光伏设备专题研究：技术变革正当时，光伏设备前景可期

投资要点 ➢ ➢ 一、工艺技术迭代&装机规模提升驱动光伏设备快速发展.............................................................41.光伏设备位于光伏产业链中游.....................................................................................................................42.光伏技术快速迭代，技术升级驱动设备更新换代........................................................................................53.受益技术迭代与装机规模提升，光伏设备需求高景气.................................................................................8二、技术变革正当时，把握核心生产设备增量机会......................................................................91.硅料设备：多晶硅还原炉为主工艺核心生产设备........................................................................................92.硅片设备：单晶炉和切片机价值量占比高.................................................................................................103.电池片设备：新技术带来设备新增量........................................................................................................124.组件设备：串焊机和层压机为核心设备....................................................................................................15三、投资建议.............................................................................................................................181.捷佳伟创....................................................................................................................................................182.奥特维........................................................................................................................................................183.晶盛机电....................................................................................................................................................194.迈为股份....................................................................................................................................................20五、风险提示.............................................................................................................................21 ...............................................................................................................................................4...........................................................................................................................................5........................................................................................................................................6...............................................................................................................................................7................................................................................................................................7...........................................................................................................................................9.......................................................................................................................10.......................................................................................................................10.............................................................................................................................................10...........................................................................................................................................11...........................................................................................................................................11..................................................................................................................................................12................................................................................................................................12.....................................................................................................................12.............................................................................................................................13.......................................................................................................................................14...........................................................................................................................................14...........................................................................................................................................14 ..................................................................................................................................................15.................................................................................................................................................15..................................................................................................................................15..................................................................................................................................................17................................................................