消息方面，国家能源局今日发布1-8月份全国电力工业统计数据。截至8月底，全国累计发电装机容量约31.3亿千瓦，同比增长14%。其中，太阳能发电装机容量约7.5亿千瓦，同比增长48.8%；风电装机容量约4.7亿千瓦，同比增长19.9%。① In the first 8 months of 2024, which type of energy equipment has achieved significant growth in installed capacity? ② For listed companies in the electric power industry, what are the expectations of investment institutions for future market performance?
China Securities News, September 23 (Editor: Hu Jiarong) Benefiting from the positive news in early trading today, Hong Kong power stocks performed well. As of the time of publication, Sinolink Electric Power (01071.HK), CGN Power (01816.HK), CGN New Energy (01811.HK), and China Resources Power (00836.HK) have risen by 5.64%, 5.24%, 5%, and 4.69% respectively.
Note: Performance of Hong Kong power stocks
In terms of news, the National Energy Administration released the national electricity industry statistics for January to August today. As of the end of August, the cumulative installed capacity of power generation in the country was about 3.13 billion kilowatts, a year-on-year increase of 14%. Among them, the installed capacity of solar power generation was about 0.75 billion kilowatts, a year-on-year increase of 48.8%; the installed capacity of wind power was about 0.47 billion kilowatts, a year-on-year increase of 19.9%.
Note: Overview of national electricity industry statistics (as of August 2024)
From January to August, the average utilization of power generation equipment in the country was 2328 hours, a decrease of 103 hours compared to the same period last year. Major power generation companies in the country completed investments of 497.6 billion yuan in power projects, a year-on-year increase of 5.1%. Investments in grid projects reached 333 billion yuan, a year-on-year increase of 23.1%.
Institutions said that the high prosperity of the power grid is accelerating its realization.
Sinolink Securities predicts in its fourth-quarter outlook that orders for power transformers, high-voltage switches, and smart meters in overseas markets will enter a concentrated delivery period in 2023.
The research report from this institution indicates that the export value of inverters in China in August was 6.16 billion RMB, a year-on-year increase of 24.2% and a month-on-month increase of 10.0%, which strengthens the market's expectation for a recovery in the export of inverters in the third quarter.
Looking at different provinces, the export value of inverters in Zhejiang province reached 1.9 billion RMB, a year-on-year increase of 165% and a month-on-month increase of 19%; the export value in Guangdong province was 2.1 billion RMB, a year-on-year increase of 4% and a month-on-month decrease of 6%; the export value in Anhui province was 1.02 billion RMB, a year-on-year decrease of 9% and a month-on-month increase of 56%; the export value in Jiangsu province was 0.63 billion RMB, a year-on-year increase of 15% and a month-on-month increase of 23%.
Sinolink Securities also mentioned that the mid-year performance of several key companies met or exceeded market expectations, easing concerns over second-quarter performance. Looking ahead in the coming months, it is expected that offshore products such as electrical transformers, high-voltage switches, and smart meters will be delivered in bulk in the third and fourth quarters. In the domestic market, it is projected that there will be a large number of tenders for ultra high pressure and power transmission projects, and that direct current projects will continue to be delivered. The demand for grid connection outside of China is also expected to improve. The institution reaffirmed the potential for exceeding expectations in domestic and international markets.
