Low base and product prices recover,
photovoltaic sector recovery in profitability . Since 12 years of industry as a
whole in a difficult period, the profitability of the industry is low-lying
period , many enterprises in the loss of the edge or even single year
substantial loss . 13 beginning of the year , subject to the domestic Japanese
market than expected and distributed generation policy support positive factors
, cell and module prices have rebounded , midstream and downstream businesses
started to recover , results are very flexible , most businesses profitable ,
substantial growth year on year .
In the EU's " double reverse "
soft landing , silicon unconstrained case, we recommend attention to the most
likely to restore profitability Takamoto shares . In addition , the domestic
distributed power station is expected to be quick start , will drive investment
opportunities in power plants and related companies stand out , the proposed
focus fought in power plant construction in Central shares and sun powerinverter faucet .
Wind power, nuclear power to be good policy
or event catalysis. In the first half , the whole price of wind power has moved
from the lowest 3600 yuan / kw rose to 4000 yuan / kw nearby , gross margin
rebounded. In addition, from 12 in
the second quarter, the wind farm related significantly improve the company's
profits , the equipment supplier's receivables owed phenomenon began to decrease , wind power equipment company 's
operating cash flow has greatly improved , we can see the entire wind power
industry chain into a virtuous cycle , perhaps lying wind power sector
performance period has passed , but still waiting for policy support to start
or event of a catalyst. Although the performance of nuclear power is relatively
stable , but we believe that its imaginary space is limited, temporarily held
sidelines. Lithium plate subject of concern investments.
In the first half , on the one hand by the
Tesla effect of lithium plate driven by sharply higher , the market for new
energy vehicles are expected to start early ; the other hand, intelligent
digital products for soft package lithium demand enables companies to rapid
growth performance . We believe that the future investment opportunities in
lithium plate will remain by the consumer electronics and new energy vehicles
to drive .
Investment strategy advice: focus on three
aspects of the investment clue: ( 1 ) distributed PV power plants driven by
investment opportunities , mainly power plants and photovoltaic wind grid tie inverter integrators such companies ; ( 2 ) consumer electronics, smart , driven by
demand for digital products soft bag lithium batteries and related raw materials
manufacturers .