Weekly report of electric equipment and new energy industry: new energy vehicle subsidy policy or setting transition period
ew energy vehicles: capacity utilization rate remains high. According to Tramway, the subsidy rebate policy in 2019 will set a transition period. During the transition period, the subsidy will be adjusted proportionally. After the transition period, the new subsidy standard will be implemented. On the whole, the subsidy rebate will be about 40% in 2019, and the subsidy threshold will continue to increase; Some auto companies have begun to rush at the end of the year. In addition, we have investigated some companies in the power battery industry chain. On the whole, (1) since the fourth quarter, the capacity utilization rate of the industry chain has maintained a high level. Since the third quarter of last year, the industry production scheduling has increased significantly and formed inventory. November is the inventory digestion period, but this year the industry is relatively rational, and the production scheduling shows a trend of increasing month by month; (2) The concentration of various segments has been continuously concentrated. This year, the low-end production capacity of the industry has been gradually cleared, and the market share of leading enterprises has been increasing. Compared with other industries, the growth of the new energy automobile industry chain is relatively certain, and the production scheduling in the fourth quarter has been rising, and the allocation value has emerged.
Photovoltaic wind power: policy uncertainty remains, and the proportion of overseas exports has increased. On November 22, Wang Bohua, the secretary general of CPIA, announced the operation of China's photovoltaic industry from January to October at the annual conference of China's photovoltaic industry. Affected by the "531" new policy, it is estimated that the total installed capacity in China will increase by 36GW, with a year-on-year decline of more than 20%; The weakening of domestic demand combined with the growth of overseas markets, and the value and proportion of component exports rebounded from January to October. In terms of wind power, the price of steel has declined steadily, which is expected to drive the gross profit rate of equipment manufacturers to rise. Since the beginning of 2018, the steel price has maintained an upward range and entered the fourth quarter. The production restriction in the heating season is less than expected and the supply contraction is less than the same period last year. The steel price is expected to enter the downward range, driving the gross profit rate of midstream equipment enterprises to rise.