我们认为用电需求、基建加码共振，我们预计电网投资预计将在2020 年触底反弹；在此基础上，“新基建”概念定位精准，电网投资有望持续加码电网信息化与特高压工程两大发展主线，建议关注行业龙头的投资机遇。

The electricity generation, transmission, distribution, and consumption processes, within the vast industrial landscape, are undergoing dramatic changes. The electricity markets, par ticularly concerning the transmission and distribution network, have undergone restructuring, paving way to more advanced transmission technologies in the developing countries. High-voltage direct current (HVDC) technology is one of the catalysts that is driving transformation in the electricity market. HVDC transmission technology is a crucial technology, holding a potential to disrupt the power transmission landscape of the world. This technology is at the forefront of the emerging "smart grid" revolution, and it has emerged as an economically viable solution for bulk and long-distance power transmission. Various countries are adopting HVDC over HVAC, due to its cutting-edge features, such as long-distance transmission, asynchronous transmission, ease in controlling the active power link, the possibility of bulk power transmission, and low loss (typically 30-50% less transmission loss than comparable alternating current overhead lines) in transmission of power.

Air emission regulations and legislations, globally, have lasting effects on various markets of the world. The markets that predominantly use fossil fuels were the worst affected with these regulations, and these markets have started to adopt alternative fuel sources that show lesser environment impact. In such a context (with LNG being a relatively cleaner fuel), the market studied was valued USD 250.47 million in 2018, and it is projected to reach USD 760.31 million by 2024, at a CAGR of 15.91% over 2019-2024 (henceforth referred as ‘the forecast period’). The market studied has evolved over the past decade, driven by the growth in the global LNG usage, clean energy demand, and its ability to reduce greenhouse gases emissions. The order and delivery of LNG-powered vessels are growing and the reduced natural gas prices in 2014 have marked the beginning of expanding opportunities for such vessels. A gradual shift to LNG for propulsion is more advantageous, as compared to the traditional methods of fuelling ships with heavy fuel oil, marine gas oil, marine diesel oil, and others. LNG-based propulsion reduces carbon footprint significantly and increases the ship’s operational efficiency.

2020年1-4月份，电力行业呈现平稳运行态势，主要运行指标还处于下降的区间，但随着国民经济运行继续恢复改善，呈现积极变化。其中，电力、热力生产和供应业固定资产投资降幅收窄，且电源投资增速继续回升。全国电源新增发电装机容量仍不及上年同期，全国发电设备容量保持低速增长，全社会发电量增速同比降幅有所收窄。全社会用电量仍处于负增长区间，降幅也继续收窄，且4月当月用电量增速由负转正。此外，电力、热力生产和供应业营业收入及利润总额同比仍明显下滑。

Zeolites were first discovered in the 18th century as a natural mineral which has an exceptional adsorption property. Zeolites are crystalline solids structures made of aluminosilicates with variable Si/Al ratio, that form a framework with cavities and channels inside, where cations, water, and small molecules could get adsorbed or desorbed. Synthetic zeolite could be produced from natural minerals, such as natural zeolite, silica, and alumina. Due to their large pore volume, zeolite molecular sieves have an impeccable adsorption capacity and catalysis properties. Since the birth of synthetic zeolite, the application of synthetic zeolite has been greatly expanding. Zeolites molecular sieves are currently used in a wide range of industries, such as oil and gas, petrochemicals, wastewater treatmen t, environmental, automotive, pharmaceuti cal, a griculture, and aquaculture for the application of catalysis, separation processes, adsorption of Sulphur and nitrogen, prevent air pollution, etc. Zeolite catalyst consumption is dominated by the Fluid Catalytic Cracker (FCC) and desulphurization application in refineries, which accounts for more than 70% in value.

Wind turbines are beginning to be used for electrical generation, having previously been used for various other applications, such as sailing, agriculture, grinding, and others. From an emerging power source, 20 years ago, wind turbine technology has been transformed into a commercial electricity- generating technology in more than 80 countries. While the world has been harvesting energy from wind for several decades, the growing environmental concerns in last few years have driven the deployment of renewables, globally. The usage of wind power has reached a point where it has become a noticeable contributor to the world’s energy mix. The exponential growth in the wind energy market is supported by depleting fossil fuel reserves, declining cost of wind power generation, growing sensitivity toward environmental issues, and support from various governments around the world, through financial incentives.