The performance of renewable energy in the second quarter is divided. Deye shares are expected to increase by 85%. Photovoltaic silicon materials are expected to continue to lose m
The J.P.
The J.P. Morgan report pointed out that China's second-quarter performance expectations for the renewable energy sector are divided. Deye Holdings (605117.SH) is expected to increase by 85%, while the performance of Goldwind Technology and Sungrow is mediocre, and the photovoltaic silicon industry chain is expected to continue to suffer losses. The report believes that stock price fluctuations are opportunities to deploy companies with high-quality fundamentals. It highlights targets such as Dongfang Cable (603606.SH), Deye Co., Ltd., and Sungrow Power Supply (300274.SZ). It is also optimistic about long-term structural logic such as offshore wind power and the increase in overseas share of Chinese wind turbines. The market has expected overall losses in the photovoltaic industry, but may not have paid enough attention to the structural opportunities for offshore wind power and overseas share expansion. One sentence conclusion: The performance of the renewable energy sector is divided, and photovoltaic silicon materials are deeply in losses, but there are structural investment opportunities in offshore wind power, inverters and overseas wind turbine export and other sub-sectors. Good/bad: Good for Deye Co., Ltd. (605117.SH), Dongfang Cable (603606.SH), Sungrow (300274.SZ), etc. It is bad for photovoltaic silicon companies (such as Tongwei Co., Ltd. and GCL Technology). The market's pessimistic expectations for the photovoltaic industry have been fully reflected, but the structural opportunities for offshore wind power and overseas share expansion have been underpriced. Catalysts: 1) 2Q26 financial reports of each company, verifying performance differentiation trends; 2) offshore wind power project bidding and start-up data; 3) the acquisition of overseas orders for Chinese wind turbines.