With the government planning a piece of paper, a new round of development of new energy industry, the curtain has been opened, and the related stocks have skyrocketed. Energy industry development plan in the new rules about the dust settled,glue stick which is expected revaluation of investment opportunities in the field of it?
Nuclear power.
Nuclear power is a higher proportion of clean energy generation in a part of several other technology industries are relatively mature.
Shanghai Securities analyst Wei Chenggang nuclear power equipment manufacturing industry, said the past 5 years, the domestic nuclear industry sales of 19.65% annual compound growth rate of net profit compound annual growth rate of 44.09%. This year, sales revenue and net profit of the industry is expected to achieve 20%, respectively,glue gun and 40% growth. From the figures, the industry's rapid growth momentum has not been demonstrated.
"With the continuous improvement of local production, domestic enterprises will be in the national industrial policy to develop nuclear energy under the usher in the spring." Datong Securities analyst Cai Wenbin on the First Financial Daily "Financial Business", told reporters that nuclear power has a high qualification threshold, which enhance the core competitiveness of related businesses, in terms of access to secure orders. Targeted national development of nuclear power, corporate earnings growth determined.
From the perspective of industry chain, nuclear power can be roughly divided into the upper reaches of the nuclear fuel and raw material production, midstream and downstream nuclear power nuclear power equipment manufacturing, construction, operation and maintenance. Upstream of the fuel material can be divided into uranium fuel, nuclear grade zirconium and nuclear grade graphite several sub-sectors. Middle reaches of the nuclear power equipment mainly by nuclear and conventional islands and auxiliary equipment system of several components.
Industry generally believe that the core equipment of nuclear power and nuclear power auxiliary equipment of the most worthy of investor attention. In addition to high technology and investment barriers, the concentration of nuclear power equipment manufacturing industry is the highest level of power equipment. Guoxin Securities analyst, said silver leather house, power equipment, although the current overall valuation of slightly high, but still within reasonable limits, and nuclear-related equipment manufacturers and long-term valuation of the risk even smaller.
The manufacture of nuclear power equipment, A shares are the main related companies Dongfang Electric [33.48-5.37%] (600875.SH), Shanghai Electric [8.27-2.25%] (601727.SH), the two companies input into the nuclear power industry large, and occupy the majority of domestic market share.
Among them, the most promising DEC. An energy equipment manufacturing industry analyst, told reporters, Dongfang Electric and Shanghai Electric's nuclear power generating units produced the type, though different, but in comparison, Dongfang Electric production unit to be more mature. Dongfang Electric nuclear power plant and large-scale delivery of next year, revenue will be greatly increased. In addition, the Dongfang Electric Shanghai Electric's valuation relative to lower.
In addition, the nation's largest nuclear pressure vessels and nuclear forgings suppliers CFHI [6.02-0.99%] (601106.SH) is a nuclear power system, auxiliary equipment of the key enterprises, accounting for most of the relevant market share.
Photovoltaic power generation.
Appears in the Warburg Securities analyst Chen Liang, photovoltaic power generation is one of the most promising industries.
From the industrial base to see, after years of rapid development, China has been formed from silicon purification, battery manufacturers to produce components of a relatively complete industrial chain, the overall high level of skills. It is estimated that the global PV installed capacity was added in 2011 about 30% increase in volume, the next 5 to 10 years can keep 25% to 30% compound growth rate.
Solar stocks are powered by solar PV industry chain composed of the various aspects of the company, different industry chain enterprises are policy implications also differ.
The entire PV industry chain can be divided into polysilicon feedstock, ingots, rods and wafer production of silicon solar cell manufacturing, module packaging, solar photovoltaic power generation system production and the five links.
Many solar energy industry insiders, told reporters that the solar cell industry chain downstream production and equipment manufacturing in the next year or usher in a new round of growth in demand, which directly affected by the policy of positive core technology is the industry and high added value of photovoltaic devices manufacturing. National Development and Reform Commission made clear the new energy industry to raise the level of technical equipment, solar equipment manufacturer to obtain the preferential tax rate of 15%, and R & D on the support of the State.
Refinement furnace production of polysilicon technology [46.45-7.38%] (002006.SZ) and the production of monocrystalline furnaces Dragon Optical [29.16-3.12%] (300029.SZ) is the main equipment in the field need to focus on the company. In addition, auxiliary equipment manufacturing cutting tough materials in the production of new materials Dah [55.90-3.34%] (300080.SZ), production of cutting fluids Oak shares [58.800.68%] (300082.SZ) and production of cutting wire star technology [29.37-1.08%] (002132.SZ).
Hong Kong-listed solar energy company Comtec CEO Zhang Yi, told reporters: "Government subsidies for solar energy is mainly concentrated in the downstream industry chain, in fact, subsidized by the policy directly benefit the company much."
Hong Yashi Investment Consulting Co., Ltd. on behalf of Wen-Ping Liu, vice president, said: "Some of the vertically integrated companies may be better fundamentals."
"In this area, backdoor Hai Tong Group [43.530.00%] (600537.SH) of the billion A-share market crystalline photovoltaic industry is the largest and best companies in the industrial chain integrity." Liang said that by 2011 the expansion, the company will enter the global PV industry chain of the first phalanx, deep in the industry allows the company to accumulate the cost of production, quality control advantages.
Sealand Securities [0.000.00%] analysts talk about Qian said that although the solar stocks this year, 7 to 10 months or more than 60%, but the whole industry is 60 to 70 times earnings is still the Kaohsiung rapid development of the future of the industry reasonably be expected. Some analysts believe that the level of existing technologies in solar, the photovoltaic power generation costs are still high and the low utilization rate of such problems, current technology is not enough to support its existing new energy to the fore.
Wind power.
Wind energy development momentum over the past few years is also very fast.
Wind power industrial chain is relatively simple, the middle reaches of the wind power equipment manufacturing is the most important aspect of the upper reaches to provide raw materials for the equipment manufacturing, power generation and downstream use of equipment, power transmission to the user. Industry chain, including steel, nonferrous metals, composites, electronic components and so on. Downstream industry chain to large state-owned power generation companies and energy investors based.
Wind power equipment manufacturers, including wind power machine manufacturers and key components supporting enterprises, wind turbine wind power system is the most important part, the cost of wind farm construction investment accounting for about 70%. At present the machine to achieve large-scale production units are mainly manufacturers Goldwind [22.30-4.29%] (002202.SZ).
Some parts enterprises such as the National Materials Technology [41.90-2.67%] (002080.SZ) and the sea was controlled [16.840.54%] (002184.SZ) is also cause for concern.
"As the market for wind power resource bottlenecks too worried, given the current valuation of the relevant wind power machine is not very high." Shanxi Securities [12.390.00%] analyst Liang Yumei think.
After land-based wind power development in recent years, future growth may decline, offshore wind power began to emerge. Recently, the first round of offshore wind farm projects in China franchise tender, won Goldwind Dafeng project. The first successful bid means that the company has first-mover advantage, market share in the future get the opportunity.