电力设备：光伏组件价格酝酿上涨，产业链盈利有望回升

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Viewpoints - The report highlights that the recent price increases in photovoltaic components are expected to improve profitability across the industry, driven by rising demand in Europe and domestic market dynamics [4][5] - The report anticipates a surge in installations in China due to accelerated policy support for new energy projects, which is likely to lock in returns for power plants [5] - Integrated component manufacturers are expected to see a rebound in profitability, with specific companies recommended for investment, including Longi Green Energy, JinkoSolar, Trina Solar, JA Solar, and Canadian Solar [6] Summary by Sections Industry Overview - The closing index for the industry is 7144.09, with a 52-week high of 8068.94 and a low of 5403.16 [1] Price Trends - European photovoltaic component prices have increased by over 20% according to recent data, with specific N-type monofacial component prices rising by 12% in January [5] Market Dynamics - The report notes that the demand recovery in Europe is leading to increased imports and higher costs for domestic exports due to reduced tax rebates [5] - The average bidding prices for components have seen significant increases, with recent bids for 22.5GW of components showing prices ranging from 0.696 to 0.839 yuan/W [5] Investment Recommendations - The report suggests focusing on integrated component manufacturers as they are likely to benefit from the improving market conditions [6]