Benefiting from the high-profile demeanor of the photovoltaic industry, the upstream glass manufacturers' performance is skyrocketing. Luoyang Glass and Ancai Hi-Tech issued a pre-increase announcement yesterday. Among them, Luoyang Glass expects its annual net profit to increase by 4.56 to 5.3 times compared with the same period last year, deducting non-net profit by 23-26 times, and Ancai Hi-Tech expects its annual net profit to increase 5 times compared with the same period last year.
Luoyang Glass: the fourth quarter performance soared 28 times compared with the same period last year.
Luoyang Glass announced that it is expected to achieve a net profit of 300 million yuan to 340 million yuan in 2020, an increase of 456% to 530% over the same period last year, and 23-26 times the non-net profit deducted from the same period last year. Benefiting from the strong growth of photovoltaic market demand, the company's photovoltaic glass product sales and prices showed a double growth. Adhere to the market orientation, adjust the product structure, and increase the proportion of high value-added products.
According to the data, the company's net profit in the first three quarters was 82.01 million yuan, thus calculating that the net profit in the fourth quarter was at least 218 million yuan, a month-on-month increase of 2.3 times and a year-on-year increase of 27.68 times.
According to the China News, the company's photovoltaic glass business accounts for 85%, and its photovoltaic glass products are rich in structure, including 1.6mm-4.0mm series of ultra-white high transmittance solar photovoltaic module cover plate and backplane glass. The company's three new energy companies are located in East China, where photovoltaic module manufacturers are relatively concentrated, and have established a good cooperative relationship with major photovoltaic module manufacturers, with obvious location advantages.
Ancai Hi-Tech: the annual performance has increased fivefold in advance and accelerated in the fourth quarter.
According to Ancai Hi-Tech, net profit in 2020 is expected to be about 120 million yuan, an increase of about 503% over the same period last year. According to the data, the company's net profit in the first three quarters was 61.39 million yuan. According to this, the net profit in the fourth quarter was at least 58.6 million yuan, an increase of 111% over the previous year, and a loss of 29.65 million yuan in the same period last year.
The third quarterly report shows that Ancai Hi-Tech Photovoltaic Glass business accounts for more than 40% of the revenue. For the reasons for the huge increase in performance, Ancai Hi-Tech said that the profitability of photovoltaic glass business has been significantly enhanced. 1, the company's 900t/d photovoltaic glass project has been in stable operation in the first quarter of 2020, with an increase in production capacity compared with the same period last year; 2, through the technological upgrading of the production line, the production and sales of high value-added products have increased. 3. The market demand for photovoltaic glass has been strong since the second half of 2020, and the price of the product has risen.
The improvement of double glass permeability further drives photovoltaic glass to maintain high prosperity.
According to Cinda Securities, the new installed capacity of domestic photovoltaic is expected to reach 50GW in 2021, and the installed capacity of overseas is 110GW, driving the global 160GW to be installed, with an increase of about 30% over the same period last year. Photovoltaic glass enterprises benefit from volume rise and stability, and their performance maintains a high growth rate.
Among them, the permeability of double glass increases, which further drives the photovoltaic glass to maintain a high boom. Compared with single glass module, double glass module has obvious advantages in zero water permeability, excellent mechanical properties, less hot spot damage and lower assembly temperature, which can increase the service life of photovoltaic module for 5 years. According to the forecast of the Photovoltaic Association, the permeability of double glass modules is expected to reach 50% by 2022. According to the global total installed capacity of photovoltaic (160GW) in 2021, the total demand for photovoltaic glass is 11.3291 million tons, an increase of 33% over the same period last year.
In terms of supply and demand, the gap between supply and demand of photovoltaic glass expanded in 2020, driving the price of 3.2mm photovoltaic calendered glass to 46 yuan / square meter, the highest level in history. Looking forward to 2021, Cinda Securities expects that the new glass capacity replacement policy will have a limited impact on market supply in 2021, and the capacity gap of photovoltaic Calendering glass will narrow in 2021, but the supply and demand will continue to be tight.
Cinda Securities focuses on the target Qibin Group (float glass leader, with production capacity accounting for 11% of the country), Xinyi Solar Energy (the world's largest photovoltaic glass manufacturer, with a market share of more than 30%, and is expected to add four new photovoltaic glass production lines in 2021), Fullett (the world's second largest photovoltaic glass manufacturer, with 2021 expected to increase production capacity by 4600 t), Nanbo A (plans to greatly expand the photovoltaic glass production line in the next 2 years. Sign an order of 6.5 billion photovoltaic glass with Photovoltaic leading Longji Co., Ltd.