Silicon price drop narrowed, sea breeze opened the first bid of 2022 [institutional review]

Photovoltaic: the decline of silicon material is significantly narrowed, and the overall demand of the industrial chain is improving. Silicon material: last week, the price of silicon material continued to decline, the decline narrowed, and the average transaction prices of single crystal re-feeding material, single crystal densifier and single crystal cauliflower all closed to less than 0.7%. Recently, the inquiry and bargaining situation in the silicon material market has significantly increased, and the demand for silicon material has recovered. the price tends to be clear. Silicon wafers: prices began to stop falling and rebounded, the situation of low-cost consumption inventory improved, silicon wafer manufacturers began to gradually increase production and resume production, and downstream terminals were willing to stock before the Spring Festival, and the operating rate of downstream battery manufacturers warmed up. Silicon wafer end demand is improving; battery wafer & components: last week, the price of battery chips and components was relatively stable, and the operating rate of downstream components increased, which positively promoted the demand for battery wafers. The overall demand of the industrial chain is gradually improving, waiting for the restoration of the industrial boom. The three ministries jointly issued articles to encourage the construction of wind power and photovoltaic power in rural areas. On January 5, the State Energy Administration, the Ministry of Agriculture and villages, and the State Bureau of Rural Revitalization jointly issued a circular on the implementation of opinions on accelerating the Transformation and Development of Rural Energy to help Rural Revitalization, pointing out that by 2025, a number of green and low-carbon pilot projects for rural energy will be completed, the proportion of wind power, solar energy, biomass energy and geothermal energy in rural energy will continue to increase, and the guarantee capacity of rural Electroweb will be further enhanced. With the development and growth of distributed renewable energy, the new green and low-carbon model new business type has been widely used, the new energy industry has become an important supplement to the rural economy and an important channel to increase farmers' income, and a green and diversified rural energy system has been rapidly formed. N-type 182 components efficiently lead the transformation of the photovoltaic industry. N-type technology has gradually become the mainstream product technology in the photovoltaic market, and efficient N-type product solutions are leading great changes in the whole industry. Under the condition that the DC side capacity, land availability, system design principles and component prices are all determined, N-type products have great advantages in the kilowatt-hour cost and return on investment of large surface power station projects in China and Spain. it can reduce the initial investment cost of the project, has the characteristics of high efficiency, high double-sided rate and low attenuation, and is expected to become the mainstream trend of the development of photovoltaic industry in the future.

Wind power: Golden Wind Science and Technology in 2022 offshore wind power first bid. On January 5, the three Gorges Group announced the centralized bundling procurement of equipment and materials (offshore wind turbines and tower tubes) in the new energy field in 2021 (the first batch) (the first lot). The specific project is the procurement of wind turbines and tower tube equipment for the first phase of Changyi Laizhou Bay offshore wind power project, with a total bidding capacity of 300MW. The first winning candidate is Goldwind Technology, with a bid price of 1.343 billion yuan and a unit price of 4477 yuan / kW;. The second winning candidate is Dongfang Electric, the bid price is 1.26 billion yuan, equivalent to 4200 yuan / kW;, the third winning candidate is electric and wind power, the bid quotation is 1.506 billion yuan, equivalent to 5020 yuan / kW.

Investment suggestion and investment target

Photovoltaic plate recommends Longji shares (601012, buy), Tongwei shares (600438, buy), Jingao Technology (002459, buy), Haiyou New Materials (688680, buy), Foster (603806, buy), it is recommended to pay attention to Trina Solar (688599, unrated); The wind power plate recommends Xin Qiang Lian (300850, buy), Riyue shares (603218, overweight), and recommends to pay attention to Tianshun Wind Energy (002531, unrated), Daijin heavy Industry (002487, unrated), Hengrun shares (603985, unrated), Oriental Cable (603606, unrated).

Risk hint

The growth of photovoltaic industry is lower than expected; the growth of wind power industry is lower than expected.