您的浏览器禁用了JavaScript(一种计算机语言,用以实现您与网页的交互),请解除该禁用,或者联系我们。[中泰证券]:宁德时代神行PLUS发布,帆石二启动风机招标 - 发现报告
当前位置:首页/行业研究/报告详情/

宁德时代神行PLUS发布,帆石二启动风机招标

电气设备2024-04-29曾彪、吴鹏、朱柏睿、赵宇鹏中泰证券G***
宁德时代神行PLUS发布,帆石二启动风机招标

!"#$%&'()*+,-./01 2 !"#$%&PLUS'()*+,-./012 3456789: ;<=>?@/&AB? 2024C4D28E FGHIJK LJ M !"#$%& '()*+,$S0740522020001 Email$zengbiao@zts.com.cn !"#$-. '()*+,$S0740522040004 Email$wupeng@zts.com.cn !"#$/01 '()*+,$S0740522080002 Email$zhubr@zts.com.cn !"#$23. '()*+,$S0740522100005 Email$zhaoyp02@zts.com.cn [Table_Profit] NOPQ 45678 357 9(:5;(<=) 49,733 9(>?5;(<=) 41,856 [Table_QuotePic] &A-RSTUVW 67@ABCDEF [Table_Report] XY?@ [Table_Finance] Z[\]NOPQ GH CI (=) EPS PE PEG JK 2023A 2024E 2025E 2026E 2022 2024E 2025E 2026E !"#$ 90.05 4.45 5.41 6.66 8.11 20.23 16.65 13.52 11.10 0.8 %& '()* 198.48 10.03 11.97 14.75 17.59 19.79 16.58 13.46 11.28 0.9 %& !+,- 20.58 2.54 3.17 3.96 3.49 8.09 6.50 5.20 5.90 0.3 %& .,/0 54.05 2.67 4.56 5.73 6.43 20.25 11.85 9.43 8.41 0.2 %& 123 97.68 2.54 4.81 6.15 7.55 38.45 20.31 15.88 12.94 0.2 %& 45/6 39.04 1.45 1.84 2.51 3.14 26.85 21.22 15.55 12.43 0.8 %& LM $CI8NOP2024Q4R26STUIVWXYZ[Wind\]^_ n !"#4$25%&'()*+,-./01234!"567889:PLUS;<."5=>?@1000AB1CDEF&G?HI1J1ABK1LMNEOP&QRS0T234!"51PEUV;4$24%&WXYZ[\]^_`abcd&ef+,TgEhifjk1/0gE\]lmno7p88efqr;efgE\]lmnoBU CEOstuvw&2024xygEhiz{|}~x&ÄÅxÇÉÑÄ@50ÖÜ]áàqrgh;âäãåçéèêëí+ìîïñó0Eò]êôöõ+^@îúù1ûü†°¢£§•¶ß&®R©0Eò\]|™ ́ê ̈≠ÆØ∞±ó:≤≥, ́¥1ÆØ∞±μ∂∑1I0.65-1.35K∏πfI0.5-1.5K& < £ ∫ ª © ï º Ω ê ë æ Æ1øö¿¡& ́¥¬E`π√&ƒ©ïô≈ê¿¡&êë∆¬«@»@... ≤ ́¥;ÀÃÄ1ÕŒf/xœ–—“1”√‘&2ÕŒ’÷◊ ÿŸ⁄¤^‹24xÕŒ“›’÷◊ ;1¶fifl‡CØ·‚©„Æ&‰Â@íÊÁË1’È&"5ñÍÎ'()*ÏÎÌÓ!EϤÔñÍÎÒÚÔÏÎÛÙ∑Ï&ıˆî ̃Î ̄ ̆“Ϥ 2¶fiflM ̇ ̊ ̧ ̋ ̨ˇ!∑1"*#`&ñÍ$(0Ô&ıˆî ̃Î%&'(Ï)ÎÒ* ̄+Ϥ3¶fifl!"0+,n◊-."51≠/:0&ıˆî ̃Î1Ù0ÔÏ2; n 3E#45673E8õN9í≤&¬}8õ:;∞±≤≥&"Eõ/≤<=>?@-;É=>A8õN9"Ø}¡BCDEFμ0.0991~/kWhG≤≥f0.0705~/kWh;H...3EI"F=>JK& LMN≤≥c&100MW/200MWh673ExŒ¬OPxŒ8õN9¥}f600Ö~/x;≤≥‡&¬OP1xŒ8õN9ÿÉÊ√f426Ö~/x;Qn"RAë"F≤ŒSTUkV+ìQn"R0W3E≤ŒX:zY†Z:¶ß#8õ[\/"F=>])^I&-_`})Ω)a}bcı‰&d% ̇e"õf ̆2g/8õ"õ;h55i#jk}¡B3Ewlmn0.3~/kWho‡pq&r¢"st’uvw6000Rx8õ ́Ÿ ̋w80%ñÍ#Îyz"òÏÎ{|"EÏÎ E"}ÏÎ~'(ÏÎ ̄Ä"ÅÏ; n zÇ#zÇùf"RÉp1ÑrºΩ&Ö∑ÉÜáàâäãıäÉpå"Fçé≠F1ÑᤇCèê/ëzÇ=>A+^åZí©«πì1FŒñî0Eò+^&ÀÃÄïñóò`ôcöõ&zÇú¢ÁËìùûb¤üj†nc°¢ï£Ç§•&‡C¶ª6™ßØ·ôc„Æå+,óc!∑1ÊÂçg&zÇ@‹:∑01-®©™ : ́ ̈;Ñ‘î ̃# 1)Ñ‘î ̃≠Æô—“=>#î ̃Ø∞ïÆZ=>ô±P1Î≤O≥Ï&≠¥=>1Îμ∂5∑Ï&«åØ∞ï/ë=∏ ̋ ̨ˇ1-_Aπ™&î ̃Î∫ ̄EòÏ2 2)+,ªºΩæø=>å¿¡„Æ=∏¬Ô#√!΃≈0ÔÏÎ∆«"}ÏÎ]» ̄+Ï&... ÎÀΩÔÏ&ÃÕòŒÎûœ'(Ï2 3)Ω–—Ø·“”&Ø∞ï‘’"÷eõÎU$◊Ï 4)ú¢ ̨ˇ&6EÿP&—“ÁËŸì1⁄¤’È&î ̃΋›OÏÎfifl‡·Ï2 -50%-40%-30%-20%-10%0%10%2023/52023/72023/92023/112024/12024/3!"#$%&'()*300 !"