Signed 7.26 billion orders, the latest announcement of this polysilicon leader! The 400 billion giant has raised the price three times in two months. Has the photovoltaic year come?

Under the background of the continuous prosperity of the global photovoltaic market and the expansion and acceleration of downstream monocrystalline silicon enterprises, China’s leading polycrystalline silicon enterprise Xinjiang Daqo New Energy Co.Ltd(688303) , signed another large order with a value of 7.26 billion yuan.

Xinjiang Daqo New Energy Co.Ltd(688303) at the same time, the performance express was disclosed. In 2021, the company achieved an operating revenue of 10.832 billion yuan, a year-on-year increase of 132.23%; The net profit was 5.724 billion yuan, a year-on-year increase of 448.56% Xinjiang Daqo New Energy Co.Ltd(688303) ‘s main products are high-purity polycrystalline silicon, which is mainly used in the photovoltaic industry. The company’s downstream customers include Longi Green Energy Technology Co.Ltd(601012) , Jingke energy, Wuxi Shangji Automation Co.Ltd(603185) , Ja Solar Technology Co.Ltd(002459) , and other well-known enterprises.

It is noteworthy that the price of silicon material has continued to rise since mid January 2022. At the same time, the price of downstream silicon wafers has also been raised for many times. On Longi Green Energy Technology Co.Ltd(601012) 2 February 22, the price of monocrystalline silicon wafers was raised again, which is the third time that the company has raised the price of silicon wafers since the beginning of the year. At present, Longi Green Energy Technology Co.Ltd(601012) market value exceeds 400 billion yuan.

Some research institutions pointed out that 2022 is the great year of photovoltaic, and this year’s photovoltaic sector will be similar to last year’s new energy vehicle sector.

Xinjiang Daqo New Energy Co.Ltd(688303) signed 7.26 billion major sales contracts

On February 27, the listed company Xinjiang Daqo New Energy Co.Ltd(688303) on the science and Innovation Board announced that the company had recently signed a long polysilicon single crystal sales contract with a customer. From 2022 to 2026, a customer is expected to purchase 30000 tons of Cecep Solar Energy Co.Ltd(000591) grade polysilicon super grade wash free single crystal materials from the company, with an average of 500 tons per month.

Assuming that the price quotation of Cecep Solar Energy Co.Ltd(000591) grade polycrystalline silicon in China newly released by the silicon branch of China Nonferrous Metals Industry Association on February 23 is temporarily calculated according to the average price of 242 yuan / kg, the total sales amount is expected to be about 7.26 billion yuan (including tax). Both parties agree that the actual purchase price adopts the method of monthly negotiation, so the final sales amount may fluctuate with the market price.

Public information shows that Xinjiang Daqo New Energy Co.Ltd(688303) ‘s main products are high-purity polycrystalline silicon, which is mainly used in the photovoltaic industry and is in the upstream link of the photovoltaic industry chain. After melting ingots or pulling crystal slices, polycrystalline silicon can be made into polycrystalline silicon and monocrystalline silicon respectively, which can be used to manufacture photovoltaic cells.

According to the different silicon wafers produced downstream, high-purity polycrystalline silicon can be divided into monocrystalline silicon wafer materials and polycrystalline silicon wafer materials In Xinjiang Daqo New Energy Co.Ltd(688303) products, the proportion of monocrystalline silicon with higher purity is increasing year by year. The output of monocrystalline silicon has reached the advanced level in the first half of 2021, accounting for more than 99% of that of China’s monocrystalline silicon companies.

Xinjiang Daqo New Energy Co.Ltd(688303) downstream customers are mainly silicon wafer manufacturers, and have established long-term cooperative relations with many well-known enterprises in China’s silicon wafer field, such as Longi Green Energy Technology Co.Ltd(601012) , Jingke energy, Wuxi Shangji Automation Co.Ltd(603185) , Ja Solar Technology Co.Ltd(002459) , Trina Solar Co.Ltd(688599) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Gaojing Cecep Solar Energy Co.Ltd(000591) , etc.

