On March 6, the National Energy Administration revealed at an online press conference in the first quarter of 2020 that in 2019, China's cumulative installed wind power exceeded 200 million kilowatts. At present, the wind power industry is entering a rapid growth period, and the industry has a good momentum of development. The midstream machine companies are in short supply, and they are transmitted to the upstream parts and components sector, showing an unbalanced trend of limited supply and a surge in demand. Tianshun Wind Energy will benefit first.
According to data released by the National Energy Administration, in 2019, the country's wind power installed capacity will increase by 25.74 million kilowatts, of which 23.76 million kilowatts will be added to onshore wind power and 1.98 million kilowatts will be added to offshore wind power. By the end of 2019, the cumulative installed capacity of wind power nationwide was 210 million kilowatts, of which cumulative cumulative installed capacity of onshore wind power was 204 million kilowatts and cumulative installed capacity of offshore wind power was 59.30 million kilowatts. From the perspective of regional distribution, the central and eastern regions and the southern regions account for 30%, and the "three norths" regions account for 70%.
According to research institutions, new domestic wind power installations will still be able to maintain growth in 2019 and 2020, and this is mainly due to the fact that under the bid allocation situation, developers need to complete the relatively good approved installation resources as soon as possible; On the other hand, with the continuous improvement of power restriction, the ban in the northern region is gradually lifted, which will also open up space for wind power installations. At the same time, offshore wind power installations and decentralized wind power installations will contribute significantly to wind power.
Beginning in 2018, China has become one of the countries with the most significant increase in global wind power installed capacity. Since 2019, China's wind power industry has a good momentum of development, and midstream machine companies are in short supply. Important parts in the upstream field include gearboxes, generators, bearings, blades, and hubs. Customized purchasing for professional manufacturing companies. However, due to the heavy assets, strong capacity constraints, and environmental protection constraints, the supply of important components in the upstream sector is limited, while downstream rush installations have caused a surge in demand. The dual impact of supply and demand has caused the price of wind power components to rise, and wind turbines Leading component companies such as Shenli and Tianshun Wind Energy will benefit first.
CZSL is a professional motor parts production and service provider, mainly engaged in the research and development, production and sales of motor stators, rotor punches and cores. The various types of motors produced by it can be applied to diesel generators, wind turbines, medium and high voltage motors, etc., and they are mostly used for infrastructure construction such as wind power, diesel power and rail transit.
It is understood that, in view of the core position of the stator and rotor in the construction of the motor, the motor manufacturer in the process of selecting suppliers has set strict standards on the production scale, product quality, synchronous technology research and development, and subsequent support services of potential suppliers. Filter criteria. In addition, component suppliers must perform strict qualification certification procedures before they officially enter the global procurement system of motor host manufacturers. This process often takes a long time for both parties to cooperate, so once the two parties establish a supply relationship, their cooperation relationship will Stay relatively stable.
According to the data, CZSL shares have a high market awareness in the motor parts market, and it has a strong reputation with Cummins, Shanghai Mitsubishi, Kohler, Vestas, ABB, Siemens, General Electric, Gamesa, Bombardier, Toshiba Mitsubishi, Lilaisenma and Midea Audi and other leading domestic and foreign motor manufacturing companies have established stable cooperative relations.
In addition to the increase in demand and price in the domestic market, the overseas market of CZSL shares also ushered in rapid growth. According to the analysis of Ping An Securities Research Report, recently, Vestas and Siemens- Gamesa released the financial report. In 2019, Vestas added an onshore fan order of 17.88GW, a year-on-year increase of 25.8%, and continued to reach a record high; Siemens-Game飒 New wind turbine orders were about 12.9GW, a year-on-year increase of 19.5%. Based on the new orders in 2019, it can be predicted that the shipments of overseas leading wind turbine companies are expected to grow rapidly in 2020; domestic wind turbine towers, castings, spindles and other parts and components have a larger overseas business and will obviously benefit from Faster growth in overseas demand.
According to the regulations of the Development and Reform Commission, the newly approved land-wind projects from 2021 will fully achieve parity on-line access, thus driving the surge in projects approved before the end of 2018, and the full recovery of wind power investment in 2019, which will lead to a substantial improvement in the performance of wind power companies. Tianshun Wind Energy released the 2019 performance report on February 28. During the reporting period, the company achieved operating income of 6.052 billion, a year-on-year increase of 57.86%; realized net profit attributable to its parent of 753 million, a year-on-year increase of 60.31%. It is understood that in order to meet the domestic onshore wind level price demand in 2020, Tianshun Wind Energy is actively preparing for offshore and onshore parity wind power tower production bases. Currently it plans to invest 600 million yuan in Shangdu County, Wulanchabu to build 120,000 tons of land Wind power tower base. Huachuang Securities believes that with the successive completion of these production capacities, the company's production capacity is expected to reach 1.13 million tons per year, consolidating the first position in the global wind power tower production capacity.
Guohai Securities believes that the rush to install in 2020 will continue, sprinting towards full parity in 2021. After the installation, global demand is stable. According to the forecast of the Global Wind Energy Council in "GLOBAL WIND REPORT2018", it is estimated that the new installed capacity of the global wind power market will exceed 300GW in the next 5 years. From 2019 to 2023, there will be an average of more than 60GW of new installed capacity each year, and new installations will remain at a high level worldwide.