Introduction: I have calculated some of the stocks that doubled this year. Among them, the two Haifeng heroes Zhongtian Technology and Hengtong Optoelectronics both doubled their valuations. So is it better to double it? In fact, it depends on the reasons for supporting the stock price. Today, let’s talk about the biggest reason for supporting them. Haifeng’s strongest profit link: , sea cable, .
About individual stock selection? The statement is as follows:
1) According to regulations, specific targets cannot be recommended;
2) My selection criteria are referenced to the content of "Company Business Matching";
3) "Company Business Matching" comes from first-hand research materials of various institutions;
4) The relevant content is introduced at the end of the article.
reiterates that all content comes from public channels (not all public channels can be accessed by everyone). If there are any commercial interests, please contact me to adjust.
Table of contents of this article
1. Ins and outs
2. Understand the submarine cable
3. Industry status
4. Industry prospects
5. Market space
6. Related listed companies
7. Exclusive core tips
1. Ins and outs
It is reported that the 13.6 MW offshore wind turbine independently developed by my country was launched in Fujian Three Gorges Offshore Wind Power International Industrial Park on the 13th. This unit is currently the wind turbine with the largest diameter of impeller and the largest single-unit capacity in the Asia-Pacific region, marking an important breakthrough in my country's large-capacity unit of offshore wind turbine in the R&D and manufacturing capacity of high-end equipment. Research by
Caitong Securities shows that in the wind power industry chain, submarine cable is one of the most profitable links, with gross profit reaching 40%-50%. Benefiting from the continuous advancement of deep sea breeze, the demand for submarine cable links has further increased, mainly reflected in the significant increase in value brought about by the increase in voltage levels and technology.
2. Understand submarine cable
wires and cables are indispensable basic equipment for transmitting electricity, transmitting information, and manufacturing various motors, instruments, and instruments to realize electromagnetic energy conversion. They are an important basic supporting industry in electrified and informatized society. Its products are widely used in various fields such as electricity, energy, construction, transportation, communications, engineering machinery, automobiles, etc. Power cable can be divided into submarine cable and land cable according to application scenarios. Submarine cable is mainly used underwater. In addition to meeting basic electrical properties, it also has higher requirements for water hinder performance and mechanical performance.
3, industry status
1. The threshold for the submarine cable industry is high
Submarine cable enterprises have a high entry threshold, which is reflected in qualification certification, production technology, equipment and terminal investment, cost control, etc.:
Qualification certification threshold: Submarine cable belongs to an important sub-sector of the power cable industry, and must obtain the "National Industrial Product Production License" and pass the product CCC compulsory certification.
Production technical threshold: The environment in which the submarine cable is located is complex, and it is required to have the characteristics of corrosion resistance, tensile and pressure resistance, waterproofing and waterproofing, and has higher requirements in material selection, quality control, laying and installation, operation and maintenance.
Production Equipment Facilities, Terminals and Funding Threshold: The submarine cable product structure is relatively complex, with high requirements for production equipment, and some core production equipment depends on foreign imports, so enterprises need to have strong equipment introduction and production conversion capabilities.
2. The competitive landscape of submarine cables is stable, with high concentration
At present, the competitive landscape of submarine cable market in my country is relatively stable. As the submarine cable bidding for offshore wind power projects in my country is changing to the "manufacturing + laying" whole package model, submarine cable companies with full package capabilities will have more advantages in the winning project process. According to China Business Intelligence Network , Zhongtian Technology (37%), Oriental Cable (33%) and Hengtong Optoelectronics (17%) account for about 90% of the market share; the third-tier submarine cable manufacturers (Wanda submarine cable, solar cable ) are still in the expansion period and have not yet gained a large market share.
