Guoanda is a special fire hydrant in China, which has a number of core technologies in fire extinguishing agents, driving agents, product structure and so on. In recent years, the company has solved the fire protection problems in special fields such as lithium battery boxes and UHV converter stations for new energy vehicles, and prospectively laid out electrochemical energy storage fire protection products. Among them, the power + energy storage industry is on the eve of the outbreak, and the company is about to take off.
Electric power fire fighting: the substation fire fighting market is vast, and the company has the advantages of technology and customers.
The construction of UHV lines will speed up the upgrading of the stock of superimposed high-voltage and above substations during the 14th five-year Plan period, and we estimate that the fire protection market of China's high-voltage, ultra-high-voltage and ultra-high-voltage substations will be close to 100 billion during the 14th five-year Plan period. The company and the State Grid have the basis of deep cooperation to jointly carry out the research and development of UHV power grid fire protection products, technical advantages and customer stickiness to build a solid wall, high certainty is expected to fully share the industry dividend.
Energy storage fire fighting: cut into the golden track of energy storage fire fighting to create the second growth curve of the company.
The electrochemical energy storage installation is accelerated by the upstream overlay policy, and the energy storage fire fighting is about to take off. According to our estimates, the CAGR of the energy storage fire fighting market will reach 75% from 2022 to 2026, and the space will reach 11.1 billion in 2026. Based on the profound technical background, the company has successfully developed the fire prevention and control and inerting explosion suppression system of lithium battery energy storage cabinets, and set up a special energy storage department to actively cut into the golden track of energy storage and fire fighting. The efficient solution superimposes the market first-mover advantage, and the energy storage business is expected to become the company's second growth curve.
Risk factors: the company's product and technology research and development failed to meet the market demand or did not achieve the expected results; the continuous deterioration of the local COVID-19 epidemic affected the company's transportation business; the cost during the period was too high and the performance release was not as expected; the fluctuation of raw material cost affected the company's profitability; the downstream demand for energy storage was lower than expected and the company failed to pass the product verification smoothly; the installation / transformation of the fire control system of the power grid was not as expected.
