Anxin International released a research report saying that the Hong Kong nuclear power sector rose 0.80% last week. Furthermore, the overall operation of domestic nuclear power units was stable last week, with no new installed capacity. Last week, international natural uranium prices maintained their upward trend and broke through the $90/lb high. It is expected that in the future, as the development of the nuclear power industry accelerates, supply and demand for natural uranium will intensify, and natural uranium ore prices will remain high, which will benefit the future performance of related industry companies. Investors are recommended to continue to pay attention to the natural uranium ore trader CGN Mining (01164) and the nuclear power operator CGN Power (01816).
▍ The main views of Anxin International are as follows:
PV industry chain: The Hong Kong PV industry chain sector rose 0.48% last week.
Towards the end of the year, large-scale overseas and domestic projects are gradually coming to an end, and component-side prices continue to fall. The trend of oversupply in the industrial chain is difficult to reverse in the short term. Prices in all links of the industrial chain are declining slightly, and there are still expectations of future declines. The industrial chain is currently affected by the relationship between supply and demand, so we can focus on investment opportunities first.
New energy power plant operation: The electricity operating sector of the Hong Kong stock market rose 1.52% last week.
There were many early adjustments in the thermal power sector, coal prices were stable, and the policy-side coal-power capacity electricity price policy was implemented. At the same time, looking at this year, due to factors such as falling costs, the thermal power sector's performance for the 3rd quarter is still impressive, so we can pay attention to investment opportunities. New energy power operators, announced wind power generation companies in November. Power generation capacity has generally rebounded, and national policies support energy clean-up. It is recommended to pay attention to Longyuan Electric Power (00916).
New energy materials: Hong Kong NEVs fell -2.38% last week, while US NEVs rose 4.67%.
The price of lithium continued to drop last week. Currently, the price of lithium carbonate is 103,000 yuan/ton, and the price of lithium hydroxide is 93,000 yuan/ton. The downstream has entered a low season, lithium prices continue to decline, and the overall industry is weak.
Gas: Hong Kong shares in the gas sector fell -0.72% last week.
National natural gas consumption In October, the country's apparent natural gas consumption was 31.92 billion cubic meters, an increase of 4.5% over the previous year. From January to October, the country's apparent consumption of natural gas was 321.71 billion cubic meters, an increase of 7.1% over the previous year. It is recommended to focus on Kunlun Energy (00135), which has a steady performance.
Wind power equipment: The Hong Kong stock wind power sector rose 0.74% last week.
Last week, a total of 2126.25 megawatts of wind power procurement was opened; the total bid capacity of wind turbines was 2,000 megawatts. The winning bid price for the onshore wind turbine project was 1950 yuan/kW to 2,365 yuan/kW; the winning bid price for the project without a tower was 1,288 yuan/kW to 1,628 yuan/kW; the offshore wind turbine project with a tower cylinder did not open the bid. The companies that won the fan order were Mingyang Intelligence, Dongfang Wind Power, Yunda Co., Ltd., Envision Energy, Goldwind Technology, CRRC Zhuzhou, and Shanghai Electric, a total of 7 companies.
Nuclear power sector: Hong Kong's nuclear power sector rose 0.80% last week.
Furthermore, the overall operation of domestic nuclear power units was stable last week, with no new installed capacity. Last week, international natural uranium prices maintained their upward trend and broke through the $90/lb high. It is expected that in the future, as the development of the nuclear power industry accelerates, supply and demand for natural uranium will intensify, and natural uranium ore prices will remain high, which will benefit the future performance of related industry companies.
Risk warning:
New energy installations fell short of expectations; repeated epidemics, commodity prices rose, logistics costs rose, and upstream and downstream production capacity in the industrial chain did not match.