Recently, a number of smart grid listed companies have disclosed the announcement of winning the bid or large order. For example, Jinguan signed the strategic procurement agreement with the purchase amount of about 250 million yuan, and Hanyuan won the bid of 670 million yuan in the State Grid bidding project. Market analysis shows that the overall recovery of domestic power grid investment and the large purchase orders of listed companies will release capacity and boost performance.
Tianfeng Securities believes that at present, China’s power construction is more focused on distribution and power consumption. In the future, the focus of power investment will be the change of the internal structure of power grid construction investment. The distribution side closer to users, related information equipment and related application research and development facing downstream are expected to become the focus of power grid investment in the next stage.
Previously, the National Energy Administration issued the “action plan for construction and transformation of distribution network (2015-2020)”, which pointed out that the investment in construction and transformation of distribution network should not be less than 2 trillion yuan from 2015 to 2020, and the accumulated investment should not be less than 1.7 trillion yuan during the 13th Five Year Plan period. According to the analysis of Guosheng Securities Research Report, the State Grid and China Southern Power Grid are vigorously promoting the construction of power Internet of things. With the active promotion of relevant work, the construction of ubiquitous power Internet of things will continue, and the scale is expected to continue to expand.
At present, the basic construction of the core skeleton network of the transmission link has been completed, and the relatively weak distribution network will be the key construction direction. From the perspective of the overall investment trend of power grid, the investment in backbone network may slow down in the future, while the investment in distribution network and power grid informatization will accelerate.
According to the latest development strategy of State Grid Corporation of China, “three types and two networks” will be built, including strong smart grid and ubiquitous power Internet of things, and it is proposed to vigorously develop ubiquitous power Internet of things. In 2019, State Grid plans to invest 512.6 billion yuan in power grid, with a year-on-year increase of 4.84%, and the investment in power grid will return to the accelerated growth channel. Recently, a number of listed electrical equipment companies announced that they had won the relevant procurement projects of State Grid Co., Ltd., such as Nanjing nengrei, a wholly-owned subsidiary of Jinguan Co., Ltd., won the bid of 131 million yuan; Hanyuan won the bid for 670 million yuan.
Hancable Co., Ltd. announced at noon on July 23 that the company has won 18 bidding packages for related procurement projects of State Grid Co., Ltd., with an amount of about 670 million yuan, accounting for about 12.03% of the company’s audited operating revenue in 2018. Hanyuan said that after the project won the bid, the performance of the contract will have a positive impact on the company’s business performance in 2019.
In addition to winning the State Grid project, golden crown recently signed a 250 million yuan smart electrical equipment procurement contract. Golden crown announced on the evening of July 21 that the company and Liaoning Kaixin Industrial Technology Engineering Co., Ltd. (hereinafter referred to as “Liaoning Kaixin”) have signed a strategic procurement agreement on intelligent electrical equipment and other products of Liaoning Kaixin based on their willingness to cooperate. The total amount of the agreement is about 250 million yuan and the term of the agreement is two years.
Golden crown shares said that the purchase amount of this agreement accounts for about 20% of the company’s audited operating revenue in 2018. If the agreement is implemented smoothly, it will help the company release production capacity and achieve rapid growth of operating performance. According to the data of the annual report, in 2018, golden crown achieved a revenue of 1.242 billion yuan, including 409 million yuan for power transmission, distribution and control equipment, with a gross profit rate of 31.02%.
In addition, at the end of April this year, the state owned assets supervision and Administration Commission of Henan Province agreed in principle that gudu asset management should acquire 25.60% of the shares of Jinguan to obtain the actual control of Jinguan. The person in charge of gudu asset management said that he fully agreed with the development concept of the management of golden crown in the new energy vehicle industry, and was particularly optimistic about the leading position of the listed companies in the two key parts of new energy vehicles, charging pile and diaphragm.
It is reported that golden crown will cooperate deeply with Luoyang Ancient Capital Asset Management in the new energy industry chain. At the same time, the two sides will cooperate to establish a new energy industry fund with a scale of no less than 1 billion yuan, build a new energy industry park in Luoyang, and provide business incubation services around the new energy industry chain.