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Energy saving opportunities for large electrical equipment industry
Time:2011-10-18  Read:3880次  【Return】

This year, the power equipment industry maintained a steady growth, a high level trend, 1-May profit up more than 30%, 25% higher than we had expected. Future transmission and distribution equipment industry is expected to accelerate the pace of development, to accelerate the reduction in the energy context, wind power and other renewable energy and high frequency, SVC, amorphous alloy transformers and other energy-saving devices face significant development opportunities, the company should be closely related attention.

       Speed ​​transmission and distribution equipment industry

       With the construction of the main battlefield of national power from the power grid construction to the construction of the transfer, transmission and distribution equipment industry has entered a rapid increase in the channel. January to May, output reached 339.93 million kVA transformer, and the growth rate accelerated in the month, 18.50% from 1-2 months, 1-3 months of 21.40% to 21.93% from January to May, the growth rate increase over last year by 1.7%, compared to the year 2006, raise the level of 4.04%.

       As a power transmission industry, Oita industry, power cables continued rapid growth this year. January to May, to complete 479.35 km, an increase of 7.85%; the growth rate in 2006 increased 4.45% over the same period. We believe that the power transmission industry in the context of speed, leading the company's growth rate will be raised, so optimistic about the power transmission leading companies such as TBEA, high level of electrical, Tianwei change, Bao Sheng shares.

       Rapid growth of power generation equipment industry

       China's power generation equipment production in the world, still maintained a high growth during the first half of this year, 1-June, 6000 kilowatts and above the national power generation capacity of production equipment has reached 623.15 million kilowatts, an increase of 20.8%. 1-6 month new power generation equipment production rose 5.6%.

       According to China's State Power "Eleventh Five-Year Plan", the next time the power industry reform theme by capacity expansion, to improve the supply and demand into restructuring, industrial upgrading stage. In 2007, the plan put into 95 million kilowatts installed capacity, while shutting down 12 million kilowatts installed capacity of around backward. At present more than 60% of new orders for 600MW or more products, supercritical or ultra-supercritical generating share rose, a few years ago mainstream 300MW sub-critical generators will be eliminated from the domestic market. Three Power Generation Group has a total market share in recent years to about 80%, the small producers lack the technology to produce high standard products and equipment, so the market share of the three major power groups may be due to the escalation of market demand to rise further. New orders from three major OEMs situation, new orders during the first half of 2007 more than last year. Shanghai Electric Group 07 years ago, five months of new orders for electrical equipment more than 11 million kilowatts, more than a year ago, Dongfang Electric Corporation in new orders from January to May 2007 amounted to 27.8 billion yuan, an increase of 110%, therefore, We believe that the three major power generation groups from the current large number of orders in hand and new order growth point of view, to maintain steady growth to its performance after 2010 is assured, the current valuation of power generation equipment market is relatively undervalued.

       Significant energy saving opportunities

       China energy saving has been put to an unprecedented strategic level. In the beginning, based on the central government has recently increased by 100 billion yuan of funds for the promotion of energy conservation. Earlier this year, China arranged debt and invest 6.3 billion yuan from the central budget, the central budget has arrangements 50 billion yuan to support energy conservation. Coupled with the recent increase of 100 billion yuan of financial funds to support energy saving in China this year the funds have totaled 21.3 billion yuan. Which for ten key energy conservation projects and energy management capacity-building funds of 90 billion, 13 times last year. "Eleventh Five-Year" period, China set the unit GDP energy consumption decreased by 20% of the target. However, the saving targets in the "Eleventh Five-Year" did not start on schedule to reach the first year, last year, China's energy consumption decreased by 1.3% and 4% of annual target there is not a small gap. From January to May, China's yuan GDP energy consumption fell more than 2%, reduce sulfur dioxide emissions by 0.6%, saving the situation is much better than last year.

       Energy saving electrical equipment in China will bring significant opportunities for development, from power generation and transmission side to side to play the role of energy saving products are worthy of our attention. We are optimistic about the wind power generation industry side, the related companies such as Dongfang Electrical Machinery, Huayi Electric, Hunan Electric shares, Changzheng Electric; electricity end energy-efficient electrical equipment includes a high voltage inverter, SVC, amorphous alloy transformers, mainly related companies are optimistic about the Hidenobu shares, confidence Electric.

       In addition, following the "Renewable Energy Law" promulgated after another to encourage renewable energy and conservation initiatives - "grid enterprises purchase renewable energy electricity regulatory measures," formally introduced on July 25 and will be September 1, 2007 shall come into force. According to the "measures", including hydropower, wind power, biomass power, solar power, ocean power and geothermal power generation, renewable energy, including electricity, by grid enterprises purchase. In addition to medium-sized hydroelectric power, the renewable energy generators do not participate in bidding, the implementation of the high price difference between the subsidy and tariff policies.
 
       We are currently the most promising wind power, because of its scale and cost advantages above in addition to the development of hydropower and other renewable forms of energy, the proposed wind power equipment closely related to listed companies.