UHV concept on the 9th intraday shock higher, as of press time, Guodian Nanzi, China West Power rose by the limit, Shenma Power rose nearly 8%, Pinggao Electric, Protective Electric, Xuji Electric, Special electrician, Oriental Iron Tower and so on all rose sharply.

In March, State Grid issued the "2020 UHV and inter-provincial 500kV and upper AC / DC project preliminary work plan", which will clearly speed up the annual approval and pre-feasibility study of the 5 AC and 5 DC UHV project. under the promotion of the policy of the State Grid, UHV will start a new construction peak in the next few years.

State Grid publicly said that the investment scale of UHV construction projects for the whole of this year will reach 181.1 billion yuan, which will drive social investment of 360 billion yuan, with an overall scale of nearly 541.1 billion yuan. Mao Weiming, chairman of State Grid, stressed on April 2 that it is necessary to ensure the completion of the "three exchanges and one straight" project within this year, and strive to complete the Shaanxi-Hubei and Yazhong-Jiangxi DC projects next year, and the pace of UHV construction will be significantly accelerated. Wanlian Securities pointed out that the growth of investment will drive the development of the industry, and UHV will usher in the full outbreak of approved volume, construction volume, investment and investment in the next few years, and relevant companies in the industrial chain will fully benefit.

The agency said that the history of UHV is summarized into three cycles. In the first cycle, from 2006 to 2009, the industry developed relatively steadily; in the second cycle, from 2010 to 2013, the approved volume and investment of UHV projects began to increase significantly; in the third cycle, 2014-2017, China's UHV began to enter a period of rapid development, with investment reaching an all-time high of more than 100 billion yuan in 2016. We expect that the stimulation of this round of "new infrastructure" and the strong investment of the two power grid companies will make UHV enter a stronger fourth cycle. At present, the investment scale of 181.1 billion yuan in 2020 has reached an all-time high, and the development of the industry is expected.

Wanlian Securities said that the peak performance of the UHV market is generally six months to one year ahead of the peak of investment, and the UHV investment shows a certain lag. According to the pre-UHV work arrangement for 2020 proposed by the State Grid, the approval of UHV projects this year will be concentrated in the second half of the year, and the outbreak period of UHV investment is expected to occur in 2021. Therefore, 2020 will be an excellent opportunity for the layout of UHV industrial chain.

According to the national network bidding data, the primary equipment investment accounts for 25% of the total UHV investment, accounting for 30% of the UHV total investment, which is the core of UHV investment. Based on this, it is estimated that the investment in UHV primary equipment in 2020 will exceed 45 billion yuan, of which the main equipment with large investment, such as converter, converter valve, AC transformer, GIS combination electrical appliances, etc., its manufacturers will usher in high performance growth, and the relevant leading performance is more certain.

Attach the relevant subject matter:

1. China West Power Company-- the enterprise with the highest coverage in the industrial chain.

At present, China West Electric Power Company is the company with the largest scale and the highest industrial chain coverage in the research, development, manufacturing and testing of complete sets of high-voltage, ultra-high voltage and ultra-high voltage transmission and distribution equipment. The company has achieved full coverage on UHV AC / DC key equipment. In the manufacturing field of converter valves, converters, UHV transformers, combined appliances and reactors, China Western Power has firmly occupied the top four positions in the market share. Therefore, the company's performance has a high degree of certainty.

2. Special transformer electrician-- the absolute leader of UHV transformer

According to the bidding data of State Grid, special transformer electricians have a market share of 43% in 1000kV UHV transformers, firmly occupying the leading position in the field of UHV transformers. As the most important equipment in UHV AC engineering, UHV transformer has a large market space. Therefore, special transformer electricians are expected to benefit more from UHV transformer market by virtue of their own advantages.

3. Pinggao Electric-- GIS combined Electrical Appliance faucet

Pinggao Group, the controlling shareholder of Pinggao Electric, is a wholly owned subsidiary of State Grid. The company is the first high-voltage switch enterprise in the country that has passed the "double high certification" of the Chinese Academy of Sciences and the Ministry of Science and Technology, and the company's GIS combined electrical appliances account for nearly 40% of the market. GIS combined appliances are widely used in UHV AC and DC projects, especially in AC projects, which account for the largest proportion of equipment investment, reaching 34%. As the leading enterprise of GIS, Pinggao Electric is expected to get a large amount of orders during the outbreak of the UHV project.

4. Guodian Nanrui-converter valve faucet

Guodian Nanrui is a holding subsidiary of Nanrui Group. As a subsidiary of State Grid, Guodian Nanrui is mainly engaged in power grid information automation and system development service provider. In the UHV field, Guodian Nanrui firmly occupies about 50% of the market share of converter valve products, is the absolute leader in the industry, through diversified layout, the company's performance stability is high.

5. transformer electricity-- A strong competitor for converters and AC transformers

Baogan Electric is the representative enterprise of domestic power transmission and transformation equipment manufacturers, and its products are exported to more than 50 countries and regions. By inheriting the technology and scientific research achievements of the original Baoding Transformer Factory, the company maintains strong competitiveness in the field of converter and AC transformer.

6. Xu Ji Electric-- leading in converter valve industry

Xu Ji Electric State Grid directly under the industrial unit, the company occupies a large market share in the field of converter valves, in addition, the company ploughs the field of smart grid, the products are widely used in all aspects of the power system.