4, industry prospects
1. Coastal provinces have added offshore wind power installed capacity in the "14th Five-Year Plan" period. The plan for the installation of offshore wind power in the "14th Five-Year Plan" period is as high as 44GW
According to the current offshore wind power planning statistics that have been clearly defined in coastal provinces, during the "14th Five-Year Plan", Guangdong Province ranked first in the number of new installed capacity. By 2025, it will strive to reach 18 million kilowatts and be the first in the country to achieve parity grid connection; Jiangsu Province has 28 planned sites with a scale of 9.09 million kilowatts and a total planned area of 1444km 2; Zhejiang Province has added more than 4.55 million kilowatts, striving to reach 5 million kilowatts; Shandong Province will reach the installed capacity of wind power in the province by 2025 28 million kilowatts, of which the installed capacity of offshore wind power is strived to reach 8 million kilowatts; in addition, the planned installed capacity of sea breeze in Fujian Province, Guangxi Province and Hainan Province is 4.1, 3, and 3GW; it is expected that Shanghai and Liaoning will add 1GW of installed capacity respectively during the 14th Five-Year Plan period.
, statistics show that the new installed capacity of sea breeze in coastal provinces such as Guangdong, Jiangsu, Zhejiang, and Shandong reached 44.30GW in the 14th Five-Year Plan, with an average annual installed capacity of 8.86GW, a significant increase from the 1.69GW in the 13th Five-Year Plan.
2. Benefiting from the development of offshore wind power, the submarine cable market has grown rapidly
submarine cable products are mainly divided into submarine optical cable , submarine cable and submarine photoelectric composite cable according to their functions; in recent years, benefiting from the large-scale development of offshore wind power, the market size of submarine cables has continued to increase. According to GWEC data, the global installed capacity of offshore wind power increased from 1.50GW to 6.90GW from 2014 to 2020, with an average annual compound growth rate of 28.96%; from 2014 to 2020, my country's installed capacity of offshore wind power increased from 0.23GW to 3.06GW, with an average annual compound growth rate of 53.93%. Submarine cable is an important part of the construction of of offshore wind power project, and undertakes the function of transmitting power to the onshore power grid.
According to 4C Offshore data, the global submarine cable delivery volume increased from 1954km in 2014 to 5836km in 2020, with an average annual compound growth rate of 20.00%; my country's submarine cable delivery volume maintained a faster growth rate, from 158km in 2014 to 2904km in 2020, with an average annual compound growth rate of 62.45%, maintaining a high growth rate.
3. The increase in offshore wind power has further driven the increase in the demand for submarine cable length
Recently, the offshore distance of the wind farm center has been tendered. Currently, there are projects with a total of more than 70km (Dafeng H8-2). Referring to the current offshore distance of Europe (the project is nearly 200km), coupled with the large number of offshore resources in my country have been developed, the offshore distance is expected to continue to grow in the future. Based on the needs of sea breeze projects for parity and the large-scale development of offshore resources, the large-scaleization of individual units and the distant sea project have become a trend, and it is expected to develop towards 66kV AC submarine cable.
5. The market space
sea breeze project is gradually becoming far-sea. The longer the offshore distance, the higher the voltage level, length and production process of the submarine cable, assuming that the cost of submarine cables sent will increase by 0.3 percentage points per year from 2023 to 2025. According to estimates, the scale of arrayed submarine cables in my country increased from 2.343 billion yuan to 8.174 billion yuan from 2022 to 2025, with an average annual compound growth rate of 48.91%; the scale of sent submarine cables increased from 6.713 billion yuan to 27.237 billion yuan, with an average annual compound growth rate of 59.50%; is expected to increase from 2022 to 2025, with an average annual compound growth rate of 56.89%.
6, the exclusive core tip
"Foresight Series", is naturally a bit ahead of the curve. Advantage does not mean that there is no performance, but at least it means that the market has not been fully explored. The most likely thing among them is that individual stock market drives the sector market, so it is more important to grasp individual stocks. At this time, we should pay special attention to the situation of "company business matching", that is, the content in the "Interpretation of core content of high-matching stocks". Only when the correlation is high can we continue to perform.
or above is my own research direction and ideas, which is to share it with you.
. I don’t seek fame or profit, but I hope that all the villagers will like it after reading it. Follow it. It’s better if you can leave a message to express your attitude. Giving someone a rose will leave a fragrance. If there is something that is not ideal, I’ll ask everyone to pat it.