Last week, Xinjiang Daqo New Energy Co.Ltd(688303) shares rose 9%, significantly outperforming the market index. Up to now, the latest market value of Xinjiang Daqo New Energy Co.Ltd(688303) is 104.4 billion yuan.

2021 net profit increased by more than 4 times year-on-year

While disclosing the above major orders, Xinjiang Daqo New Energy Co.Ltd(688303) also released the 2021 annual performance express that night, and the growth rate of net profit was significantly ahead of its peers.

Specifically, in 2021, Xinjiang Daqo New Energy Co.Ltd(688303) achieved an operating revenue of 10.832 billion yuan, a year-on-year increase of 132.23%; The net profit attributable to shareholders of listed companies was about 5.724 billion yuan, a year-on-year increase of 448.56%. The net profit after deducting non recurring profits and losses was 5.707 billion yuan, a year-on-year increase of 447.79%; The basic earnings per share was 3.25 yuan, a year-on-year increase of 371.01%.

According to the announcement, the main reasons for the growth of Xinjiang Daqo New Energy Co.Ltd(688303) performance during the reporting period are: in 2021, benefiting from the continuous promotion of the national “double carbon” policy, the overall photovoltaic market continued to grow, the production expansion and acceleration of downstream monocrystalline silicon wafer enterprises, the demand for high-quality polycrystalline silicon increased significantly, and the overall supply of high-purity polycrystalline silicon was in short supply, Therefore, the market price of polysilicon continues to rise.

During the reporting period, Xinjiang Daqo New Energy Co.Ltd(688303) existing production line maintained full capacity production. In addition, the phase III phase B expansion project was completed in December 2021 and produced 1111 tons of silicon material in that month. Therefore, the output of high-purity silicon material in the whole year was 86600 tons, an increase over the same period of last year. The silicon material market continued to be in short supply, so the company achieved an annual sales volume of 75400 tons, an increase over the same period last year, and the company achieved significant growth in performance.

silicon material prices continued to rise, and polysilicon enterprises expanded production madly

according to the data disclosed by China photovoltaic Association, the maximum increase of silicon material in 2021 was 224%, and the price of silicon material fell back to 230000 yuan / ton at the end of the year, an increase of 177% compared with the beginning of the year

Since the middle of January 2022, the price of silicon material has resumed its upward trend. According to the latest data disclosed by the silicon branch of China Nonferrous Metals Industry Association, the price range of China’s single crystal re feeding last week was 2400 Shandong Molong Petroleum Machinery Company Limited(002490) 00 yuan / ton, and the average transaction price rose to 244900 yuan / ton, with a weekly increase of 0.78%; The price range of single crystal compact is 2380 Kingenta Ecological Engineering Group Co.Ltd(002470) 00 yuan / ton, and the average transaction price rises to 242400 yuan / ton, with a weekly increase of 0.71%.

Under the background of the continuous prosperity of the photovoltaic industry, the price of silicon material has continued to rise since 2021, and the rich profits are attracting more and more enterprises to join the army of production expansion.

On February 14, Hoshine Silicon Industry Co.Ltd(603260) announced that its subsidiary Hoshine Silicon Industry Co.Ltd(603260) in central Xinjiang plans to invest 17.5 billion yuan to build a 200000 ton high-purity polysilicon project in ganquanpu economic and Technological Development Zone, Urumqi, Xinjiang. After the project is completed, the company will become one of the leading polysilicon enterprises in China. In December last year, Urumqi Municipal People’s government signed a strategic cooperation framework agreement with Hoshine Silicon Industry Co.Ltd(603260) to invest 35.5 billion yuan in the industrial integration project of silicon-based new materials, which will start construction in Urumqi ganquanbao economic and Technological Development Zone in March next year. The project will invest in the construction of silicon-based new materials, single crystal chips, battery modules, photovoltaic power generation and other projects, It is expected to be completed and put into operation in 2024.

On December 20 last year, Xinjiang Daqo New Energy Co.Ltd(688303) announced that the company plans to invest 33.25 billion yuan in Baotou city to build 300000 t / a high-purity industrial silicon project, 200000 t / a organic silicon project, 200000 t / a high-purity polysilicon project and 21000 T / a semiconductor polysilicon project.

