Grid investment is relatively independent of the macroeconomic environment, and there is even a counter-cyclical nature in some forms. When the macro economy is declining, the more certainty of grid investment will be reflected. According to forecast, by 2015, the total market size of distribution automation equipment will reach 12 billion yuan, compared with 2010, the compound annual growth rate may reach 60%. Compared with other sectors, the market demand for distribution automation is highly deterministic and the growth elasticity is large. High-quality listed companies that benefit from industry growth may become growth stocks in the coming years.

The 12-year UHV AC transmission project approved by the power equipment industry may accelerate its process, and related sectors will obtain a phased opportunity. The deepening of pilot substations for smart substations and the increase in demand for secondary equipment in substations will result in substation secondary equipment leading enterprises obtaining Above the overall growth rate of the power transmission equipment sector. According to forecast, by 2015, the total market size of distribution automation equipment will reach 12 billion yuan, compared with 2010, the compound annual growth rate may reach 60%. Compared with other sectors, the market demand for distribution automation is highly deterministic and the growth elasticity is large. High-quality listed companies that benefit from industry growth may become growth stocks in the coming years. The “Twelfth Five-Year Plan” puts UHV construction in the government’s work report for the first time. This is a major benefit of UHV construction in the next few years. However, this good point is considered to be biased. The key word is that the expression “UHV” has changed from the original “grid” to “transmission”, and the difference between the two words indicates that the future large-capacity transmission between regions will be UHV DC. As the main method, at the same time, a “three vertical and three horizontal” UHV AC grid will be built within the “Sanhua” (North China-Central China-East China) regional power grid. The UHV AC construction will be “downsizing” and ultra-high voltage DC transmission. It will not affect or even expand the scale of construction.

The UHV AC line has been under full-load operation and is one of the major concerns of the opposition to UHV AC construction. The 1,000-volt Jindongnan-Nanyang-Jingmen UHV AC pilot demonstration project successfully completed the first phase of the heavy load test and partially broke this. There are doubts, drying equipment such as iron-selecting equipment and cement ball mill manufacturers, which will have a positive impact on the smooth implementation of the UHV AC construction in the future. We believe that although the progress of the U.S.-wide U.S. exchange approval process is slower than expected, a good start is half of the success, and U.S. high-voltage exchange follow-up development is optimistic. Smart meters, power management and acquisition systems, it is recommended to pay attention to the new United Electronics, Neusoft carrier (to master the core technology, in recent years is the outbreak of performance); intelligent power distribution, intelligent scheduling, it is recommended to pay attention to State Power Nanrui (smart grid leader , Endogenous and epitaxial growth can be expected), Zhongneng Electric (leading companies in the distribution sector, actively planning the integration of the industrial chain); in the aspect of flexible transmission, it is recommended to pay attention to Rongxin Group; in terms of digital substations, it is recommended to pay attention to Guodian Nanrui and Guodian South. From the intelligent transmission side, it is recommended to focus on the Polytechnic test.