China's electricity consumption will also grow rapidly for a long time, and companies in the industry chain are expected to continue to benefit. We expect that the electricity elasticity coefficient during the “12th Five-Year Plan†period will remain at around 0.95. The high growth in power consumption will inevitably drive high investment in the industry, and the industry related industries will continue to benefit. According to the prediction of CEC, investment in electricity will exceed 10 trillion in the next 10 years.
"Twelfth Five-Year Plan" investment in the power grid industry will be effectively enlarged, with opportunities for smart grids, UHV, and rural power grids. We believe that U.S. pressure on pessimism will fundamentally change. China's power grid conditions will determine the necessity of China's construction of UHV, and related companies will continue to benefit. Smart grid is one of the industries in China that occupy the world's industrial commanding heights, and the country will surely We vigorously promoted, from the perspective of investment in absolute amount of technological breakthroughs and growth in performance, we are optimistic about opportunities for power transformation, distribution, and use of electricity during the “12th Five-Year Plan†period; the lag in the construction of rural power networks has led to a new round of investment in rural power grid transformation. , Amorphous alloy transformers and intelligent ring network cabinets will be the focus of future investment in rural networks.
The turning point for power equipment in the power grid industry is expected to appear at the end of 2011 and be confirmed in early 2012. From November 2010 to November 22, 2012, the overall power equipment industry was 36.93%, while the Shanghai and Shenzhen 300 Index fell only 19.06% over the same period, far from the market; from the perspective of the industry PE, PB and stock price, PB Showing a better correlation, PB is already lower than the level at the end of October 2008, and the probability of the industry going up is even greater; in addition, the grid investment of the two major power grid companies in 2011 will be lower than the initial planning, which means that in the next few years The average annual investment will be higher than the high peak of investment in 2009. Investment as a leading indicator of the power industry will confirm the improvement of the performance of the power equipment industry. With the increase of revenue recognition in the 3rd and 4th quarters at the end of 2011, the performance will show signs of improvement.
Investment strategy: It is recommended to select investment targets from the perspective of “four dimensionsâ€: (1) Enterprises that build strong moats through the national grid platform (2) Absolute capacity in the market where the company is located and relatively high growth potential. (3) The pessimistic expectations of the previous period are sufficient. Changes in the industry's expectations will have a good margin of safety (transmission and transformation) enterprises (4) follow the trend of power equipment power electronics, power electronics business has a large proportion of core competitiveness. At the same time, we believe that "internationalization" and "integration of enterprise development models" and "power electronics" will be the future trend of the development of power equipment.
Investment risk: The deterioration of the macro environment, grid investment is lower than expected, and raw material prices are up-risk.
"Twelfth Five-Year Plan" investment in the power grid industry will be effectively enlarged, with opportunities for smart grids, UHV, and rural power grids. We believe that U.S. pressure on pessimism will fundamentally change. China's power grid conditions will determine the necessity of China's construction of UHV, and related companies will continue to benefit. Smart grid is one of the industries in China that occupy the world's industrial commanding heights, and the country will surely We vigorously promoted, from the perspective of investment in absolute amount of technological breakthroughs and growth in performance, we are optimistic about opportunities for power transformation, distribution, and use of electricity during the “12th Five-Year Plan†period; the lag in the construction of rural power networks has led to a new round of investment in rural power grid transformation. , Amorphous alloy transformers and intelligent ring network cabinets will be the focus of future investment in rural networks.
The turning point for power equipment in the power grid industry is expected to appear at the end of 2011 and be confirmed in early 2012. From November 2010 to November 22, 2012, the overall power equipment industry was 36.93%, while the Shanghai and Shenzhen 300 Index fell only 19.06% over the same period, far from the market; from the perspective of the industry PE, PB and stock price, PB Showing a better correlation, PB is already lower than the level at the end of October 2008, and the probability of the industry going up is even greater; in addition, the grid investment of the two major power grid companies in 2011 will be lower than the initial planning, which means that in the next few years The average annual investment will be higher than the high peak of investment in 2009. Investment as a leading indicator of the power industry will confirm the improvement of the performance of the power equipment industry. With the increase of revenue recognition in the 3rd and 4th quarters at the end of 2011, the performance will show signs of improvement.
Investment strategy: It is recommended to select investment targets from the perspective of “four dimensionsâ€: (1) Enterprises that build strong moats through the national grid platform (2) Absolute capacity in the market where the company is located and relatively high growth potential. (3) The pessimistic expectations of the previous period are sufficient. Changes in the industry's expectations will have a good margin of safety (transmission and transformation) enterprises (4) follow the trend of power equipment power electronics, power electronics business has a large proportion of core competitiveness. At the same time, we believe that "internationalization" and "integration of enterprise development models" and "power electronics" will be the future trend of the development of power equipment.
Investment risk: The deterioration of the macro environment, grid investment is lower than expected, and raw material prices are up-risk.
The handheld addresser is used to program the address of the monitoring module offline. When in use, connect the two output wires of the handheld encoder to the communication bus terminal (terminal label 1, 2) of the monitoring module, turn on the black power switch on the right side upwards, and press "ten Add", [Subtract ten", [Add one place" and [Subtract one place" to program the address.
Motion Sensor Photocell Light Control,Sensor For Motion Control,Exterior Motion Sensor Control,Hollow Shaft Encoder
Changchun Guangxing Sensing Technology Co.LTD , https://www.gx-encoder.com