SMM Network News: since the beginning of this year, the prosperity of the photovoltaic plate has continued to improve, and many companies in the industry have ushered in a rise in stock prices and performances. a number of analysts pointed out in the research report that the photovoltaic market demand is expected to exceed expectations this year, and the industry has entered a business cycle. And the recent market heated discussion of the "14th five-year Plan" new energy planning goal may be raised, this expectation has played a catalytic role in the market, photovoltaic plate rose sharply.
According to Societe Generale Securities, if the proportion of non-fossil energy in primary energy consumption is greatly increased, the photovoltaic industry will no longer be a cyclical industry, but a fully growing industry. Guojin Securities believes that on the basis of the solid fundamentals of the industry and the continuation of the high economy in the fourth quarter, the leading stocks of the photovoltaic plate have broad room to rise. Under the background of the superposition of multiple factors, photovoltaic enterprises announced production expansion plans intensively, the mood of production expansion of the whole industry chain was high, and the photovoltaic industry ushered in the tide of production expansion.
As a leading enterprise of photovoltaic integration, Jingao science and technology respond quickly, seize market and policy opportunities, constantly strengthen enterprise scale and cost advantages, and actively promote the process of production expansion. According to the announcement issued by Jing'ao Science and Technology on September 15, the company plans to invest 10.391 billion yuan to expand the integrated production capacity of silicon wafers, batteries, modules and so on.
In terms of silicon wafers, it is planned to invest 670 million yuan and 5.83 billion yuan respectively in Ningjin County and "Yunnan Hydropower Silicon processing Integrated Industry demonstration Base" to build crystal drawing workshop, wire cutting workshop and storage power building, purchase single crystal furnace, wire cutting and other ancillary equipment, invest in the construction of "annual 1GW crystal pulling and 5GW slicing project" and "annual 20GW crystal pulling and slicing project".
In terms of battery capacity, the company plans to invest 1.47 billion yuan to set up a new Vietnam project company to build an "annual 3.5GW high efficiency solar cell project", and invest 1.72 billion yuan to build a new plant and related supporting facilities in Yangzhou to build an annual capacity 6GW high efficiency crystal silicon battery production line.
In terms of components, Jingao Technology plans to use the existing land in Vietnam to build an annual 3.5GW high power module production line and supporting facilities to build an "annual 3.5GW high power module project" with a total investment of 700 million yuan.
At the same time, according to another announcement of Jingao Technology on the same day, its wholly-owned subsidiary Donghai Jingao Solar Technology Co., Ltd. (hereinafter referred to as "Donghai Jingao") has reached a strategic cooperation with New Special Energy Co., Ltd. (hereinafter referred to as "New Special Energy"). Other companies under Donghai Jingao and its affiliated companies plan to purchase 97200 tons of primary polysilicon from Suntech and its subsidiaries between October 2020 and December 2025.
The large-scale expansion of production is not only based on the broad development prospects of the industry, but also because of the current situation of sound operation. The upgrading of Jingao science and technology capacity this time is also a reflection of its continued deepening of the layout of the vertical integration industry chain. It can not only effectively improve the production capacity of efficient products, meet the market demand for efficient products, but also help it to continuously improve its market share and integrated profitability. In addition, the signing of the purchase agreement with Suntech Energy provides a favorable guarantee for the stable supply of raw materials for the company.
According to the point of view of the industry, the current photovoltaic market has entered the iterative process of component technology and rising prices in the supply chain, and as the supply gradually returns to the normal level, all links of the supply chain are bound to be affected by the integrated layout of enterprises in a period of time. In the face of changes in the photovoltaic market, enterprises with integrated layout tend to have stronger anti-risk capabilities.
Brokerage analysts said that through the vertical integration strategy, Jing'ao technology can effectively withstand the risk of demand fluctuations, at the same time, the company's cost advantage is more obvious and profitability is stronger under the integration strategy. The company's operating efficiency continues to maintain at a high level, very resilient, the company's operating efficiency will continue to improve in the long run.
2020 is the most critical year for the photovoltaic industry to move towards parity, a connecting link between the preceding and the next, as well as a year in which technological innovation is extremely active and market competition in all aspects of the industrial chain is extremely fierce. what is certain is that the integrated layout will accelerate the industry reshuffle, and the giant enterprises represented by Jing O Technology will tend to be strong.
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