Xinjiang Daqo New Energy Co.Ltd(688303) said that on the one hand, the investment and construction of the project will expand the production capacity of high-purity polysilicon, drive the increase of product output, further consolidate and expand the market share of the company’s high-purity polysilicon business, on the other hand, it is conducive to further optimize the company’s main business structure and realize the diversification of the company’s product structure.

On December 16 last year, Xinyi solar energy announced that it would invest 200000 tons of silicon material production capacity in Qilin District, Qujing, Yunnan Province to cross the border into the polysilicon field.

On December 14 last year, Jiangsu Sunshine Co.Ltd(600220) Group signed a framework cooperation agreement on the whole industry chain project with Bayannur Municipal People’s Government of Inner Mongolia and wulatqian banner people’s government Jiangsu Sunshine Co.Ltd(600220) group plans to invest in the construction of 100000 tons of polycrystalline silicon, 15gw single crystal pull rod, 15gw battery module and photovoltaic power station projects in Ulat Front Banner, with a total investment of 35.15 billion yuan.

organization: strong potential demand for photovoltaic

silicon industry branch announced the latest price of silicon material. The average price of silicon material increased by about 1.8 yuan / kg, and the average price of single crystal compact material was 242.4 yuan / kg, an increase of 0.71% over last week

In terms of silicon wafers, on February 22, the leading enterprise Longi Green Energy Technology Co.Ltd(601012) again raised the price of monocrystalline silicon wafers. Compared with the previous quotation, the price of silicon wafers of different sizes increased by 0.1 yuan / piece to 0.12 yuan / piece, with an average increase of 1.9%. This is also the third time that Longi Green Energy Technology Co.Ltd(601012) raised the price of silicon wafer since the beginning of the year. Compared with the first quotation of the year on January 16, the price of silicon wafer increased by nearly 6%.

In terms of battery chips, Tongwei announced the latest quotation of single crystal perc battery, and the prices of 166, 182 and 210 sizes increased by 0.02 yuan / W month on month.

Western Securities Co.Ltd(002673) analyst Yang Jingmei said that the prices of silicon materials, silicon chips and battery chips have increased one after another, and the potential demand for photovoltaic is strong. Since 2022, although new silicon material production capacity has been released, the price of silicon material has increased instead of decreasing, mainly due to the strong potential demand for photovoltaic and full orders from component factories. It is estimated that the effective capacity of silicon material in 2022 will be about 800000 tons, corresponding to the installation demand of 230240gw, with a year-on-year increase of about 50%, which is the largest year of photovoltaic installation in recent years. It is optimistic about the prospect of photovoltaic installation in 2022.

It is worth mentioning that in January 2022, China’s photovoltaic installed capacity exceeded market expectations, and the country’s new photovoltaic installed capacity exceeded 7gw, a year-on-year increase of 200%. Among them, the newly installed capacity of distributed photovoltaic is 4.5gw, with a year-on-year increase of 250%; The new installed capacity of centralized photovoltaic is 2.5gw, with a year-on-year increase of 150%.

As of February 20, central enterprises and state-owned enterprises such as CNNC and China resources have released 45gw of photovoltaic module procurement projects, which has exceeded the annual data of 2021, with the highest bid winning price of 1.96 yuan / W. Lin rongyun, an analyst at Huafu securities, said that this further confirms that 2022 is the year of photovoltaic, This year’s photovoltaic sector will be similar to last year’s new energy vehicle sector.

last week, the photovoltaic index rose 6.4%, while the Shanghai stock index fell 1% in the same period Wuxi Shangji Automation Co.Ltd(603185) , Jolywood (Suzhou) Sunwatt Co.Ltd(300393) all increased by more than 21%, Trina Solar Co.Ltd(688599) , Shouhang High-Tech Energy Co.Ltd(002665) , Wuxi Autowell Technology Co.Ltd(688516) all increased by more than 18%, Sungrow Power Supply Co.Ltd(300274) , Shuangliang Eco-Energy Systems Co.Ltd(600481) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , etc. all increased by more than 10%

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