Smart grid construction drives electric equipment back into high growth

Recently, the Fukushima Daiichi Nuclear Power Plant Accident Investigation Committee established by the Japanese government announced the mid-term investigation report. The committee believes that because the relevant government departments of Japan and Tokyo Electric Power Co., Ltd., which controls the Fukushima Daiichi NPP, did not anticipate such a serious impact from the tsunami, they also lacked ideological preparations to deal with natural disasters and nuclear power plant accidents. Failure to take appropriate measures resulted in serious accidents.

Affected by the nuclear accident in Fukushima, Japan, the power equipment sector has been weak for the past half year. The nuclear power accidents have come to an end. Can the power equipment sector survive? In this regard, Ping An Securities said that the safety of nuclear power has not been questioned, the gradual release of the bad. The certainty of the long-term development of nuclear power has been further enhanced and the “strongly recommended” rating has been maintained. In the medium to long term, there will be differentiation within the sector, and the real benefit of the company in the transformation of the nuclear power technology route and the transformation of the structure will have investment value.

In addition, the domestic smart grid construction is in full swing, which will surely facilitate the acceleration of smart meter promotion. Smart meter investment is an important component of the distribution chain in the national grid smart grid investment. According to the State Grid Corporation of China's smart grid construction plan, the total amount of intelligent investment from 2011 to 2015 will exceed 280 billion. By 2020, the total amount of intelligent investment will reach 384.1 billion yuan, of which the proportion of distribution will exceed 20%. At present, the smart grid investment is in the early stages of the second stage, and the smart meter market has an optimistic outlook.

Under the double benefit of both inside and outside, it is also reasonable that the power equipment sector is focused on by the market. CITIC Construction Investment indicated that investment in distribution networks and smart substations has a high growth rate. Reviewing the past four years, the growth rate of construction of 110KV and below distribution networks was significantly lower than that of transmission networks of 220KV and above. The construction of distribution networks lags behind, and it has become a key link in the power grid. The compound growth rate of sub-sector investment in the next two years is expected. It will be around 40%. According to the national grid plan, substation intelligence is the focus of the “Twelfth Five-Year Plan” and the future investment growth is deterministic. After completing the pilot work of the smart substation, the intelligent construction of the substation will be fully rolled out.