Electrical equipment: waiting for the good period, the post-nuclear power restart performance spring tide
Event: the 13th five-year plan of power development, the time of the nuclear power enterprises' performance is becoming clear
Investment points: nuclear power is the necessary option to ensure clean energy supply and realize industrial upgrading. The electric power development "much starker choices-and graver consequences-in planning" electricity demand in 2020 is expected to add 1.6 trillion KWH, under the background of preferred balance clean energy power supply, nuclear power, with its stable and efficient features such as electric power development shall be options. The development of advanced nuclear power equipment has become the main task of China's manufacturing upgrading in the grand plan of China's 2025 - energy equipment implementation plan.
Stable and stable market space. The technological development path of nuclear power in China is clear, and three generations of pressure-water reactors such as AP1000, CAP1400 and hualong 1 are the mainstream of current and future. The future plan of nuclear power in China is clear. By 2020, China's nuclear power generation capacity will reach 58 million kilowatts, and it will build up to 30 million kilowatts and build 6-8 units during the 13th five-year period.
The timing of the release is clear. Nuclear power equipment from tender to delivery interval of about 42 months. The plant, which was built around 2010, fell short of expectations due to the fukushima accident and the delay in delivery of the main pump. With the 2016 AP1000 main pump complete delivery success, try, try, cold prophase construction plans for slowing or accelerating, together with the tender plants in recent years in 2018 for delivery of the machine, before and after complete results confirm the relevant enterprises.
The nuclear power industry chain benefits. The localization rate of nuclear power plants has been improved, and domestic equipment suppliers have benefited from the wave of nuclear power construction. The nuclear island part: the core equipment providers, such as dongfang electric, Shanghai electric, Harbin electric group, and China, are expected to be able to obtain large orders for nuclear island equipment. Ci: focus on, across the Taiwan strait with main 50% share of nuclear power (002366), 90% of the butterfly valve markets in jiangsu avatar (002438), focused on the steam generator tube made of long U litas material (002318). (he Chen, fortune securities; Yang Fu)