新能源行業(yè)2019年度策略春風(fēng)又綠江南岸，明月何時(shí)照我還

1、目錄1風(fēng)電：轉(zhuǎn)暖方向明確，靜待行業(yè)盈利改善風(fēng)電：轉(zhuǎn)暖方向明確，靜待行業(yè)盈利改善.....................................................................................................................................................................................

2、.....................................................................................................51.11.1我國(guó)風(fēng)電裝機(jī)量連續(xù)兩年下滑我國(guó)風(fēng)電裝機(jī)量連續(xù)兩年下滑......................................................................................

3、............................................................................................................................................................................................................................

4、............51.21.2陸上風(fēng)電轉(zhuǎn)暖比較明確陸上風(fēng)電轉(zhuǎn)暖比較明確.....................................................................................................................................................................................

5、.....................................................................................................................................................................61.31.3海上風(fēng)電帶來(lái)新增量海上風(fēng)電帶來(lái)新增量..............................

6、............................................................................................................................................................................................................................

7、....................................................................................................101.41.4行業(yè)企業(yè)毛利率將有所改善行業(yè)企業(yè)毛利率將有所改善........................................................................................

8、............................................................................................................................................................................................................................

9、................101.51.5投資建議投資建議............................................................................................................................................................................................

10、................................................................................................................................................................................................................112光伏：政策吹暖風(fēng)，

11、平價(jià)時(shí)代加快到來(lái)光伏：政策吹暖風(fēng)，平價(jià)時(shí)代加快到來(lái)...................................................................................................................................................................................................

12、.............................................................................................112.12.1“531”“531”之后，產(chǎn)業(yè)制造環(huán)節(jié)價(jià)格雪崩，企業(yè)業(yè)績(jī)壓力驟增之后，產(chǎn)業(yè)制造環(huán)節(jié)價(jià)格雪崩，企業(yè)業(yè)績(jī)壓力驟增.................................................................

13、.......................................................................................................................................112.22.2中央關(guān)注光伏民營(yíng)企業(yè)，中央關(guān)注光伏民營(yíng)企業(yè)，“531531”一刀切環(huán)境或?qū)⒏纳埔坏肚协h(huán)境或?qū)⒏纳?............................

14、...............................................................................................................................................................................................132.32.3光伏行業(yè)發(fā)展以整合為主，關(guān)注龍頭光伏行業(yè)發(fā)

15、展以整合為主，關(guān)注龍頭.................................................................................................................................................................................................................

16、.............................................................................152.42.4從技術(shù)革命的角度來(lái)看投資機(jī)會(huì)從技術(shù)革命的角度來(lái)看投資機(jī)會(huì)...........................................................................................................

17、.......................................................................................................................................................................................................182.52.5投資建議投資建議.....

18、............................................................................................................................................................................................................................

19、...........................................................................................................................................................................193動(dòng)力電池：以量補(bǔ)價(jià)邏輯下的增長(zhǎng)動(dòng)力電池：以量補(bǔ)價(jià)邏輯下的增長(zhǎng)................

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21、......................................................................193.13.1動(dòng)力電池毛利率仍將承壓動(dòng)力電池毛利率仍將承壓........................................................................................................................

22、....................................................................................................................................................................................................................193.23.2

23、乘用車(chē)系拉動(dòng)增長(zhǎng)主力乘用車(chē)系拉動(dòng)增長(zhǎng)主力主打乘用車(chē)動(dòng)力電池獲成長(zhǎng)機(jī)會(huì)主打乘用車(chē)動(dòng)力電池獲成長(zhǎng)機(jī)會(huì)............................................................................................................................................................................

24、................................203.33.3投資建議投資建議............................................................................................................................................................................

25、............................................................................................................................................................................................................................

26、....244高壓設(shè)備：政策激活電網(wǎng)建設(shè)新動(dòng)力高壓設(shè)備：政策激活電網(wǎng)建設(shè)新動(dòng)力.....................................................................................................................................................................................

27、...................................................................................................................254.14.1特高壓有望開(kāi)啟新一特高壓有望開(kāi)啟新一輪核準(zhǔn)潮核準(zhǔn)潮........................................................................

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29、......................254.24.2投資建議投資建議......................................................................................................................................................................................

30、......................................................................................................................................................................................................................30圖表圖表

31、4242特高壓直流換電站投資結(jié)構(gòu)特高壓直流換電站投資結(jié)構(gòu)................................................................................................................................................................................................

32、................................................................................................................................28圖表圖表43431414條線路帶來(lái)的設(shè)備投資量條線路帶來(lái)的設(shè)備投資量........................................................

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34、............................................29圖表圖表4444特高壓直流換流閥市場(chǎng)份額特高壓直流換流閥市場(chǎng)份額..............................................................................................................................................

35、..................................................................................................................................................................................29圖表圖表4545直流控制保護(hù)系統(tǒng)市場(chǎng)份額直流控制保護(hù)系統(tǒng)市場(chǎng)份額........

36、............................................................................................................................................................................................................................

37、............................................................................................29圖表圖表4646換流變市場(chǎng)份額換流變市場(chǎng)份額........................................................................................................

38、............................................................................................................................................................................................................................

39、..........................................29圖表圖表4747特高壓交流特高壓交流GISGIS市場(chǎng)份額市場(chǎng)份額................................................................................................................................................

40、........................................................................................................................................................................................29圖表圖表4848特高壓交流變壓器市場(chǎng)特高壓交流變壓器市場(chǎng)......

41、............................................................................................................................................................................................................................

42、................................................................................................................29圖表圖表4949特高壓交流電抗器市場(chǎng)特高壓交流電抗器市場(chǎng)..............................................................................

43、............................................................................................................................................................................................................................