Phoenix New Media Hong Kong stocks | Anxin International Development Research Index, Hong Kong's Hang Seng Index rose 1.17% last week, the Hang Seng Composite Index rose 0.84%, and the Hang Seng China Enterprises Index rose 1.02%. The Wande New Energy concept Index rose 2.75%, significantly outperforming the Hong Kong stock market. In the Hang Seng 12 industry index, can be ranked second, only lower than the Hang Seng raw materials industry index. From the comparison of PE (TTM), the Wande New Energy concept Index has a higher valuation, ranking fourth, only lower than the Hang Seng Healthcare Index, the Hang Seng non-essential Consumer Industry Index and the Hang Seng Information Technology Industry Index.
New energy power operators are among the top gainers, due to the official launch of green power trading pilot in China, the transaction scale and premium are considerable, which is expected to have a positive impact on the income and net profit of new energy power operators. China's green power trading pilot was officially launched last week. On the first trading day, September 7, 259 market players from 17 provinces completed 7.935 billion kilowatt-hours of green power transactions online and offline. Of these, 6.898 billion kilowatt-hours were completed in Beijing Electric Power Trading Center, while the remaining 1.037 billion kilowatt-hours were completed in Guangzhou Electric Power Trading Center. According to the preliminary calculation, this transaction can reduce the burning of standard coal by 2.436 million tons and the emission of carbon dioxide by 6.0718 million tons. A number of new energy power operators participated in the power transaction.
Take the CGN new energy 1811.HK, which is the subject of Anxin International's core coverage, as an example, the trading volume of green power has reached 1.972 billion kwh, accounting for 25 per cent of the national trading volume (compared with 5.8 billion kwh of wind and solar power generation in 2020). The transaction price is 3-5 cents per kilowatt-hour higher than the normal medium-and long-term agreement, and about 2 cents higher than the benchmark price of thermal power. The bank believes that the green power deal reflects the carbon reduction value of wind power and photovoltaic parity projects, which has a positive impact on the net profit of new energy power operators. Investors are advised to continue to pay attention to new energy operators.
Anxin International recommends to focus on the following shares, photovoltaic industry chain: new Special Energy 1799.HK; Wind Power Industry chain: Xinjiang Goldwind Science & Technology 2208.HK; New Energy Farm Operation: China Longyuan Power Group Corporation 916.HK; Zhongguang Nuclear New Energy 1811.HK; Battery and Energy Storage: Xinwangda 300207.SZ; Guoxuan Hi-Tech 002074.SZ.
Risk tips: new energy installation is not as expected; repeated epidemic, commodity prices, logistics costs rise, the capacity of the upper and lower reaches of the industrial chain does not match.