UHV "13th Five-Year Plan" ushered in the outbreak

UHV "13th Five-Year Plan" ushered in the outbreak, seven enterprises are worth full of layout
.
The following is an analysis
of seven enterprises: Baobian Electric, Guangdian Electric, Chint Electric, Confidence Electric, Sifang Shares, Xuji Electric and TBEA.

Baobian Electric: Reach the recommended target price and be optimistic about the flexibility of subsequent performance

UHV, nuclear power, and Belt and Road flexible targets, with large room for performance improvement; The input cost of major shareholders is close to the current market value, and the future market value space is large from the perspective of preserving and increasing the value of state-owned assets; The reform of central SOEs and state-owned enterprises has been comprehensively advanced, and the company is expected to pilot many reform measures to comprehensively improve performance and employee motivation; There are many catalysts during the year: the opening of the Boao Forum for Asia is expected to have multiple benefits along the Belt and Road, the start of bidding for nuclear power plants, the approval of UHV bidding in the second quarter, follow-up asset injection, the promulgation of a number of measures for the reform of state-owned enterprises, and the growth rate of quarterly performance exceeding expectations
.
As the future revenue and cost sides still maintain a large elasticity that cannot be predicted at present, we recommend that investors make expectations for this, maintain their previous profit forecasts for the time being, and expect 2015-16 results of 0.
26 yuan and 0.
4 yuan respectively, raising the target price to 16 yuan, and maintaining a buy rating
.

Radio and Television Electric

Guangdian Electric is a company with the production and sales of high and low voltage complete sets of equipment and component products as its main business, integrating R&D, production, sales and service, providing overall power distribution solutions for users in all walks of life, and is a well-known supplier of electrical equipment in China
.
The company's products are divided into two types of complete sets of equipment and components, with a total of 45 model series
.
The company's products mainly focus on voltage levels of 40.
5kV and below, which can realize functions such as electrical switch control and intelligent terminal control
.
The company is one of the few domestic enterprises that can provide a full range of 40.
5kV and below voltage level transmission and distribution products, is the vice president of Shanghai Electrical Industry Association, has been committed to promoting the development of
domestic electrical products and electrical technology.
The company's products have successively won the honorary titles of Shanghai electrical appliance industry famous products, Shanghai famous brand products, Shanghai famous trademarks, China famous brand products, national inspection-free products and so on
.

Chint Electric: Chint in the Internet era

The company has developed from a component manufacturer of low-voltage electrical appliances to a system solution provider
integrating low-voltage electrical appliances, building electrical appliances, automatic control, intelligent electricity consumption, new energy, new energy vehicles, environmental protection and finance.
With the combination of traditional manufacturing and Internet technology, Chint Electric is moving
towards energy Internet and Industry 4.
0 system solution provider.

The combination of supply chain finance and e-commerce opens up a new sales model and profit model
.
Deeply participate in the energy Internet and master three major entrances: energy Internet = energy industry + information Internet
.
In addition, Chint will also become an important member of Industry 4.
0: "Made in China 2025" as the top-level planning and roadmap of China's manufacturing industry in the next 10 years, learning from the German version of Industry 4.
0 plan
.
Chint implements intelligent manufacturing internally, builds an external IoT platform, and provides overall solutions
for smart city and industrial informatization.
Among them, the automatic control cadre will unload the burden of the past to Shanghai Xinhua, and the incentive policies are in place, and there will be rapid growth
in the future.
Industrial automation, new energy vehicles, energy storage targets will become the company's subsequent mergers and acquisitions, and investment in environmental protection may continue to increase
.

Confidence Electric: Transformers are lower than expected, and asset injections drive energy-saving business

Zhixin Electric released an asset restructuring plan, intending to issue 109 million shares at 10.
22 yuan per share, and acquire 100% of the equity of Wuhan Nari held by the State Grid Electric Power Research Institute, with a pre-assessed value of 1.
119 billion yuan
.

After the acquisition of Wuhan Nari and the completion of asset restructuring, the company's technical strength in the field of energy-saving services will be significantly strengthened, and it is expected to become the most important energy-saving business development platform
under the State Grid system.
At present, the landing of large orders of energy conservation services in Zhejiang and Chongqing is lower than expected, and the injection of Wuhan Nari will form a good synergy effect with the company's energy conservation business, which is expected to accelerate the implementation of the project and help the release
of energy conservation business capacity.
However, since the domestic energy-saving business has not yet explored a successful business model, it remains to be seen
whether the company's net profit can be significantly increased in the future.

Sifang Shares: Stable growth of on-network business, further acceleration of off-network expansion

In the first three quarters of 2014, Sifang's profit fell by 3.
8%, mainly due to the decline in power grid investment and the bottleneck of the
company's production capacity.
We expect grid revenue to resume growth next year, UHV revenue to increase significantly, and the company's capacity problem will be resolved early next year to ensure earnings growth
next year.

Xu Ji Electric: The outbreak of UHV will drive a significant increase in the company's performance - take time to continue the past and forge ahead

Xuji Electric's continuous integration is expected to build a strong flagship of the smart grid industry
.
The company continues to improve the industrial layout, and its products have covered all aspects of power systems such as power generation, transmission, power distribution and power consumption, spanning the fields of primary and secondary, high and medium voltage, AC and DC equipment, and has grown into an industry leader
.
In particular, it has a significant competitive advantage in the UHVDC and distribution network business, which is in line
with the strategy of power grid companies to focus on solving the problem of "weak at both ends".

TBEA: Leveraging the Belt and Road strategy to accelerate the expansion of overseas markets, the transformer king has returned

Benefiting from the Belt and Road Initiative, the launch of the Belt and Road Economic Belt transmission corridor, TBEA's overseas business has shown an accelerated growth trend
.
As a local leader in primary equipment and engineering general contracting in Xinjiang, the company will greatly benefit
.
The first step of the State Grid Corporation's "Belt and Road" economic belt transmission corridor is to realize the connection with the power grids of five Central Asian countries, share Kazakhstan's large-scale energy base and Central Asia's rich wind and solar energy resources, and in the long term it will be connected
with Mongolia, Russia and other countries.
At present, the State Grid Corporation of China has selected Xinjiang as an important node for the implementation of the "Belt and Road" strategy, taking the lead in building the transmission corridor of the Silk Road Economic Belt and building a transmission channel
from Xinjiang to the five Central Asian countries.
At the same time, cooperation with neighboring countries on power projects has been increased, and in this context, the energy interconnection project of the China-Pakistan Economic Corridor has begun to be launched
.