电新&公用行业周报：帆石一海风项目推进，气象数据赋能低空经济发展

Investment Rating - The report maintains a "Recommended" investment rating for the industry [1] Core Insights - The report highlights the ongoing development of the Fancheng Yuhai Wind Project and the empowerment of low-altitude economic development through meteorological data [1] - The photovoltaic industry is expected to see price rationalization due to policy adjustments and supply-demand improvements, following the central economic work conference's emphasis on curbing "involution" competition [1][28] - The wind power sector is witnessing accelerated project progress, with the recent announcement of successful bids for submarine cable projects related to the Yangjiang Fancheng Yuhai offshore wind project [1][30] - The report indicates a robust outlook for the power equipment sector, driven by domestic investment growth and high overseas demand [1][28] Summary by Sections 1. Market Review - From December 9 to December 15, 2024, the Shenwan Electric New Energy sector declined by 2.15%, ranking 30th among 31 industries, while the Public Utilities sector fell by 0.15%, ranking 17th [14][1] - The Shanghai Composite Index decreased by 1.01% during the same period [14] 2. Key Industry Dynamics 2.1 Industry News - The central economic work conference emphasized the need for technological innovation and the establishment of a modern industrial system, aiming to regulate local government and enterprise behaviors [28] - The Yangjiang Fancheng Yuhai offshore wind project has announced successful bids for submarine cable projects, with total bid amounts of approximately 9.1 billion yuan and 8.0 billion yuan [30] - The National Energy Administration plans to approve the construction of key power interconnection projects by 2025, enhancing the energy transmission network [30] 2.2 Company Announcements - Xiwanda signed a strategic cooperation framework agreement with Xiamen Tungsten New Energy to develop solid-state battery materials [34] - Guoxuan High-Tech plans to invest in new energy battery production bases in Slovakia and Morocco, with total investments not exceeding 12.34 billion euros and 12.8 billion euros, respectively [34] 3. Industry Tracking - The report tracks the price trends of various components in the photovoltaic industry, indicating fluctuations in material costs [9] - It also monitors the installation and bidding activities in the wind power sector, highlighting the growth in installed capacity [9] 4. Investment Recommendations - The report suggests focusing on leading companies in the photovoltaic sector such as Tongwei Co., Longi Green Energy, Trina Solar, and JinkoSolar, as well as strong inverter manufacturers like Sungrow Power Supply and DeYe Shares [3] - In the wind power sector, it recommends companies like Dajin Heavy Industry and Oriental Cable [3]