抵御全球气候变暖的三大奠基性文件达成。我国目前是全球碳排放第一大国，若要实现碳中和，需要实现的碳排放减量要远高于其他经济体。在我国2060 年碳中和的目标下，碳减排需要从消费端以及应用端同步入手。电气化作为道路交通领域碳中和的必经之路，电动车
中的关键零部件—动力电池需求将会持续增长，我们推荐具备全球竞争力的动力电池龙头链标的。

为什么21-22年光伏胶膜行业会发生价格战？a）胶膜行业盈利高点，下游客户盈利低点：以胶膜行业福斯特和下游组件行业晶科为例，二者Q4毛利率分别约36%、14%，分别为2019年来最高点和最低点。）供需看，供过于求：21、22年行业供给较需求分别高出30%、36%。c）龙头福斯特拥有强定价权，为扩张自身市场份额或率先降价：福斯特胶膜行业市占率超50%，Know-How打造的成本护城河使公司毛利率高于同行3-6%，从历史复盘看，公司具有主动发动降价的可能性。 价格战下，不同梯队公司盈利能力几何？1）原材料价格假设：以年度来看，2021年光伏级EVA树脂原料供不应求（供给63万吨，需求69万吨），价格将维持高位；22年随新增产能光伏级树脂量产，行业供过于求（供给87万吨，需求83万吨），原材料价格将下行。假设21、22年树脂平均价格为1.6、1.2万元/吨。

欧洲2020 年新能源汽车销量有望超彼时市场预期，将成为全球最大新能源汽车消费市场，销量达到130 万辆左右，渗透率10.42%，且不排除全年销量超130 万辆的可能性。上述观点及相关预测数据已经获得验证，EV sales 数据显示，2020 年欧洲新能源汽车销量增长142.4%至136.71 万辆，渗透率11.41%。展望2021 年，我们保守预计欧洲市场新能源汽车销量或超200 万辆，同比增长46%左右，渗透率16%左右。

短期需持续关注产业链价格传导及各环节供需和机构抱团及配置型 行为；长期上我们鉴定看好光伏产业。2021年市场来看，把握供需偏紧，格局较优的环节。

中国制造业正在由大变强。回顾近10 年的发展历程，我们认为中国制造业正在崛起。从机械行业市值看，2010 年末全行业市值为1.2 万亿元，2021 年2 月1 日则达到3.5 万亿元，其中龙头公司市值超过3500 亿元。2019 年机械行业收入规模1.3 万亿元，利润总额598 亿元，研发投入预计超过653 亿元，分别是2010 年的2.3 倍/1.4 倍/5.5 倍。因此，中国制造业正在由大变强。

1 月份市场整体上升，机械行业（中信分类）指数上涨1.33%，跑输沪深300 指数1.37 个pct。从市盈率看，机械行业TTM 市盈率约为46.59倍；从市净率看，机械行业市净率约为3.00 倍，处于历史较低位置。从细分行业看，半导体装备/检测服务/光伏装备涨幅靠前，油气装备/船舶海工/新能源汽车装备涨幅靠后。

The report covers detailed analysis of trends, future estimations, and a thorough study of the fishing equipment market on the basis of type, nature, distribution channel, and region. It analyzes government regulations, policies, and patents to provide information on current market trends and suggests future growth opportunities, globally. Furthermore, the study highlights Porter’s five forces analysis to determine factors affecting the market growth. These factors include raw material prices, intense competition, end user, manufacturers, and suppliers. To understand the market, drivers, restraints, and opportunities are explained in the report. Furthermore, it includes revenue generated from the sales of the fishing equipment market across North America, Europe, Asia-Pacific, and LAMEA.

Roll slitting or slitting is an integral part of the converting industry. It includes reducing the size of a master roll by slitting it into smaller and manageable rolls. Roll slitting machines are mainly available in two major types, namely, roll/log slitters and slitter rewinders. Roll/log slitting machines are utilized to cut master roll into rolls with smaller widths by slicing it, without the necessity of unwinding and rewinding the roll. Whereas a slitter rewinder is a sophisticated machine that enables unwinding, slitting, and rewinding of the master roll and thus, allow formation of much smaller rolls. The report on the global roll slitting machines market presents a detailed analysis of the trends, future estimations, and thorough study of the market depending on material, type, operation, and region. The type covered in the study include roll/log slitters and slitter rewinders. The report further provides information on material, which include paper, polymers, foil, and other. Moreover, it provides details about roll slitting machines depending on manual and automatic machines.

Vital signs provide critical information about a patient’s health to identify acute medical problems, an indication of chronic disease state, and to understand how the body copes with physiological stress. The normal ranges of the four major vital signs (body temperature, blood pressure, pulse, and breathing rate) vary with age, gender, weight, as well as the overall health of the person. As vital signs can easily be monitored at home, it can assist individuals in early diagnosis of various medical conditions. This will make them undergo the required medical treatment on time without any further delay. The global vital signs monitoring devices market is expected to witness significant growth during the forecast period, owing to an increase in the importance of vital signs monitoring devices in home care settings and improved reimbursement scenario in developed countries. In addition, an increase in the geriatric population and a rise in the prevalence of cardiovascular disorders such as hypertension and other pre-existing health conditions, including COPD, sleep apnea, and infectious diseases, are fueling the demand for vital signs monitoring devices across the globe. Moreover, an increase in the use of vital signs monitoring devices for fitness monitoring and a rise in ambulatory surgery centers across various countries, which use vital signs monitoring devices routinely, fosters the market growth.

The following standards and guidelines play a vital role in the design, adoption, and operation of data center cooling solutions and other related infrastructure. › Uptime Institute: The Uptime Institute is involved in certifying the data center property based on its design, development, operations, and reliable and redundant capabilities. It certifies data centers based on Tier I to Tier IV levels. Uptime certifies new facilities and existing ones. This certification is gaining importance among data center service operators. Irrespective of the certification, facilities operating N+1 redundant infrastructure are called Tier II/Tier III