电力行业有望迎来盈利改善和价值重估

Core Viewpoint - The electricity sector is experiencing a strong market performance, with over 20 stocks hitting the daily limit up, driven by multiple favorable factors including policy support and market growth [1][2] Group 1: Market Performance - On November 5, the electricity sector showed robust performance, with the electricity equipment index rising by 3.40% [1] - Key stocks such as Shuangjie Electric, Aters, and Jinguang Electric reached the daily limit up of 20% [1] Group 2: Market Data and Trends - From January to September 2025, the cumulative electricity market transaction volume reached 49,239 billion kilowatt-hours, a year-on-year increase of 7.2% [2] - The share of electricity market transactions in total electricity consumption rose to 63.4%, up by 1.4 percentage points year-on-year [2] - Green electricity transaction volume increased by 40.6% to 2,348 billion kilowatt-hours [2] Group 3: Investment Opportunities - Analysts suggest that the electricity sector is poised for profit improvement and value reassessment due to ongoing reforms and cost improvements [2][3] - The focus on high-voltage and cross-regional transmission investments is expected to drive continued growth in the electricity grid investment [2] - The integration of coal and electricity enterprises is anticipated to enhance profitability, supported by stable coal supply agreements [2][3] Group 4: Sector-Specific Insights - In the wind power sector, both domestic and international demand are expected to drive growth in onshore and offshore wind installations, benefiting component manufacturers [3] - The upcoming years (2025-2026) are projected to see a resonance in wind power demand, leading to improved performance for related companies [3]