Recently, the photovoltaic industry chain has frequently received tens of billions of orders, mainly focusing on silicon materials and silicon wafers.
Wen Fang, an analyst in the photovoltaic industry of Longzhong Information, said in an interview with a reporter from Securities Daily that at present, the output of silicon materials is completely enough for components, but silicon wafers are still in short supply. However, with the continuous release of silicon production in the future, the problem of market supply and demand will be alleviated, the price of silicon will also be lowered, and the profit distribution of the overall industrial chain is expected to be adjusted.
A number of companies increased their performance in the third quarter.
According to the data, from the year-on-year increase of the net profit returned to the mother, among the 12 listed companies, the largest year-on-year increase was Yuneng Technology in the frequency conversion link. According to its third-quarter performance forecast, the company expects to achieve a net profit of 250 million yuan to 280 million yuan in the first three quarters, a year-on-year increase of 330% to 382%.
Yuneng Technology said that in 2022, the photovoltaic industry will continue to improve, and the high prosperity will promote the company's development. During the reporting period, the company continued to carry out global business layout and continuously deepened the European and American markets. At the same time, through technological innovation, the downstream customers of the company's micro inverters, intelligent control disconnectors and other products have sufficient orders, which makes the company's operating income and profits grow rapidly.
Hemai, a listed company that also benefits from the inverter link with sufficient downstream orders, expects to achieve a net profit of 340 million yuan to 360 million yuan in the first three quarters, up 65,438+083.59% year-on-year to 65,438+098.52%. According to the company, with the progress of photovoltaic inverter technology, the overall development trend of photovoltaic industry is good, and the global marketing network will continue to be laid out in the future, and the markets in America, Europe and Asia will be deeply cultivated.
Under the high prosperity of the industry, many listed companies in all aspects of the photovoltaic industry chain have achieved a year-on-year increase in net profit. Among the 12 photovoltaic listed companies that have disclosed the forecast data for the third quarter, in addition to the above two inverter companies, listed companies in various fields such as silicon wafers, battery components and processing equipment also achieved year-on-year growth in performance. For example, Trina Solar expects its net profit in the first three quarters to be 2.03 billion yuan to 2.49 billion yuan, up 75.85% year-on-year to114.92%; TCL Central expects to achieve a net profit of 4.93 billion yuan to 5.07 billion yuan in the first three quarters, a year-on-year increase of 78.53% to 83.60%.
Benefiting from the rising prices of silicon materials, silicon wafers and battery components, the profits of all links in the photovoltaic industry have increased substantially this year. Judging from the ring data, the performance of many photovoltaic companies grew strongly in the third quarter.
Take Yuneng Technology as an example. The company achieved net profit of 30.72 million yuan and 98.08 million yuan in the first quarter and the second quarter respectively. It is estimated that the net profit of returning to the mother will nearly double in the third quarter.
Longji Green Energy said that during the reporting period, its foreign sales of silicon wafers and components increased year-on-year, and investment income and exchange income increased significantly, achieving a substantial increase in operating performance.
Tongwei Co., Ltd., a leading silicon material enterprise, expects to achieve a net profit of 265.438+04 billion yuan to 265.438+08 billion yuan in the first three quarters, up 259.98% year-on-year to 266.75438+0%. The company expects that the net profit returned to the mother in the third quarter will increase by nearly 30% month-on-month, and the net profit returned to the mother in a single quarter will reach10 billion yuan.
In this regard, Wenzhang, an analyst in the photovoltaic industry of Longzhong Information, said in an interview with the Securities Daily that due to the mismatch between supply and demand this year, the price of upstream silicon materials continued to run at a high level, and the performance of related companies was outstanding, especially since the third quarter. Corporate profits have increased substantially. In addition, supported by the prosperity of the industry, downstream silicon wafers and battery components also benefit from the impact of rising prices and capacity release.
