In a change from last week's downturn, this week (February 14-February 18) the photovoltaic equipment sector rose by 5.46%. Among them, the highest increase was JA Technology, which rose by 11.97% in the week, followed by Sungrow. The increase was 9.56%, and the increase of Foster and Follett was more than 6%.
At the industry level, polysilicon companies have strong profit expectations, and many companies have expanded production. The overall quotation level of the silicon material segment continued to rise slightly, and the transaction price also rose slightly. Follett, a leading photovoltaic glass company, has experienced twists and turns in buying mines and recycling. The company announced that it has terminated the major asset program and continued to trade, and then received an inquiry letter from the Shanghai Stock Exchange.
The performance of silicon material enterprises has increased significantly
Last year, the silicon material companies made a lot of money. Tongwei's latest performance forecast shows that the company achieved operating income of 66.602 billion yuan in 2021, a year-on-year increase of 50.68%; net profit attributable to shareholders of listed companies was 8.203 billion yuan, a year-on-year increase. 127.35%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 8.382 billion yuan, a year-on-year increase of 248.03%. At the end of 2021, the company's total assets were 88.301 billion yuan, and the owner's equity attributable to shareholders of listed companies was 37.470 billion yuan, an increase of 37.4% and 22.62% respectively over the end of the previous year.
According to Tongwei’s analysis, the reasons for the changes in the company’s performance are as follows: In 2021, benefiting from the growth of downstream demand, the supply of high-purity crystalline silicon products will be in short supply, and the market price will increase significantly year-on-year. %, the profit has increased significantly. At the same time, the company's business segments such as solar cells and feed have been operating steadily, maintaining strong market competitiveness.
This year's trend of embracing silicon as king has not changed, and photovoltaic companies are still expanding their production significantly in the near future. On February 14, Hosun Silicon issued an announcement. Based on the current situation of industry development and the growing market demand in the future, combined with the development strategic plan of Hosun Silicon, in order to further expand the company's entire industrial chain layout and enhance the company's competitive advantages, the company plans to pass a wholly-owned subsidiary. Hesheng in the middle of the company is investing and constructing the "Industry Integration Project of Silicon-based New Materials of Xinjiang Central Hesheng Silicon Industry Co., Ltd. (an annual output of 200,000 tons of high-purity polysilicon project)" in Ganquanbao Economic and Technological Development Zone (Industrial Zone), Urumqi City, Xinjiang. The estimated total investment of the project is 17.5 billion yuan.
The construction content of the project is 200,000 tons/year polysilicon plant, 100,000 tons/year caustic soda plant, as well as supporting public works and auxiliary works. The main buildings are the main substation, cold hydrogenation synthesis, rectification, tail gas recovery, freezing station, circulating water station, reduction workshop, post-processing workshop, and silicon powder warehouse.
Hoshine Silicon said that this foreign investment aims to further expand and improve the company's layout in the whole industry chain of silicon-based new materials, and enhance the company's industrial scale and comprehensive market by virtue of its rich industry experience, technology accumulation, scale advantages and customer resources. competitive strength. This foreign investment implements the company's overall strategic plan to further expand to the downstream of industrial silicon, lays a foundation for the rapid development of the company's photovoltaic new energy business, and is conducive to the company's creation of a new profit growth point.
In addition, TBEA has recently increased foreign investment. On February 16, 2022, the new energy company controlled by TBEA signed the "1GW Photovoltaic Power Generation and Supporting Project Investment Framework Agreement" with the Hongdong County People's Government and Huaxiang Co., Ltd. in Hongdong County, Linfen City, Shanxi Province. The total investment of the project is 4.3 billion yuan, supporting the photovoltaic support production project.
Follett receives a letter of inquiry from the Shanghai Stock Exchange
The purchase of mines by Follett, a leading photovoltaic glass company, is still unsettled. Previously, Follett disclosed that the transaction was a major asset reorganization and was subject to repeated inquiries from regulators. On February 14, Follett declared that it did not constitute a major asset reorganization, and immediately terminated the major asset reorganization process, but will continue to advance the transaction.
Subsequently, the Shanghai Stock Exchange reissued an inquiry letter to Follett, requiring it to adjust the relevant arrangements based on the transaction price and decide the specific process and important time points of the termination of the reorganization process, etc., to explain whether the information disclosure of the previous reorganization progress was untimely and inaccurate. ; Verify whether there are undisclosed benefit arrangements for relevant parties, and whether there are circumstances such as avoiding major asset restructuring.
In terms of industry policies, recently, eight departments including the Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "Implementation Plan on Accelerating the Comprehensive Utilization of Industrial Resources". Promote the R&D and industrial application of emerging solid waste comprehensive utilization technologies such as waste photovoltaic modules and wind power blades, increase the R&D and promotion of comprehensive utilization of complete sets of technical equipment, and explore emerging solid waste comprehensive utilization technology routes.
In the polysilicon market, upstream prices continued to fluctuate, while downstream prices were limited. According to PVInfolink's analysis, this week's upstream inquiries and transactions were relatively active. In order to meet downstream demand, wafer fabs actively purchased production demand and continued to increase wafer pulling operations. The overall quotation level of the silicon material segment continued to increase slightly. The high quotation price was pushed up to RMB 244-247 per kilogram or even above. The transaction price also rose slightly, and the average price rose to about RMB 240 per kilogram. In terms of supply, the increase in the actual supply of silicon materials is limited. Although the supply in February has slightly increased month-on-month, at present, the overall new supply of silicon materials in the first quarter of this year is compared with the new demand in the wafer pulling process. Said, still not enough. The negotiation and order signing of silicon material in March started one after another, and it is expected to enter a more intensive negotiation cycle next week.