In 2024, the performance of electrical utilities in the first half of the year showed a generally stable and growing trend, and in the second half of the year, with deliveries entering the peak season, performance elasticity is expected to further improve. According to the data from the National Energy Administration, from January to July, the total investment in power generation projects of major power generation enterprises nationwide reached 415.8 billion yuan, an increase of 2.6% year-on-year; the total investment in grid projects reached 294.7 billion yuan, an increase of 19.2% year-on-year.
In the first half of 2024, the performance of electrical utilities showed a generally stable and growing trend, and in the second half of the year, with deliveries entering the peak season, performance elasticity is expected to further improve. Against the backdrop of the development of the new electrical power system in China, the urgency of upgrading and transforming the distribution networks and rural networks is increasing. Overseas, with the development of new energy, increasing electricity consumption, and the transformation of old power grids, there are multiple demands for grid investment, and the investment cycle in China's overseas market is long, with great potential for Chinese enterprises to increase market penetration.
According to the data from the National Energy Administration, from January to July, the total investment in power generation projects of major power generation enterprises nationwide reached 415.8 billion yuan, an increase of 2.6% year-on-year; the total investment in grid projects reached 294.7 billion yuan, an increase of 19.2% year-on-year. Xu Guangfu of Shengang Securities believes that in the context of building a 'new energy system' and the 'dual carbon goals', non-fossil energy generation will gradually become the main body of installed capacity and electricity generation. The instability, randomness, and volatility of wind power and photovoltaic power generation will inevitably require coordinated operation of energy storage systems to ensure the safe and stable operation of the power system. The construction of energy storage systems and the upgrading of the grid system are expected to remain highly prosperous.
According to the Financial Data Center, among related listed companies:
Eaglerise Electric & Electronic's current main products include photovoltaic boost transformers, high-frequency inductors, industrial control transformers, distribution transformers, and lighting driver power supplies.
Yangdong Technology's main products are energy-saving transformers for grid distribution and transformers for new energy substations. As of now, in the first half of 2024, the company has won bids totaling over 96 million yuan in the State Grid's tender, and the company's current orders are in a saturated state.