Recently, A-shares have quietly risen a wind of "going to sea", and the concept of going overseas has been sought after by the market.
Igor and Yangdian Technology are both out of the trend of doubling their stock prices because of the power going overseas.
Today, we will dig a stock that also benefits from the power of going to sea, and it is Dalian Electric Porcelain.
Dalian Electric Porcelain is a high-tech enterprise belonging to the insulator arrester industry, UHV insulator leader, 70-80% of the revenue is UHV products. Dalian Electric Porcelain is one of the few qualified suppliers of porcelain insulators in China by State Grid, and it is also a single champion demonstration enterprise of the national manufacturing industry. Since 1950, the company has entered the international market, and has more than 70 years of export experience in insulator products.
The UHV insulator products produced by the company have significant advantages, and the market share ranks first, and the UHV revenue is expected to double in 24 years. The bidding situation of UHV insulators in the past 20 years: according to the type of material, porcelain insulators are the mainstream, accounting for 62%, and glass and composite account for 19% respectively. Among the bidding companies for porcelain insulators, Dalian Electric Porcelain ranked first with a share of 52%. It can be seen that the company is in a monopoly dominant position in the industry.
UHV porcelain insulators, Dalian electric porcelain market share of 50%, production capacity of 65,000 tons, Suzhou electric porcelain market share of about 35%, production capacity of about 50,000 tons. UHV porcelain insulators have a high threshold, and there are only 4 at present, and there are no new entrants. Therefore, Dalian Electric Porcelain basically has no new competitors for a period of time.
In its 2023 annual report, Dalian Electric Porcelain clearly pointed out that the grid-connected demand for overseas renewable energy and the renewal of old lines will bring opportunities for the domestic industrial chain to go overseas.
Enterprises in the industry are trying to find and develop overseas markets.
However, it is not so easy to go to sea, and look at Dalian Electric Porcelain's reply in the interactive easy:
Generally speaking, entering the overseas market requires the certification of the power department of the importing country, and the requirements of each country for qualification certification are different, and the evaluation and assessment of suppliers, the test report issued by the corresponding qualification laboratory and the product operation record are basically required. The company has a long history of exporting, and has obtained hundreds of product test qualification reports from well-known testing laboratories such as KEMA Laboratory in the Netherlands, CESI Laboratory in Italy, VEIKI in Hungary, Wuhan High Voltage Research Institute, XIHAR, etc., and exported to nearly 100 countries and regions. In recent years, the company has mainly concentrated in Southeast Asia and other "Belt and Road" countries and regions; The United States, Brazil, the European Union, Saudi Arabia and Egypt in the Middle East all export the company's products.
According to Dalian Electric Porcelain in its 2023 annual report, the company's foreign revenue accounts for 14.16%, which is a very high proportion.
Compared with the recently hyped Yangdian Technology (transformer going to sea), the proportion of foreign income is 3.03%:
Igor's exports account for 27%, and its share price has doubled recently; Yangdian Technology's export ratio is 3%, and the stock price has also doubled recently; Sieyuan Electric's export ratio is 17%, which has stepped out of the trend. Dalian electric porcelain is basically still hovering at the bottom, and it is obvious that there is room to make up for it.
Dalian Electric Porcelain's performance in 2023 will decline year-on-year, mainly due to the cost sharing of the Jiangxi factory. However, in 2024, the recent orders are full, and more than 700 million yuan of UHV project orders have been obtained, and the official itself predicts that the company's performance in 2024 will definitely be better than in 2023.
Moreover, Dalian Electric Porcelain specifically mentioned in this reply that "orders in overseas markets are also better than the same period", indicating that Dalian Electric Porcelain is really benefiting from this wave of power going to sea, which is probably the only official recognition in A-shares.
In the 2023 annual report, Dalian Electric Porcelain lists the gross profit margin by industry, product and region:
The gross profit margin of Dalian electric porcelain products exported abroad is 28.85%, while the domestic is 26.04%, it is obvious that the more export products, the greater the profit, so Dalian electric porcelain is very beneficial from the power to go to sea.
I will update the latest Huawei concepts, innovative weight loss drugs, digital economy, ChatGPT, AI computing power, CPO/silicon photonic chips, big data, 6G satellites, data elements, new medical infrastructure, integrated die-casting, automotive intelligence, lidar, HUD, automotive chips, air suspension, L3 intelligent driving, PET copper foil, nano battery, 800V high voltage, photovoltaic HJT, TOPCON, perovskite, photovoltaic XBC, BIPV, IGBT chips, silicon carbide SIC, CTP/CTC/CTB batteries, 4680 batteries, industrial machine tools, sea breeze flexible straight high voltage, new energy vehicle high-voltage fast charging, high nickel ternary, carbon fiber, PET aluminum foil, PET copper foil, air source heat pump, new materials, traditional Chinese medicine innovative drugs, traditional Chinese medicine formula granules, rural revitalization, lithium mines, vanadium flow batteries, sodium-ion batteries, distributed energy storage, centralized energy storage, antigen detection and other latest topics hot mining, the future belongs to the structural market with high expectations, Grasping the core track and the intrinsic value logic of individual stocks is the fundamental point.
— END —
Like it first and then watch it, and make it a habit
Disclaimer: The pictures and data come from the Internet, and the reprint is only for communication and learning, if there is any copyright problem, please contact the author to delete