進(jìn)入10月份后，大部分公司的三季報(bào)均已公布。根據(jù)市場資訊、公司財(cái)報(bào)、專業(yè)人士看法等各種信息的綜合計(jì)算，我們智語科技投研平臺(tái)中的策略持倉也發(fā)生了不少變化。今日我們將為大家介紹進(jìn)入我們策略的光伏龍頭——隆基股份 。
1、前途光明的新能源——光伏行業(yè) 光伏發(fā)電是目前主流的新能源產(chǎn)業(yè)，通過將太陽能的利用與轉(zhuǎn)化，從而實(shí)現(xiàn)電能的不斷產(chǎn)出。目前光伏發(fā)電的滲透率在全球范圍內(nèi)僅有個(gè)位數(shù)出頭，而隨著各個(gè)國家對(duì)碳排放、環(huán)保要求的逐步增加，清潔能源新能源的占比將進(jìn)一步提高。國際能源署IEA預(yù)計(jì)，到2040年，可再生能源將占到總電力生產(chǎn)的2/3以上，太陽能與風(fēng)能將占據(jù)其中的40%。疊加電力需求長期增長，光伏行業(yè)有著光明的發(fā)展前景。
2、技術(shù)領(lǐng)先、低成本經(jīng)營構(gòu)筑公司強(qiáng)大的護(hù)城河 光伏發(fā)電站的主要原材料為硅片以及相關(guān)硅片組件構(gòu)成。經(jīng)過了幾年的發(fā)展，單晶硅以及單晶硅組件所構(gòu)成的產(chǎn)品體系，成為了目前光伏市場中電力轉(zhuǎn)換效率最高、發(fā)電成本最低的主要原材料產(chǎn)品。光伏發(fā)電的成本相對(duì)較高，與其他清潔能源相比并沒有成本優(yōu)勢。如何在降低補(bǔ)貼的環(huán)境中更好的生產(chǎn)，降低原材料價(jià)格、降低投資相關(guān)成本是整個(gè)行業(yè)持續(xù)發(fā)展的關(guān)鍵。為了提升自身的產(chǎn)品競爭力，隆基股份在拉棒、切片等主要等生產(chǎn)環(huán)節(jié)中不斷提升，將自身的非硅成本不斷降低（截止2018年，公司的非硅成本僅有0.8-0.9元/w低于行業(yè)平均水平的1.1元/w），PERC電池的轉(zhuǎn)化效率也達(dá)到了24.06%的水平，這使得公司的單晶硅以及單晶硅組件產(chǎn)品在市場中更具競爭力，隨著未來新增產(chǎn)能的逐步釋放，公司的盈利水平有望再上一個(gè)臺(tái)階。

光伏行業(yè)的發(fā)展可謂幾經(jīng)波折，政策補(bǔ)貼的下降，技術(shù)的革新使得整個(gè)光伏行業(yè)老大幾度易主。不過經(jīng)過了數(shù)年的資本投入與激烈拼殺，隆基股份的成本優(yōu)勢與技術(shù)優(yōu)勢逐步體現(xiàn)，新增產(chǎn)能的釋放與光伏發(fā)電滲透率的提高將使得隆基股份擁有較好的發(fā)展前景（市場預(yù)期未來兩年凈利潤的復(fù)合增速將超過25%）。目前公司股價(jià)走勢較為強(qiáng)勢，如果未來公司短期股價(jià)出現(xiàn)較大調(diào)整且光伏行業(yè)發(fā)展穩(wěn)定，投資者們可以密切關(guān)注隆基股份的投資機(jī)會(huì)。

Entering October, most of the company's third-quarter results have been released. According to the comprehensive calculation of market information, company financial statements, professional views and other information, our wisdom language technology investment research platform in the strategic position has also undergone a lot of changes. Today we will introduce to you into our strategy of photovoltaic leading - Longji shares.

1, promising new energy - photovoltaic industry photovoltaic power generation is the current mainstream of the new energy industry, through the use and transformation of solar energy, so as to achieve the continuous output of electric energy. At present, the penetration rate of photovoltaic power generation is only in the low single digits globally. With the gradual increase of carbon emissions and environmental protection requirements in various countries, the proportion of clean energy and new energy will further increase.The IEA, the international energy agency, predicts that by 2040 renewables will account for more than two-thirds of total electricity production, with solar and wind accounting for 40%. Superimposed power demand long-term growth, the photovoltaic industry has a bright future.

2. Leading technology and low cost management build the company's powerful moat photovoltaic power station. The main raw materials are silicon wafers and related silicon wafers. After several years of development, the product system composed of monocrystalline silicon and monocrystalline silicon components has become the main raw material products with the highest power conversion efficiency and the lowest power generation cost in the current photovoltaic market.The cost of photovoltaic power generation is relatively high and there is no cost advantage compared to other clean energy sources. How to better production in the environment of reduced subsidies, reduce raw material prices, reduce investment related costs is the key to the sustainable development of the whole industry. In order to improve product competitiveness, shares in the longji pull rods, slice, mainly in the production links such as rising, will own the silicon to reduce costs (by 2018, the company is a cost only 0.8 0.9 yuan lower than the industry average of 1.1 yuan/w/w), the PERC battery conversion efficiency reached 24.06%, the company's monocrystalline silicon and monocrystalline silicon components products more competitive in the market, as the future new capacity gradually release, the level of profitability is expected to be a higher level again.

The development of the photovoltaic industry can be said to be several twists and turns, the decline of policy subsidies, technological innovation makes the whole photovoltaic industry boss several changes. However, after several years of capital investment and fierce struggle, the cost advantage and technical advantage of Longji Stock are gradually reflected. The release of new capacity and the improvement of photovoltaic power generation penetration rate will make Longji Stock have a good development prospect (the market is expected that the compound growth rate of net profit in the next two years will exceed 25%).At present, the company's stock price trend is relatively strong. If the company's short-term stock price appears a large adjustment in the future and the photovoltaic industry develops steadily, investors can pay close attention to the investment opportunities of Longji shares.