Shanghai electric (group) Co., LTD. Is China's three big electric power equipment manufacture enterprise, one of the main business covers efficient clean energy, new energy and industrial equipment and modern service industry and so on four big plate.
Points plate to see, Shanghai electric income ratio about present "4321" distribution, namely the efficient clean energy sector (thermal power unit, gas units, nuclear power ChangGuiDao and power transmission and distribution equipment) income accounts for about forty percent of total revenue; Industrial equipment plate (elevator, glue gunnc machine tools, motor, printing and packaging machinery, etc) income accounts for about thirty percent of total revenue; The modern service industry plate (covers EPC project contracting, financial services, international trade, etc) income accounts for about twenty percent of total revenue; New energy sector (nuclear power of nuclear, wind power units) income accounts for about ten percent of total revenue
Each plate 2011 NianZhongBao profits, to Shanghai electric net profit contribution to the growth of the largest is efficient and clean energy sector, operating profit up 30.1%, accounting for about 46% of the profits of the company business. So, thermal power plate profits rise is the company by 2011 years the biggest cause of rapid growth performance.
Shanghai electric by the end of 2011 the total order slightly increased, but structure is changing. The loss of the largest is the nuclear power ChangGuiDao and thermal power orders, reflects the domestic nuclear power for examination and approval to stop and thermal power examination and approval the big drop impact. Wind power and order a 2010 gas turbine has a substantially increased, good prospect.
Rapid business growth gas turbine
Efficient clean energy sector was the core of Shanghai electric plate, glue stickmainly by thermal power (including CCGT), nuclear power transmission and distribution ChangGuiDao and three sons of plate, accounting for more than forty percent of income than. The main products are boiler, turbine, steam turbine generator, auxiliary engine and power distribution equipment, etc.
From Shanghai electric order to see, the end of 2011 thermal power orders for 90 billion yuan, a $95.9 billion by the end of 2010 drop about 6%, but we think that the order of the decline of the thermal power trends will continue for a long time.
Shanghai electric currently has about 30 million kw thermal power equipment capacity, is in the three largest thermal power equipment manufacturers one. Shanghai electric in 1000 MW ultra-supercritical units have absolute superiority, the market share of 50% or more.
It is Shanghai electric gas turbine business. According to the electric power industry "1025" planning research report, by 2015, small gas scale will reach 30 million kilowatts; In 2020, reach 40 million kilowatts. By the end of 2009, the domestic gas electric capacity up to 24 million kw. And we can see that the natural gas distributed power generation instruction opinion "(drafts) proposes that in the year 2020, the installed capacity up to 50 million kw. And no matter the target for 2020 to 40 million kw or what is 50 million kw, the future will be about 20 million kw 8 years of gas turbine market and waiting to be divided up, to 3000 yuan per kilowatt cost estimation, market capacity of 60 billion yuan, with an average annual 7.5 billion yuan, the big three automakers divide the words, each about can get 2.5 billion yuan a year incremental order.
Just consider the above domestic market, and Shanghai electric export markets including India, by the end of 2011 in order to 8.3 billion yuan, a 30% growth at the end of the year before. Shanghai electric gas turbine partner is Siemens, relying on its platform, technology advantage can be guaranteed, and Shanghai electric are focused on IGCC gas turbine and parts of introduction and absorption and independent research and development of manufacturing, will form the 24 computer/years of gas turbine capacity.
Nuclear power in the second quarter of the examination and approval or restart
Nuclear power from March 2011 Japanese f island nuclear after the accident, the examination and approval has been stalled. Japan's accident to China is revealed, a, safety is first; Second, the Westinghouse AP1000 nuclear power generation technology, three must be adopted. As the nuclear security planning "near completion, the expected to restart nuclear power is more and more strong, nuclear power for examination and approval in the second quarter of this year is big probability events restart. And the latest news also points out, the latest completed the medium and long term development plan nuclear power adjustment of 2020 target is adjusted for nuclear power installed 80 GW, higher than expected 60-70 GW, show that China nuclear ambition still no change.
The Westinghouse AP1000 is the Westinghouse company three generations of nuclear power technology, although the world has not yet have the use of the forming of the third generation of nuclear power technology power plants, but the native American companies for the Westinghouse AP1000 technology used nuclear power plant has been the NRC license issued by the construction, not just only China's three and haiyang nuclear power plant. Therefore, we believe, in the United States to nuclear power technology under the strict control of, the safety problems of small probability.