The endogenous power of the hottest electrical equ

Electrical equipment: endogenous power strengthening, medium-term inflection point gradual

key points of the report weekly view: endogenous power strengthening, medium-term inflection point gradual current time point, we believe that the marginal impact of the subsidy policy is weakening and the non subsidy side policy begins to work, the demand growth rate of the industry during the year is supported, and driven by parity, the general direction of future growth of the industry is more and more clear, and the spot market price of short-term imported ore rises; Weak and stable operation of domestic ore market; The billet market was mixed; The coke market showed an overall stable and partial decline pattern; Scrap market is stable and rising; The continued decline of pig iron market will further highlight the value of industry allocation. In terms of electric vehicles, affected by the previous subsidy new deal and "spontaneous combustion" and other individual events, the trend has been weak. With the clarity of the pattern and overseas breakthroughs, the second and third quarters will become the leading long-term buying point; In terms of wind power, the sector has been adjusted in the early stage due to policies and other factors. At present, it is expected to release, and the price performance ratio of the sector is gradually showing. In addition, the prosperity of photovoltaic and ubiquitous power IOT continues to rise. This week, the construction plan of ubiquitous power IOT was issued, which means that the relevant construction investment is about to fall, and the recommendation is maintained

new energy vehicles: don't hide your eyes from the clouds and stick to the general trend of the industry. This week, the trend of the sector is weak. In addition to being affected by the decline, individual events such as "spontaneous combustion" also affect the sentiment of the sector. We believe that the occurrence of individual accidents is unlikely to be affected by the adjustment of difficult automobile transportation from the perspective of probability, and safety will not become a problem restricting the development of vehicles. The extensive discussion of this event also reflects that electric vehicles are no longer a niche product in the past, The growth trend of the industry remains unchanged. This week, a number of Companies in the industrial chain released financial reports. The high boom growth in the first quarter was basically realized, but the differentiation of profits also continued. Companies with core competitiveness, continuous share growth or accelerated overseas expansion of 0.61 ~ 0.70, as well as the pattern became clearer, and the target of gradually stabilizing profits remained the focus of attention

Fengguang storage: the photovoltaic boom recovered smoothly, and the space reappeared after wind power adjustment. This week, the photovoltaic sector fluctuated steadily. From the perspective of industrial chain prices, the overall trend of reaching the bottom and stabilizing before continued, and some product prices rebounded slightly. On the whole, the industry boom in the month will be stable and upward, and the overall price of the industrial chain will tend to be stable. We continue to emphasize the judgment of the time point of the monthly position increase of the industry. In terms of wind power, due to the influence of the market, it has been adjusted recently. We believe that the high growth trend of the industry in is clear, the installed capacity is expected to exceed expectations, and the later cost reduction will contribute to the profitability elasticity. In terms of investment, after recent adjustments, the high expectations of the market were gradually released, and the valuation of the sector returned to a record low, continuing to be optimistic about the investment opportunities of the sector

power equipment: ubiquitous construction is about to officially start, and there are signs of recovery in the industrial control industry. The 2019 construction plan of guoubiquitous power IOT has been issued to the provincial company. This plan is promoted in the form of pilot, and it is proposed to carry out a total of 57 work tasks (including 27 key construction tasks) and 25 comprehensive demonstration projects in 2019. Maintaining the previous view, the continuous introduction of relevant documents will provide continuous catalysis for the ubiquitous power IOT sector, and the subsequent project launch corresponds to the actual investment of Terumo and asahimedia (Japan), which occupy 80% of the market for blood purification and extracorporeal circulation system materials and devices; The dental implant and dental material market is basically Straumann (Switzerland), which continues to focus on (), and actively pays attention to the asset replacement between the information industry group and (). In terms of industrial control, manufacturing investment is picking up. We believe that the configuration cost performance of industrial control and high-quality components enterprises is improving