Grid announced in March that it will promote the construction of 11 smart grid pilot projects in 2011. Among them, 67 smart substations will be built; a distribution automation system will be built in the core areas of 19 cities; 50 million smart meters will be promoted and applied; and 173 electric cars will be built. Car charging and exchanging power stations and 9211 charging piles; completed 25 smart communities/buildings; promoted the construction of 62,000 households of fiber-optic cables to households; completed the construction of a smart power grid integrated demonstration project in the Tianjin Eco-city Smart City; accepted wind power capacity of 20 million kilowatts; Smart grid standard 88 items.
According to the plan of the State Grid, 2011 is the first year for the smart grid to enter the stage of comprehensive construction, and it is also the year after the start of the past. On the one hand, all kinds of pilots of the smart grid will continue to be fully rolled out last year; on the other hand, the various standards of the smart grid will also be introduced intensively.
Hongyuan Securities gives the industry a "buy" investment rating. At the same time, XJ Electric will increase its investment rating. The company is the most complete company in the power equipment industry chain. Under the condition that the smart grid is fully started, the company will fully benefit from the rapid construction of smart substations, distribution automation, smart meters, wind power acceptance, and electric vehicle charging and replacement. Among them, in the field of electric car charging, XJ Power Supply Company, a subsidiary of XJ Group, completed the design and production of 196 9kW chargers and 56 30kW chargers at the Shanghai World Expo bus charging station project. Leading position in the field.
New Energy Vehicles Entering a Comprehensive Support Phase New energy automotive vehicles refer to the use of unconventional vehicle fuels as a source of power, advanced technologies for integrated vehicle power control and drive, and advanced technologies with advanced technologies, new technologies, and new structures. . New energy vehicles include hybrid vehicles, pure electric vehicles, fuel cell electric vehicles, hydrogen engine vehicles, and other new energy sources (such as high-efficiency energy storage, dimethyl ether) automobiles and other categories of products.
In 2010, China was increasing its support for new energy vehicles. Starting from June 1, 2010, the state launched private subsidies for the purchase of new energy vehicles in five cities including Shanghai, Changchun, Shenzhen, Hangzhou and Hefei. In July 2010, the national government increased the number of demonstration and promotion cities for 1,000 energy-saving and new energy vehicles in ten cities from 20 to 25. New energy vehicles are entering a comprehensive policy support phase.
According to recent sources, the "China's New Energy Vehicle Development Plan" jointly drafted by the ministry led by the Ministry of Industry and Information Technology has been submitted to the State Council for deliberation and may be released in early July. According to sources, there is a new incentive plan for new energy vehicles in this plan. In the ten years from 2011 to 2020, the central government will invest 100 billion yuan to support the new energy automotive industry. Among them, RMB 50 billion is a special fund for the development of energy-saving and new energy auto industry, focusing on supporting key technologies for R&D and industrialization, promoting joint development mechanisms such as public platforms, RMB 30 billion to support the demonstration and promotion of new energy vehicles, and RMB 20 billion for Promote energy-saving cars that focus on hybrid vehicles.
Orient Securities stated that it is relatively optimistic about vehicle production and core spare parts enterprises. Taking a battery as an example, according to the calculation of the cost of 60,000 yuan for the battery of a new energy hybrid vehicle, the battery manufacturers will usher in a market share of 30 billion yuan, from the current one billion yuan to about 32.5 billion yuan in 2015. Compound growth rate exceeds 50%. It is recommended to focus on Dayang Electric, Wanxiang Qianchao, Shuguang Stock, and Foton Motor.
Everbright Securities believes that theme investment opportunities will continue to be concentrated in the battery-related industry chain in the coming period, including upstream ore resources, midstream diaphragms, aluminum hexafluorophosphate and other monopoly industries, and downstream power batteries and management systems. It is recommended to pay attention to Doduo, Tibet Mining, Tuobang shares, Foshan Lighting.
Ping An Securities believes that taking into account the new energy vehicles as a strategic emerging industry, the development of a huge space, its 30-50 times the price level is reasonable. Key companies recommend: Shanghai Automotive, Foton Motor, Dayang Electric, Fosugufen.
The new generation of information technology will be focused on the promotion of strategic emerging industries in the “Twelfth Five-Year Planâ€. The emerging industries are the key supporters of the country’s future. Information technology has been established as one of the seven strategic emerging industries and will be focused on. According to relevant media reports, a few days ago, the person in charge of the Ministry of Industry and Information Technology stated that the "Twelfth Five Year Plan" for the development of a new generation of information technology industry has been revised several times and is currently completed and ready for submission to the State Council. The new generation of information technology is divided into six areas: next-generation communications networks, Internet of things, triple-play, new flat panel displays, high-performance integrated circuits, and high-end software represented by cloud computing.
The “12th Five-Year Plan†for the development of a new generation of information technology industry pointed out that major breakthroughs in the core technologies of the global information technology industry are approaching, and the computing system structure is facing profound changes; network technologies are developing toward broadband, wireless, intelligent, ultra-high-speed systems, and large capacity; Software technology accelerates the development of networking, systemization, service, and high credibility. Perceiving technology is breaking through to intelligence, and industrial value chains have been integrated and extended. Chinese Academy of Engineering Academician He Heshun stated that during the "12th Five-Year Plan" period, the mission of China's IT industry is to seize the commanding heights of the new round of global technological competition, and support the in-depth integration of informatization and industrialization to speed up the process of new industrialization.
Orient Securities said that the plan brings investment opportunities in the following three areas for the information network industry: First, increase the bandwidth infrastructure. The global broadband construction in 2010-2015 is bound to accelerate through the process of 2000-2010, driving the high-speed development of broadband investment. Expected high-bandwidth related beneficiaries include ZTE, Fiberhome Communications, Sunsea Communications, Ascension Technologies, and Shenglu Communications.
Second, smart pipelines - operators' value capture. In the next-generation network ecosystem, operators have the status of residence. Because of the contradiction between operators' income and capital expenditures, they must change the income model, identify valuable users through “smart pipelineâ€, and expand income levels. . It is expected that the investment in the "Smart Pipes" of the three major operators will be about 10 billion yuan. It is expected that smart beneficiaries related companies include China Unicom, China Taiyue, Zhongchuang Xintest, Oriental Guoxin, etc.
Third, the new media - a wonderful interpretation of the triple play. Video is the most typical application of triple play, and it is also the most direct embodiment of the advantages of high bandwidth. It is expected that New Media’s related beneficiaries include broadcast and television information, and focus technology.
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