The hottest nuclear power sector continues to be a

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On April 12, the wind nuclear power index rose 2.54%, and Dongfang zirconium and Dongfang Electric rose by the limit. In addition, the growth of Jilin Electric Power Co., Ltd., China Guangdong Nuclear Power Technology Co., Ltd. and Taiwan Strait Nuclear Power Co., Ltd. was also significant. Analysts pointed out that as market expectations continue to be clear, after three years of zero approval, the nuclear power industry is expected to usher in a year of recovery. In the nuclear power industry chain, core equipment suppliers will benefit directly

great development potential

on April 10, the Ministry of ecological environment issued the operation license for units 1 and 2 of Taishan nuclear power plant and approved the commissioning outline for units 5 and 6 of Fujian Fuqing nuclear power plant (version a/2)

market participants said that the recent continued activity of the nuclear power sector is directly related to the news stimulus. The strong reaction of the market highlights the broad market space of the nuclear power industry

due to the intermittency and volatility of renewable energy such as wind power and photovoltaic, nuclear energy, as the only stable low-carbon energy that can replace fossil energy on a large scale, plays an important role in energy transformation

according to the report on the development of nuclear energy with emphasis on maintenance of China's testing machines (2019), China's nuclear power generation will play an important role in promoting the production of lightweight new energy vehicles and special parts by 2030, which is expected to surpass the United States and other countries. By 2035, the proportion of power generation will rise from the current 4.22% to 10%. Based on this calculation, industry insiders said that considering that China's domestic manufacturing capacity of nuclear power equipment can fully meet the needs of nuclear power development, it is expected that China's nuclear power installed capacity will reach about 150million kW around 2035, and the proportion of nuclear power in China's clean and low-carbon energy composition will further increase

according to the goal of the medium and long term development plan of China's nuclear power, China needs to start the construction of 30 nuclear power units with a single installed capacity of 1million kW from 2019 to 2020, and the total investment is expected to be as high as 600billion yuan

Wei Xukun, an analyst of Huaxin securities industry, said that nuclear power will become the most ideal power source to replace "coal power" due to its stability, economy, cleanness and environmental protection. In the next five to ten years, China will usher in a golden period of nuclear power investment

pay attention to the leaders in the segmentation field

the recent market shock adjustment, with a wide range of market hotspots, but the sustainability is general. In this context, with the support of fundamental expectations, the performance of the nuclear power sector is relatively outstanding. So, how to grasp the next investment opportunities in the nuclear power sector

Guosen Securities said that the investment of a single nuclear power unit is about 20billion yuan, of which the corresponding equipment investment is about 10billion yuan. According to the annual estimation of a nuclear power unit with polyether ether ketone (PEEK) as a crystalline high-performance special engineering plastic, it is expected that the average annual market size of nuclear power equipment in the future will be billion yuan. It is suggested to pay attention to the leading stocks in the subdivisions of nuclear power main pipeline, nuclear power valve, nuclear power main pump casing and nuclear grade shielding materials

Lu Zhou, an analyst at Dongxing securities, said that the high localization rate of nuclear power equipment is the main feature of China's nuclear industry chain. At present, the localization rate has reached 8, and the inspection and detection capacity of the platform has been enhanced by more than 5%. The main pumps, DCS, important valves and other long-term imported equipment have gradually achieved localization. Nuclear power equipment accounts for about 50% of the total investment, and due to the limitation of nuclear equipment manufacturing qualification, manufacturers with nuclear equipment manufacturing capacity and market performance have a very strong moat, which is manifested in extremely high market share and very high profit margin, and the gross profit margin of primary nuclear equipment manufacturers usually can reach more than 40%

"from the perspective of timing, the bidding of long-term main equipment has been started long before the commencement of the project (FCD), and the benefit timing of the corresponding contractors is the highest, and the order execution can be reflected in the company's performance fastest." Lu Zhou said that after the approval of new nuclear power projects, domestic nuclear power equipment manufacturers have the greatest flexibility and are the first to show their performance. Because the nuclear power business has the characteristics of high barriers and high profit margins, it has a significant effect on manufacturers' profit thickening

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