Currently, industrial control companies are still accelerating the layout of the humanoid robot industry from the perspective of core components, and their products continue to iterate and upgrade. China International Capital Corporation remains bullish on the future development of industrial control companies in the field of humanoid robots.
According to the Zhongjin Securities APP, China International Capital Corporation has released a research report stating that the global energy storage bidding capacity has increased month-on-month, and overseas electricity prices have become more volatile. Overseas energy storage assets fully benefit from high electricity price differentials, and investment profitability is enhanced. The diversified development of new energy storage technologies is expected. The domestic industrial and commercial storage market is facing investment opportunities as the peak-valley price difference expands, fiscal subsidies incentivize, and the construction of light storage and charging and discharging facilities advances. In the European and American markets, the price fluctuation is intensifying due to the increase in the proportion of photovoltaic power generation, stimulating high-demand growth. The World Robot Expo will be held in Beijing from August 21st to August 25th. Compared to previous years, more industrial control companies are participating, demonstrating industry confidence. Industrial control companies mainly focus on products such as hollow cup motors, frameless torque motors, and rotary joints, and their products continue to upgrade.
From August 19th to August 23rd, 2024, the energy storage / new energy vehicles / power grid equipment / industrial control equipment sectors all experienced a decline, with declines of -2.11% / -2.35% / -2.55% / -2.97% respectively.
Energy Storage: The global energy storage bidding capacity has increased month-on-month, and overseas electricity prices have become more volatile. This week, a total of approximately 6,850 MW / 15,456 MWh of global energy storage projects were added, all of which are electrochemical storage, with China and the United States accounting for 8,738 MWh and 1,492 MWh respectively, and on-grid capacity increasing month-on-month. From the intraday electricity prices, the average and maximum peak-valley price differentials in Germany both decreased month-on-month; the average and maximum peak-valley price differentials in California, USA both increased month-on-month; the average and maximum peak-valley price differentials in Texas both increased month-on-month; the average and maximum peak-valley price differentials in the SA region both increased month-on-month; the average and maximum peak-valley price differentials in the NSW region both decreased month-on-month; the average and maximum peak-valley price differentials in the QLD region both decreased month-on-month. China International Capital Corporation is optimistic about the overseas energy storage assets fully benefiting from high electricity price differentials and enhancing investment profitability. It also continues to be bullish on the diversified development of new energy storage technologies. The domestic industrial and commercial storage market faces investment opportunities as the peak-valley price difference expands, fiscal subsidies incentivize, and the construction of light storage and charging and discharging facilities advances. In the European and American markets, the price fluctuation is intensifying due to the increase in the proportion of photovoltaic power generation, stimulating high-demand growth. Recommended by China International Capital Corporation: Contemporary Amperex Technology (300750.SZ), Shenzhen Sinexcel Electric (300693.SZ), Kehua Data Co., Ltd. (002335.SZ).
Industrial Control: Industrial control companies are accelerating the layout of humanoid robots, with Hechuan Technology launching the YOLO-01 humanoid body. From August 21st to August 25th, 2024, the World Robot Expo will be held in Beijing. Compared to previous years, more industrial control companies such as Hechuan, Laisai, and Weichuang are starting to participate, demonstrating industry confidence. Looking at this year, there is a dense presence of manufacturers of humanoid robot bodies, with more than ten companies including Galaxy Universal, Kepler, UBTECH, ZiJie Power, Yushu, and Zhiyuan exhibiting in Hall B. The industry continues to steadily develop. Hechuan Technology has launched the YOLO Yulong 01 humanoid robot body. Industrial control companies mainly focus on products such as hollow cup motors, frameless torque motors, servo drives, and rotary joints, but their products continue to upgrade. Currently, industrial control companies are still accelerating the layout of the humanoid robot industry from the perspective of core components, and their products continue to iterate and upgrade. China International Capital Corporation remains bullish on the future development of industrial control companies in the field of humanoid robots.
Valuation and Recommendations
Maintain the profit forecast, rating, and target price of relevant companies unchanged.
Risk
The macroeconomic downturn, fluctuations in raw material prices, policies falling short of expectations, and downstream demand falling short of expectations.
