The profitability of the hottest enterprises botto

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Corporate profitability bottomed out and the wind power industry ushered in the second spring

facing the expanding and prolonged haze weather, the awareness of environmental protection has become more and more popular. As a new clean energy, wind power has ushered in the second spring of development. The continuous expansion and extension of the haze weather has made the awareness of environmental protection more and more popular, and the importance of clean energy has become more and more relevant to the body and mind. After more than two years of painstaking adjustment after falling into a trough, the wind power industry has ushered in the second spring of development by shutting down backward excess capacity and solving the dilemma of Shangping

recently, Ping An Securities released a research report that it continues to be optimistic about the wind power industry in 2014. This is due to the improved profits of wind farms, the expectation that the wind power tariff may be adjusted, and after more than two years of industry integration, the competition pattern of the upstream complete machine and spare parts industry has been reshaped, and the profitability of enterprises will rebound

as a new clean energy, the development of wind power all over the world has to rely on government subsidies and policy support. The overall recovery of the wind power industry this time also lies in the alleviation of the merger policy, wind abandonment and other problems that have plagued the industry for many years

not long ago, the National Energy Administration issued the guiding opinions on energy work in 2014, which put forward the goal of orderly development of wind power in 2014 and realizing the new installed capacity of 18million kW, and gave dual policy support, which is regarded as the policy guarantee for the continuous recovery of the wind power industry. After the low tide from 2011 to 2012, wind power is expected to usher in a stable growth period

from the perspective of wind power enterprises, the performance improvement has been apparent since the second half of 2013. Longyuan Power, the largest wind power generation enterprise in China, also reversed its power generation benefits in the first three quarters of 2013. After entering 2014, the situation has improved, and it is expected that the performance of listed wind power enterprises will be further improved

performance improvement of wind power enterprises

first, in 2013, the Ministry of Finance advanced the wind power price difference subsidy from the renewable energy fund, which shortened the time from the sale of wind power to the receipt of the subsidy, so that the heavily invested wind farms shortened the time of pure investment in the early stage and reduced the business risk. Secondly, with the passage of time, the cost advantage of wind power begins to appear, and the rise of renewable energy price addition also makes the cost advantage of wind power more apparent. Some insiders said that the price found by the market has freed the wind power industry from its fate

in August, 2013, the national development and Reform Commission issued the renewable energy and environmental protection electricity price policy, which strongly supports the development of new energy. The additional standard of renewable energy electricity price for wind power was increased from 0.8 points/kWh to 1.5 points/kWh. Nearly half of the subsidies also provide a certain space for the increase of wind power installed capacity. Thirdly, the mitigation of wind abandonment is also an important reason for the improvement of the performance of wind power enterprises. The problem of wind abandonment has always been a curse that plagues the development of the wind power industry. Due to the rapid development in previous years, the supporting construction such as energy consumption and standard consolidation failed to keep up. After the construction of a large number of wind farms, they could not maintain high-cost operation due to the lack of transmission and consumption capacity, resulting in serious wind abandonment

data show that in 2011, China's waste air volume was 12.3 billion degrees, and in 2012, the figure reached about 20billion degrees. ④ the internal friction damping of rubber springs is much larger than that of metal springs. However, this situation has been significantly improved in 2013, which also makes the pull effect as the downstream demand side of wind power begin to appear

according to the wind power industry data released by the National Energy Administration in February 2014, in 2013, the national wind power was 16.231 billion kwh, and the utilization hours of wind power reached 2074 hours, an increase of 184 hours year-on-year; The average wind rejection rate is 11%, which is 6% lower than that in 2012

shipengfei, vice president of China Wind Energy Association, said that in 2013, the mitigation of wind power curtailment was mainly the result of the government's policy of paying attention to coordinating wind power, power and thermal power enterprises and other stakeholders, accelerating the construction of power transmission channels, requiring thermal power to deeply regulate peak load and encouraging wind power to conduct heating pilot projects. With the improvement of wind power efficiency and the reversal of the performance of relevant enterprises, the installed capacity of wind power also achieved accelerated development in 2013. According to the statistics of China Wind Energy Association, in 2013, the new installed capacity of wind power in China reached 16.1 million KW, a significant increase of 24% year-on-year, and the cumulative installed capacity has exceeded 90million kW. In addition, according to the wind power industry data released by the National Energy Administration in February 2014, in 2013, China's newly installed combined wind power capacity was 14.49 million KW, with a cumulative combined capacity of 77.16 million KW, a year-on-year increase of 23%; The annual power generation was 134.9 billion kwh, a year-on-year increase of 34%

diversified competition intensifies

by 2011, China has become the largest country in the world in terms of wind power installed capacity. However, the previous extensive development has brought a lot of inefficient production capacity to the industry, causing frequent problems in wind farms, and fierce competition among enterprises and even closing the whole production line

after nearly two years of adjustment, one manifestation of the wind power industry's return to rationality is that the industry concentration has increased, and the market share of leading enterprises has also gradually expanded

according to the data, among the new installed capacity in the first half of 2013, the market share of the top ten suppliers of wind turbine has increased from 80% in 2012 to 90%

however, for wind turbine enterprises, the good days are just beginning to dawn. The profits of wind power manufacturing industry are still meager. The listed companies zhongjinfeng technology, Xiangdian Power Co., Ltd., Tianshun wind energy and Taisheng wind energy just improved their performance and did not achieve too high profits

at present, the price of wind turbines is around 4000 yuan/kW, which has dropped by 1/3 compared with 6000 yuan/kW in 2010. The excess capacity of wind power manufacturing directly depresses the purchase price of developers

in this case, it is an inevitable choice for wind power manufacturers to expand their business around the industrial chain. Except Sinovel wind power, which is still 100% engaged in wind turbine manufacturing and sales, other listed wind turbine machinery manufacturing enterprises have the trend of extending the industrial chain

according to the investment institutions, the wind power machinery manufacturing industry should maintain stable profits in the future without ups and downs. With the recovery of the wind power market, the growth of new installed capacity, and the previous installed products have reached the maintenance time limit, the future performance of wind power machinery manufacturing enterprises is expected to be further improved, but the windfall period has gone forever

for wind power enterprises, the future is promising

now, the profitability of wind power is even higher than that of thermal power and photovoltaic. Before, wind power enterprises were mainly trapped in mechanism arrangement, which brought many disadvantages to the operation of the electric field

now, the subsidies have been issued in time, the UHV lines in the three northern regions have been gradually completed, and the coordination between power supply and power supply has been improved. As a result, wind power operators have turned losses into profits, greatly improved their profitability, and enhanced their investment momentum. In 2014, the investment planning increased significantly month on month

with the increasingly stable growth of the industry, the maintenance and operation of wind power plants can bring stable cash to enterprises and develop a "composite digital production system" flow. The price of wind power will also gradually decline, and wind power enterprises will be more competitive in the market

China's wind power industry has entered a stable development stage from ultra-high speed development. The wind turbine manufacturing industry will face a shrinking limited market, and wind power generation will usher in a booming development

wanghaibo, vice president of Goldwind technology, once disclosed to the media that the company's net profit in 2013 was 400million yuan, but the net profit margin of the wind power manufacturing sector was only a little more than 1%, while the wind farm investment profit margin of Goldwind technology's subsidiary was 15%, 10 times that of the equipment manufacturing sector

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