生物质能概念投资逻辑和核心龙头

Core Viewpoint - European Sustainable Aviation Fuel (SAF) prices are experiencing a significant increase, rising from $1780/ton at the beginning of the year to $2860/ton, marking a historical high, which has led to a surge in biomass energy concept stocks [2] Investment Logic - Dual support from policies and strategies: Biomass energy is the only renewable energy that can contribute in solid, liquid, and gas forms, achieving multiple goals of "energy substitution, agricultural efficiency, and environmental governance." Its strategic importance has been incorporated into national "dual carbon" goals and core agendas such as rural revitalization and energy transition [2] - Market scale and growth potential: The biomass energy industry is in a rapid growth phase, with market size and penetration continuously increasing. The global biomass energy market is expected to reach 1.1 trillion yuan by 2025 and exceed 1.6 trillion yuan by 2032, with a CAGR of approximately 5.4%. In China, the biomass energy market is projected to reach 257.8 billion yuan by 2025 and exceed 800 billion yuan by 2032, with a CAGR of about 16%, significantly higher than the global average [2] - Technological iteration, cost reduction, and efficiency improvement: Technological advancements are the core driving force for the biomass energy industry to shift from "policy dependence" to "market-oriented operation," with several breakthroughs since 2025 significantly enhancing industry efficiency and economic viability [2] Biomass Energy Concept Core Leading Stocks - In the A-share market, leading companies in the biomass energy concept are primarily concentrated in the fields of biodiesel, biomass power generation, and biomass energy heating [3] - Biodiesel / Sustainable Aviation Fuel (SAF): This sector is currently the most focused area in the market, especially with the continuous rise in European SAF prices, leading to active performance from related companies [3] Biomass Energy Heating - Potential risks are acknowledged but not detailed in this summary [4] Biomass Power Generation - Changqing Group (002616) is recognized as one of the leading enterprises in the biomass power generation concept [6]