电力行业出海专题：海外市场增长潜力大，中企奋楫扬帆正当时-240819-银河证券-40页(1)

⚫⚫⚫⚫⚫⚫-10%-5%0%5%10%15%20%300⚫北美南美&中美欧洲独联体中东非洲亚太亚太（不含中国）中国全球-2.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%-2.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%-2.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%-4.0%-2.0%0.0%2.0%4.0%6.0%8.0%10.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%10.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%113,507.8105001000150020002500300020202021202220232024/kWh/kWhLNG/kWh01,0002,0003,0004,0005,000200220032004200520062007200820092010201120122013201420152016201720182019202020212022202321=2,254.798001000120014001600180020152016201720182019202020212022202305010015020025030035020221202232022520227202292022112023120233202352023720239202311202412024320245HBA//310“”10_(china-embassy.gov.cn)45%46%47%48%49%50%51%52%53%050100150200250300350400450202120222023SEC6870727476788082848.99.09.19.29.39.49.59.62021202220230510152025303540452023E2030E41=7.240.0000.0050.0100.0150.0200.025Round1Round2Round3Round4➢-30%-20%-10%0%10%20%30%020000004000000600000080000001000000012000000201220132014201520162017201820192020202120222023GDPGDPGDPYoYGDPYoY51=1.30➢➢30%35%40%45%50%55%60%65%0%5%10%15%20%25%123456789101112131415RAP/CAPEX/CAPEX2732492742666361656447476163208216232233109140138138-28-54-43-22-2000200400600800100020212022202320240%5%10%15%20%25%30%35%40%45%SESNENCO➢➢➢➢