大能源板块研究月刊
本期观点:
2007 年第八期总第十一期 z 煤炭板块估值合理,资源价值得到充分反映。但行业内
2007 年 8 月 1 日重组事件层出不穷,建议继续关注将受益于重组带来产
能扩张、产业链延伸的金牛能源(000937)、神火股份
(000933)、具有资源优势的西山煤电(000983)。
z 电力需求持续增长,但增速有所下降。电力板块上市公
司估值普遍反映了其中期业绩,整体上市和优质资产注
主办:国海证券能源投资研究中心入仍为市场所关注。鉴于输配网建设将进入快速增长阶
主编:朱宝和段,输配电类上市公司业绩将借此稳定增长,建议投资
责编:张晓霞者关注。
编辑张可 z 1~5 月,我国石油化工行业利润总额同比增长 27%,其
许月潮中油品加工扭亏为盈,化学工业同比增长 75%,而油品
开采同比下降 18%。预计未来石化行业的盈利结构将随
油价的不断走高而向上游转移。
z 风电产业的长期规划刺激了风电设备行业快速发展,相
关产业政策未正式出台之前,风力发电经济性不强,发
电话:86-755-83716756 展受到制约。长期来看,风电作为清洁可再生能源具有
E - Mail:xuyc@ 巨大发展潜力,行业投资价值凸现。但目前风电类上市
地址:中国•深圳公司如湘电股份(600416)、华仪电气(600290)、长城
福田区竹子林四路光大银行大厦 32 层电工(600192)涨幅过大,投资将面临一定风险。
518048 z 2006 年中国没有完成万元 GDP 能耗下降 4%的目标,为“十
一五”的后四年累积了更大的压力。同时,这种压力给
节能行业提供了巨大的机会,行业内上市公司业绩将借
此东风大幅提升。如哈空调(600202)、烟台万华
(600309)、鲁阳股份(002088)。
目录
【能源政策动态】························································································1
【行业指数】·······························································································2
【重点行业研究】························································································3
【能源行业简评】························································································5
【重点推荐公司点评】················································································7
【大能源板块细分子行业评级】································································9
【重点股票池】·························································································11
【能源产品价格趋势】··············································································13
【能源板块杂谈】······················································································14
【国海能源研究中心工作计划】······························································15
请务必参阅文章最后的重要提示
Page 1 of 15
【能源政策动态】
★今年国家安排 213 亿元资金用于节能减排
今年以来,国家加大了支持节能减排重点工程和能力建设等方面的投资力度。在年初国债
和中央预算内投资安排 63 亿元和中央财政预算安排 50 亿元的基础上,近期中央财政又增加 100
亿元资金,共 213 亿元用于支持节能减排。其中用于十大重点节能工程和节能管理能力建设的
资金为 90 亿元,为去年的 1
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