#$%&'()*+,-./01- 2 - 11345615)¬Ô©ïú¢∏A”f‚„&î ̃΋≥OÏÎøø0ÔÏΉ40ÔÏÎÒÂ0ÔÏÎÊÁ+,ÏÎâ◊'(Ï2 6)"5–—ËÈçÍ@‹ ≤&—“ÁË@‹ÎÏ&î ̃ÎÌ ̆'(ÏÎÓÔ ̄+ÏÎÒ ̄+ÏÎ∫Ú ̄+ÏÎÒÛzEÏÎÙàıEÏ2¤Ø·=‚„&ˆ ̃=>ô—“0+,#HPBC)ABC)HJT ̄ºπ™&î ̃Î ̆ ̇'(ÏÎ5n%ˇÏ2 7)¡3 ̊∏ ̧õØ„Æ&‡Cî ̃ËÈ ̋[ÎÏ&Îyz"òÏÎ E"}ÏÎû› ̨HÏÎ~'(ÏÎ-(∆ÏÎ(™'(ÏΡ!'(ÏΡ‹"}Ï2 8)""#$ ̄#Î%& ̄+ÏÎ'(ÈEÏÎû∆'(ÏÎTCLU’Ï2 n ≈"#ø≈ú¢)A&24-25xeõÈ*@‹ ̨Í;#h5+,#-./0 ̨1ø,2345&67?8î≈#9:&;å7GW<@2.9GW=Ä6>mn?‰jF@a;#hA+,#BCDA>E23xÇ®@FR&? ̈EPCGE<?‰¤H.mn<jFF?‰EPCGE&Fb8≈#àâGE;#øQ+,#CZ1-3mn<bú&Ö'IJKmn?‰≈#«å≈#àâGE&ÄLxCZ7)CZ8)CZ923>ø≈wlmn∆@‹bú¤#‹ı+,#MNOø)‹ı⁄PA+)⁄PéNÚmn?‰≈#GE;QO&23xRSmn∆ôcb^c ̈úùGE;#TN+,#23xUL@=Å4GWmnjF&Ä24xôcbú&ncó^VM1y1W1X«åt’2X&YZôc?‰≈#åø[9:;QO&TN0RSÿ\]mn∆V`;#N{+,#2.65GWRSmn^<jF&@‹24x _xbú&x4$Z$0.85GW8î≈#GE;# ø+,#800MWRSÄC8îGE&`U&ab? ̈<DP}øc@a;#45+,#dUG)_eQU1/U2)_eXN2)_eXBWmnff24x;Ñ‘mn&QO_eXL>E<8î≈#9:&ó^ ̨Í;`g+,#hXø≈ôcij&k4300MWΩlme500MWmn^W23-24xjF&xk4mn?‰≈#GE¤Z"ÉìMnopmnjF&@‹ôc8î;ıˆÑ‘î ̃# 1)ø[#Î5n"[ÏÎqr'(ÏÎs6"[Ï2 2)tu/åv#Λ≈'(ÏÎÙr≈EÏÎÒw≈EÏÎìâÑúÏÎøF≈"Ï2 3)xÜ#Î0yÕÏ2 4)z{—#Îâ|'(ÏÎ}N'(ÏÎ%$'(ÏÎû~ÑúÏ2 5)≠##ÎÄ-ÑEÏÎÅygEÏ2 n ≈ê ̨wo—# ̨#=å ̈¤∂Ôìù ǤRÉÑÖ¤Ü4á}1$àπ0=å)≈ê¤âÄn±...äWãåÿç‡1≈ê2; !"#$%&'()*+,-./01- 3 - 1134561!"#$ 7289:;<3PLUS=>?1000Km@A+4CBCLFPDE ................... - 6 - 12F5DE34GHIJKL*MNOPQ ............................................ - 6 - 22 34IRSTUPQ ............................................................................ - 6 - 32VWXDYZ[\IDE]^\ .......................................................... - 8 - 1_`ab,VcDYZ[\ ...................................................................... - 9 - 2_VWDYZ[\ .................................................................................. - 10 - 3_YdefDEg\h]^ij ............................................................ - 10 - 42efkLlL\Imnop ................................................................. - 11 - 1_VWefkLIlLHq ..................................................................... - 11 - 2_F5VWefmnITUPQ ............................................................ - 12 - 52F5rDEg4stuPQ ................................................................ - 13 - 62VWXCDvHqPQ ....................................................................... - 14 - w2xyz{|}~3?lÄtuÅÇÉ ................................................ - 15 - 12xyg4sPQ .................................................................................. - 15 - 22xy34ÑÖpÜIRá ................................................................... - 17 - à2âDzäãwåYâ^kL?çéàèêëJí ..................................... - 18 - 12F5ìâîïñó .............................................................................. - 18 - 22ìòâkLHqôQ ...................................