In Fang's view, the profit of photovoltaic industry chain has not been successfully transmitted, and the downstream demand still supports the price of silicon materials. If the price of silicon wafers fails to drop, the overall profit of the industry will still accumulate in silicon materials.
The industrial chain frequently has tens of billions of orders.
Not only has the performance been outstanding in the first three quarters, but the recent high prosperity of the photovoltaic industry chain has also continued, and silicon materials and wafer companies have successively signed big orders.
1June/August 18, Daquan Energy announced that the company and its wholly-owned subsidiary, Inner Mongolia Daquan, recently signed a Silicon Material Purchase Contract with a customer, which stipulated that a customer is expected to purchase 46,200 tons of solar-grade primary polysilicon from the company and Inner Mongolia Daquan from 2023 to 2027. According to the latest PV Infolink (106655)
Just five days ago, Daquan Energy just disclosed another big order. The customer has agreed to purchase polysilicon155,300 tons from 2022 to 2027, and the estimated purchase amount is about 47.056 billion yuan.
On the evening of September 29th, Liang Shuang Energy Conservation issued two announcements in succession, announcing that it had signed a long-term purchase order for polycrystalline silicon dense materials with Xinte Energy and its subsidiaries and Shanghai East Hope Energy.
According to the contract, from 2023 to 2030, Liang Shuang Energy will purchase 654.38+0.5 million tons of polysilicon from Xinte Energy and its subsidiaries; From 2022 to 2026, it purchased 66,800 tons of polysilicon from Shanghai East Hope Energy. According to the latest average transaction price of polysilicon contracts announced by PV Infolink (September 28, 2022), the total amount of the two procurement contracts is estimated to be 65.69 billion yuan.
This is the third big order for silicon materials from Liang Shuang Energy Conservation this year. In July this year, Liang Shuang Energy Conservation signed 222,500 tons and 20 1.9 million tons of polysilicon material procurement agreements with Tongwei and Xinte Energy respectively, with contract amounts reaching 56 billion yuan and 58.47 billion yuan respectively.
In this regard, Shi, an analyst in the photovoltaic industry of Shanghai Nonferrous Network, told the Securities Daily reporter that many enterprises are mainly worried about problems in the procurement of silicon materials, and signing long orders is generally to lock the quantity without locking the price. However, the silicon market depends on the rush to install at the end of this year or early next year, and there will be surplus at the end of this year or early next year. In the future, there will be a pattern that high-quality polysilicon is still in short supply and low-quality products are in surplus. Therefore, it is also a long-term consideration for enterprises to lock in high-quality long-term orders upstream.
Not only is the silicon market hot, but the downstream demand for silicon wafers is also very strong. On June 10, CNC announced that its wholly-owned subsidiaries Hongyuan New Materials (Baotou) Co., Ltd. and Hongyuan New Materials (Xuzhou) Co., Ltd. signed contracts with a new energy technology (Quzhou) Co., Ltd. and a new energy technology (Taizhou) Co., Ltd. on the sales of monocrystalline silicon wafers. It is estimated that the sales amount in 2023-2024 is 6.204 billion yuan (including tax).
At the same time, the above four parties also signed a contract on the sales of N-type silicon products. In 2023, the company will purchase 300 million pieces of N-type silicon products from its subsidiaries, and the estimated sales amount in 2023 is 365,438+92 million yuan.
At present, the supply of silicon materials is sufficient and there is a surplus. This year, the production capacity of more than 600,000 tons will be doubled and put into production one after another. At the end of the year, the production capacity exceeded 6.5438+200,000 tons, and it will double to 2.4 million tons next year. Lv Jinbiao, co-secretary general of SEMI China Photovoltaic Standards Committee, told the Securities Daily that 90% of the supply of silicon materials is locked in long orders, leaving less than 1 10,000 tons for retail every month. The demand for retail transactions pushes up the price, and it also pushes up the pricing of long orders month by month.
However, Fang also said that the demand was strong in the fourth quarter, but the supply increased even more. It is expected that the price of silicon materials will drop from 1 1 to 65438+2 months.