电力设备行业周报：能源安全重估催生新能源、储能与电网战略机遇，宇树科技IPO受理提升人形机器人关注度

Investment Rating - The report maintains a "Recommended" rating for the electric power equipment sector [6]. Core Viewpoints - The escalation of the Iranian situation has evolved from traditional geopolitical conflicts into a systemic shock to the global energy supply system, significantly reinforcing energy security logic as a medium- to long-term pricing theme. Since February 28, 2026, military actions by the US and Israel against Iran have led to significant disruptions in the Strait of Hormuz, causing a decrease in Middle Eastern oil exports by approximately 60% and a median global daily oil supply-demand gap of about 9 million barrels, accounting for 9.3% of global consumption. Brent crude oil prices have surged past $100, increasing by 50% over 20 days, demonstrating a "supply contraction - price non-linear amplification - inflation spillover" impact path [4][14][15]. - The core impact of this conflict is the significant reassessment of the "security attributes" of the global energy system, reshaping energy allocation models and macro transmission paths. Countries are shifting policies towards "self-sufficiency + diversified alternatives," benefiting three main directions in the A-share market: an upward shift in new energy installation demand, enhanced strategic positioning and profitability of energy storage, and an accelerated investment cycle in power grid and equipment [5][16]. - The IPO acceptance of Yushu Technology, which aims to raise 4.202 billion yuan, marks a transition for humanoid robots from a "technology validation period" to a "capital acceleration period," likely enhancing industry chain attention and prosperity [5][17]. Summary by Sections Investment Viewpoints - The report expresses optimism about the Chinese wind power industry chain, highlighting its cost and delivery advantages, and suggests focusing on companies such as Dajin Heavy Industry, Tiensun Wind Energy, Goldwind Technology, Zhongji United, and Zhenjiang Co., Ltd. [6][18]. Industry Dynamics - The report notes that the electric power equipment sector has experienced a decline of 3.06% recently, ranking 10th among sectors [11]. - The report tracks the photovoltaic industry, indicating a 9.9% growth in solar power generation in January-February 2026, although the growth rate has slowed [20]. - The report highlights the issuance of 198 million green certificates by the National Energy Administration in February 2026, covering 610,200 renewable energy projects [21]. Key Companies and Profit Forecasts - The report provides profit forecasts for key companies, including: - Goldwind Technology (002202.SZ): EPS of 0.44 in 2024, 0.64 in 2025E, 0.78 in 2026E, with a PE of 66.36, 45.63, and 37.44 respectively, rated as "Buy" [19]. - Dajin Heavy Industry (002487.SZ): EPS of 0.74 in 2024, 1.36 in 2025E, 1.96 in 2026E, with a PE of 98.30, 53.49, and 37.11 respectively, rated as "Buy" [19]. - Zhenjiang Co., Ltd. (603507.SH): EPS of 0.97 in 2024, 0.88 in 2025E, 1.73 in 2026E, with a PE of 24.86, 43.37, and 21.92 respectively, rated as "Buy" [19].