Broker Research List Released! Wind Power, Photovoltaic, and Storage Chip Sectors Show High Interest

Wind data shows that since the beginning of the year, securities firms have conducted over 940 investigations into A-share listed companies, mainly focusing on electronics, machinery, electrical equipment, chemicals, and other industries. Among them, 25 listed companies have been visited by no less than 30 securities firms.

It is worth noting that the hot stocks in wind power, photovoltaics, and other sectors remain popular. With recent storage price increases continuing to ferment, the investigation interest in storage chips remains high.

Specifically, Daikin Heavy Industry has received the highest attention from securities firms this year, with over 90 firms conducting investigations; Tianshun Wind Power, Jinko Solar, Huqin Technology, and Nape Mining Machinery have also been investigated by no fewer than 50 firms; companies like Jingzhida, Ninebot, Winsun Information, and Hailianxun also attract significant attention.

Data source: Wind (as of March 19, 2026)

Wind Power and Photovoltaics Lead in Popularity, Power Equipment Becomes a Key Focus of Investigations

Recently, power equipment and new energy sectors represented by wind power, photovoltaics, and grid equipment have continued to be hot areas for securities firms’ investigations. Recently, the “14th Five-Year Plan” outline was released, mentioning “strengthening the construction of new energy infrastructure” and emphasizing “promoting the safe, reliable, and orderly replacement of fossil fuels with non-fossil energy sources,坚持风光水核等多能并举，实施非化石能源十年倍增行动” (pursuing multiple energy sources including wind, solar, water, and nuclear, and implementing a ten-year plan to double non-fossil energy).

In the wind power sector, Daikin Heavy Industry is undoubtedly the “popular king,” leading the market with investigations from 95 securities firms. Since March, Daikin Heavy Industry has been investigated twice; during these investigations, the company stated that its revenue structure is mainly driven by overseas business. By the end of 2025, the company’s total overseas order backlog exceeds 10 billion yuan, mainly scheduled for delivery over the next two years, covering offshore wind farms in the North Sea, Baltic Sea, and other offshore wind projects.

Similarly, Tianshun Wind Power, also in wind equipment, received intensive investigations from 58 firms. During investigations, Tianshun Wind Power noted that after the Russia-Ukraine war, Europe’s energy shift has clearly moved toward offshore wind (offshore wind power). Over the next decade, with the addition of local European, Chinese, and Southeast Asian supply chains, Europe’s offshore wind prospects will become increasingly certain. Additionally, companies like Zhenjiang Shares and Taisun Wind Energy, related to wind power, have also been investigated by more than 10 firms.

The photovoltaic sector remains hot as well. Jinko Solar and Dico Co., Ltd. were investigated by 52 and 42 firms respectively. Companies along the photovoltaic industry chain such as Trina Solar, Ares, and Daqo New Energy also received attention from over 20 firms. The focus of investigations includes technological iteration, overseas market expansion, and industry chain price trends.

In the grid equipment field, Siyuan Electric, Huaming Equipment, and Haixing Electric have been investigated by more than 10 firms. With the “14th Five-Year Plan” period’s State Grid Corporation’s projected fixed asset investment of 4 trillion yuan, the future growth potential of related companies has attracted strong interest from institutions.

Storage Chips “Keep Rising,” Multiple Concept Stocks Gathered for Investigations

Storage chips have also become a recent focus of securities firms’ investigations. As the semiconductor cycle gradually warms up and downstream demands such as AI and high-performance computing drive growth, the industry’s prosperity has significantly rebounded.

Since the beginning of this year, global storage chips have entered a new round of price increases. On March 18, cloud providers like Alibaba Cloud and Baidu Smart Cloud simultaneously raised prices for AI computing power and storage products, with increases of up to 34%. Recently, OPPO and Vivo also announced price hikes for mobile phones.

Wind data shows that multiple storage chip and related concept stocks have attracted high attention from securities firms. Institutions generally focus on storage chip price trends, domestic substitution progress, and companies’ expansion into emerging fields.

Among them, Dongxin Co., Ltd. has been investigated 7 times this year, with a total of 38 securities firms paying attention, making it one of the most investigated companies in the storage chip field. As a relatively pure storage chip design company in the A-share market, its SLC NAND products are widely used in industrial and communication fields. Dongxin stated during investigations that its 1xnm flash memory products have achieved mass production, with continuous design and process optimization, significantly improved product reliability, and sales have been realized.

Jiangbolong and Baiwei Storage, representing storage modules and packaging/testing fields, have also been investigated multiple times this year, attracting many securities firms. Additionally, companies like Huqin Technology, Aisen Co., Ltd., and Hengkun New Materials, due to their key positions in the industry chain, have also received intensive investigations.

Securities Firms Generally Optimistic About the Future

Recently, many securities firms have held strategy meetings or released spring strategies, remaining generally optimistic about the market outlook.

CITIC Securities’ chief A-share strategist, Qiu Xiang, believes that the spring A-share market is at a critical juncture. The next phase’s focus will shift from valuation to profit margins. Low valuation and pricing power are the two most important factors; low valuation is the strongest shield. Valuation is better than overvaluation, value is better than growth, and large caps outperform small caps. In terms of allocation, they advocate firmly focusing on China’s advantageous manufacturing and pricing power.

Zheshang Securities believes that as the Shanghai Composite Index prepares to rise, industries are expected to undergo a more comprehensive revaluation. The industry allocation strategy is to “balance new and old energy, and add cyclical consumption.” They suggest focusing on four main directions: 1) power equipment benefiting from “computing and electricity synergy” and supply-side clearing (photovoltaics, wind power, lithium batteries); 2) under the HALO trading environment, traditional industries may see value revaluation, including power, telecommunications services, glass fiber, general steel, coke, gas, and coal mining, as well as telecommunications, power, and grid equipment; 3) internal diffusion of cyclical commodities, paying attention to relatively lagging basic chemicals, agriculture, forestry, animal husbandry, and fishery; 4) in consumer segments, such as biomedicine (innovative drugs) and consumer services.

Shenwan Hongyuan believes that confidence should be maintained. The first half of this year is unlikely to be the peak of this round of market, and a new rally may start in the second half of 2026, extending into the first half of 2027. This will be a market driven by nonlinear changes in fundamentals and accelerated inflow of incremental funds.

Layout: Wang Yunpeng

Proofreading: Xu Xin