Following the official announcement of the price reduction of "photovoltaic Mao" Longi Green Energy Technology Co.Ltd(601012) , on December 2, another silicon chip leader Tianjin Zhonghuan Semiconductor Co.Ltd(002129) official micro updated the silicon chip quotation, and the price of silicon chips of all sizes decreased from 0.52 yuan / piece to 0.72 yuan / piece, a decrease of 6.04% to 12.48%. Source: Tianjin Zhonghuan Semiconductor Co.Ltd(002129) official wechat
Industry insiders pointed out that with the reduction of silicon wafer price, the profit pressure of batteries and components is expected to be relieved, and can effectively promote the improvement of internal rate of return of downstream operators. The game of photovoltaic industry chain is expected to come to an end, and the inflection point of the industry may not be far away.
silicon chip faucet successively reduced quotation
Longi Green Energy Technology Co.Ltd(601012) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) as silicon chip leaders, the pricing of their products plays a wind vane role in the whole industry. On November 30, Longi Green Energy Technology Co.Ltd(601012) adjusted its official quotation for monocrystalline silicon wafers, and the price of silicon wafers of various sizes decreased by 0.14 yuan / piece to 0.67 yuan / piece, a decrease of 7.2% to 9.8%.
The quotation of Longi Green Energy Technology Co.Ltd(601012) shows that the current prices of 158mm, 166mm and 182mm silicon wafers are 5.12 yuan / piece, 5.32 yuan / piece and 6.2 yuan / piece respectively, of which the largest decrease is 182mm silicon wafers, reaching 9.75%. From the past price curve, this is also Longi Green Energy Technology Co.Ltd(601012) the first price reduction of silicon wafer since May last year.
In terms of Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , compared with the silicon wafer price in previous November, G1 silicon wafer decreased by 0.52 yuan / piece, and the quotation was 5.15 yuan / piece, a decrease of 9.1%; M6 silicon wafer decreased by 0.72 yuan / piece, and the quotation was 5.05 yuan / piece, a decrease of 12.48%; G12 silicon wafer (170) μ m) The price decreased by 0.55 yuan / piece, and the quotation was 8.55 yuan / piece, a decrease of 6.04%. The quotation for newly added M10 silicon wafer is 6.21 yuan / piece, and the quotation for newly added super large silicon wafer is 218.2mm, which is 9.22 yuan / piece.
Institutional analysts believe that the reasons for the continuous reduction of quotation of silicon material leaders are mainly due to the accumulated inventory pressure of enterprises to varying degrees and the industry's expectation of price reduction in the future industrial chain. The price reduction will help to destock and trigger a price war in the silicon wafer industry. When the price of silicon material and silicon wafer returns to a reasonable range, the operating rate of photovoltaic module and power station enterprises will gradually rise, which is conducive to the sustainable and good development of the industry.
In fact, the price reduction of the two silicon chip leaders has long been a harbinger.
On November 24, the data released by the third-party organization PV InfoLink showed that from November 22 to 28, the price of 182mm monocrystalline silicon wafer decreased by 6.8% in the Chinese market and 5.9% in the overseas market corresponding to the size of silicon wafer. Tianjin Zhonghuan Semiconductor Co.Ltd(002129) the highest price reduction of silicon wafer this time is 12.48%, which is also the largest decline in silicon wafer price this year.
industry inflection point may come
China Industrial Securities Co.Ltd(601377) believes that the current round of silicon wafer price decline is expected to be affected by the pressure of silicon wafer enterprise inventory accumulation, and the thickness of silicon wafer is increasing from 170 μ M accelerates towards the thinner 165 μ M specification switching, and the decline also reflects the price of silicon wafers with different thickness.
Longi Green Energy Technology Co.Ltd(601012) in an interview with China Securities Journal · China Securities Taurus reporter, relevant people said that the company does not have the theory of reducing prices to inventory, and technological progress is the basis of silicon wafer price reduction, and the price reduction is also to meet the market demand.
Haitong Securities Company Limited(600837) believes that the inventory pressure and inventory impairment risk of silicon chip leaders are small. Since the price rise of raw material inventory in October, leading enterprises have faced high raw material prices and have chosen to reduce the raw material cycle. Moreover, overseas sales are smooth and the ability to digest inventory is strong, which also reflects the forward-looking operation and management of leading enterprises.
Another market analyst told reporters that leading enterprises reduced the price of silicon wafers, putting pressure on their short-term profits. However, due to the simultaneous digestion of inventory, they also occupied the market accordingly. With the advent of the installation boom next year, the silicon chip faucet will also benefit from this round of price reduction.
On December 2, Wang Wei, the fund manager of Tongtai Huili hybrid fund, said that the decline in the quotation of monocrystalline silicon has a positive guiding effect on the price trend of the industrial chain. With the reduction of silicon wafer price, the profit pressure of batteries and components is expected to be relieved, which can effectively promote the improvement of internal rate of return of downstream operators. The game of photovoltaic industry chain is expected to come to an end, and the inflection point of the industry may not be far away.
Looking forward to the future, Wang Wei pointed out that in terms of industry segmentation, we can focus on the vertically integrated component enterprises in the photovoltaic industry chain, as well as the auxiliary material links that will benefit from the increase of installed capacity next year and will not be affected by the fluctuation of silicon price, such as photovoltaic adhesive film, inverter, tracking support, etc.
Tianjin Zhonghuan Semiconductor Co.Ltd(002129) the largest decrease in silicon wafer quotation is more than 12%. The "price war" may accelerate the recovery of downstream components
"Photovoltaic Mao" Longi Green Energy Technology Co.Ltd(601012) took the lead in reducing the price of silicon wafer, and the photovoltaic industry is facing the pressure of destocking
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Longji took the lead in reducing the price of silicon wafer, and the photovoltaic sector fell on hearing the wind! The rush to load at the end of the year may fail? Experts say so
(China Securities Journal)
