SINOLINK SECURITIES·2026-03-29 12:24Investment Rating - The report maintains a positive investment outlook on the wind power, energy storage, lithium battery, and photovoltaic sectors, highlighting their potential for long-term growth due to increasing global demand and supportive government policies [2][6][12]. Core Insights - The report emphasizes that the current historical low costs of wind and solar storage will accelerate global energy independence, particularly in response to geopolitical tensions, leading to increased government incentives and orders for related technologies [2][6]. - Major European countries are implementing specific policies to enhance energy independence, which will drive demand for wind power, energy storage, and electric transportation [6][7]. - The report identifies key investment opportunities in wind power, energy storage, lithium batteries, and photovoltaic products, particularly in the context of rising global demand and technological advancements [2][12]. Summary by Relevant Sections Wind Power - The report highlights the strong performance of Goldwind Technology, which reported a revenue of 73 billion yuan for 2025, a year-on-year increase of 28.8%, and a net profit of 2.77 billion yuan, up 49.1% [8][9]. - The report continues to recommend Goldwind Technology and other companies in the wind power sector, noting improvements in profit margins and international business [8][12]. Energy Storage and Lithium Batteries - The lithium battery sector is experiencing price increases driven by supply and demand dynamics, particularly for lithium carbonate and lithium iron phosphate [3][13]. - The report mentions significant projects in lithium battery materials, including a 25,000-ton lithium carbonate project by Zijin Mining, which has entered trial production [13][14]. Photovoltaics - The report discusses the upcoming IPO of SpaceX and its potential impact on the photovoltaic sector, particularly in space and commercial applications [15][16]. - It highlights the increasing demand for BC+ silver-free photovoltaic products, which are expected to see accelerated shipments and profits in 2026 [15][17]. Hydrogen and Fuel Cells - The report notes that the hydrogen sector is adjusting to subsidy expectations, with local policies anticipated to support growth [18][19]. - It emphasizes the economic viability of green methanol and the increasing global demand for green ammonia, particularly in light of recent contracts signed by major companies [19][20]. Electric Grid - The report indicates a 35% year-on-year increase in power equipment exports in January-February, reflecting strong demand for electrical infrastructure upgrades [22][23]. - It highlights the performance of companies like State Grid and their significant contracts in the electric grid sector, indicating robust growth prospects [24][25].