Investment Rating - The industry investment rating is "Buy" [1] Core Views - The report highlights the approval of the Dazhong-Tianjin 1000kV UHVAC project by the National Development and Reform Commission, with a total investment of approximately 22.482 billion CNY. The project includes the construction of three substations and a switch station, with a total line length of 2×770.0 km, expected to commence in 2024 [1] - The report anticipates a faster approval process for key projects in 2024, including several UHV projects, and emphasizes the importance of monitoring the bidding situation for main equipment [1] - The report suggests that the bidding activity for UHVAC and UHVDC projects in 2025 is expected to be higher than in 2024, with several projects already progressing quickly [1] Summary by Sections Industry Overview - The report discusses the acceleration of UHV project approvals and the expected increase in bidding activities for UHV equipment in the coming years [1] Key Companies and Financial Analysis - The report provides valuation and financial analysis for key companies in the industry: - Pinggao Electric (Stock Code: 600312.SH) with a current price of 18.84 CNY and a target price of 23.06 CNY, rated "Buy" [2] - XJ Electric (Stock Code: 000400.SZ) with a current price of 30.64 CNY and a target price of 32.20 CNY, rated "Buy" [2] - Siyuan Electric (Stock Code: 002028.SZ) with a current price of 67.55 CNY and a target price of 69.89 CNY, rated "Buy" [2] Investment Recommendations - The report recommends focusing on companies such as Pinggao Electric and Siyuan Electric, as well as XJ Electric, due to their potential in UHVAC and UHVDC projects [1]
电力设备行业跟踪分析：大同-天津南特高压交流核准，24H2特高压招标提速
GF SECURITIES·2024-09-26 03:38