Product/Service Type: Electric Water Heaters Industry: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing Barnes Reports' Global Manufacturing & Makets report series provide estimates of the size and characteristics of the largest equipment, materials and consumables by manufacturing industries in the largest 140 global countries. These estimates are produced by a proprietary economic model that is based on a number of sources and factors

Product/Service Type: Electric Vehicle Charger and Charging Station Market Industry: Automobile Mfg. Barnes Reports' Global Manufacturing & Makets report series provide estimates of the size and characteristics of the largest equipment, materials and consumables by manufacturing industries in the largest 140 global countries. These estimates are produced by a proprietary economic model that is based on a number of sources and factors

新能源公司收益趋于稳健，未来有望维持。尽管面临负电价、电价下行等挑战，2022 年新能源发电企业盈利视频仍有较好表现。经测算，A 股 25家新能源发电企业中有 13 家调整后的 ROE 同比有所提高，ROE 排名前10的公司中有6家实现了调整后 ROE 同比提高各公司通过市场化交易绿电绿证、碳排放权交易等方式提升项目盈利。预计未来随着深化电力体制改革和加快构建新型电力系统的推进，未来绿电运营商收益率有望逐步趋稳

Equipment Type: Parts and accessories for residential-type portable lighting fixtures Industry: Lighting fixture manufacturing The equipment described in this report are primarily defined by its title since the title is generally long and includes most of the criteria used to differentiate the equipment from other similar equipment. The equipment descriptions are sourced from the U.S. Census. Additionally descriptions can be collected from the manufacturing industry descriptions that each equipment is categorized. The U.S. Census manufacturing industry descriptions for equipment are listed below

Equipment Type: Outdoor lighting equipment (including parts and accessories) Industry: Lighting fixture manufacturing The equipment described in this report are primarily defined by its title since the title is generally long and includes most of the criteria used to differentiate the equipment from other similar equipment. The equipment descriptions are sourced from the U.S. Census. Additionally descriptions can be collected from the manufacturing industry descriptions that each equipment is categorized. The U.S. Census manufacturing industry descriptions for equipment are listed below

发电端，电源端投资已进入高景气周期。2020 年起风电光伏投资额显著提升，2023H1 电源投资累计同比增53.8%。东方电气为电源装备行业龙头企业，将充分受益于电源投资增长。输变电端，核心一次设备量利齐增。需求侧：1）网内输变电采购总额高增，前两批次同比+50%以上。2）网外市场由风电、光伏等新能源装机高增带动变压器等需求旺盛。3）海外需求高增，H1 变压器、高压开关等出口额增速超 25%。供给侧：1）核心原材料（硅钢、铜）价格下行，疫情影响消除，毛利持续修复。2）产量增速不及需求增速，供需偏紧。整体表现出量利齐增的趋势。特高压方面：已有 3 条直流线路开工，前两批设备采购额 143亿元，远超同期。新能源大规模外送消纳需求下，预计后续新增项目将持续落地。整体来看，输变电一次设备呈现量利齐增趋势；格局稳定头部集中；高电压产品价值量、技术壁垒、获客成本均较高，收入弹性较大。

Equipment Type: Other fluorescent lighting equipment, complete units, including processing equipment Industry: Lighting fixture manufacturing The equipment described in this report are primarily defined by its title since the title is generally long and includes most of the criteria used to differentiate the equipment from other similar equipment. The equipment descriptions are sourced from the U.S. Census. Additionally descriptions can be collected from the manufacturing industry descriptions that each equipment is categorized. The U.S. Census manufacturing industry descriptions for equipment are listed below

Equipment Type: Other pole and transmission line hardware, including anchors Industry: Wiring device manufacturing The equipment described in this report are primarily defined by its title since the title is generally long and includes most of the criteria used to differentiate the equipment from other similar equipment. The equipment descriptions are sourced from the U.S. Census. Additionally descriptions can be collected from the manufacturing industry descriptions that each equipment is categorized. The U.S. Census manufacturing industry descriptions for equipment are listed below