On the first trading day after the Qingming Festival, the three major stock indexes continued to fluctuate and adjust. As of midday closing, the Shanghai index fell 0.22% and the gem index fell 1.33%.
Affected by the bad news, "photovoltaic Mao" Longi Green Energy Technology Co.Ltd(601012) fell by more than 5% in the morning, driving the collective weakness of relevant stocks, Trina Solar Co.Ltd(688599) , Hangzhou First Applied Material Co.Ltd(603806) and other declines took the lead.
On the other hand, the real estate and banking sectors rose against the trend again and became the main force to protect the market.
photovoltaic giant suddenly suffered bad luck
The decline of photovoltaic sector today is related to a piece of news. On April 5, "photovoltaic Mao" Longi Green Energy Technology Co.Ltd(601012) announced that on April 1, the company received the letter of Yunnan Provincial Development and Reform Commission on clarifying Longi Green Energy Technology Co.Ltd(601012) relevant electricity prices, informing that according to the requirements of relevant national departments to clean up the preferential electricity price policies, the preferential electricity price policies and measures enjoyed by the company in Yunnan Province will be cancelled. From September 1, 2021, all electricity prices of the company will be formed through electricity market trading, Direct settlement with power grid enterprises.
The announcement shows that by the end of 2021, Longi Green Energy Technology Co.Ltd(601012) has formed about 67gw of crystal drawing capacity and 57gw of slicing capacity in Yunnan Province. The construction project of Lijiang phase III with an annual output of 10GW monocrystalline silicon rod, Qujing phase II with an annual output of 20GW monocrystalline silicon rod and 30GW monocrystalline silicon wafer and Qujing with an annual output of 30GW monocrystalline cell have not been started or put into operation.
Longi Green Energy Technology Co.Ltd(601012) said that by the end of 2021, the company's slicing capacity in Yunnan accounted for about 54% of the company's total capacity. Since the company's investment projects in Yunnan Province can no longer implement the electricity price agreed by both parties in the original cooperation agreement, the production cost of investment enterprises in Yunnan Province will be increased to a certain extent. The electricity charge accounts for about 15% of the whole process processing cost of silicon wafer, which will have a certain adverse impact on the company's profits.
Since the beginning of this year, Longi Green Energy Technology Co.Ltd(601012) has raised the price of monocrystalline silicon wafer for five consecutive times. The price of monocrystalline silicon wafer of different specifications has increased by 7.7% - 8.9%, and the price of some silicon wafer products is close to the highest price last year. According to the latest quotation on Longi Green Energy Technology Co.Ltd(601012) official website, 165 μ The latest quotation of p-type M6 (166 / 223mm) silicon wafer with thickness of M is 5.55 yuan / piece; one hundred and sixty-five μ The latest quotation for p-type (158.75 / 223mm) silicon wafer with thickness of M is 5.35 yuan / piece.
Longi Green Energy Technology Co.Ltd(601012) actively invest abroad. In March this year, Longi Green Energy Technology Co.Ltd(601012) disclosed an investment plan in Inner Mongolia, involving multiple projects with an annual output of 20GW monocrystalline silicon rods and chips, with a total investment of about 19.5 billion yuan. Looking at the investment territory of Longi Green Energy Technology Co.Ltd(601012) before, there was little investment in Inner Mongolia.
real estate and banking sectors led the rise against the trend
The real estate sector set off a wave of limit trading in the morning, and more than 10 stocks such as Bright Real Estate Group Co.Limited(600708) , China Enterprise Company Limited(600675) , Nanjing Chixia Development Co.Ltd(600533) , Cccg Real Estate Corporation Limited(000736) , etc. rose.
The real estate sector has continued its strong performance for two weeks. The share price of leading real estate enterprise China Vanke Co.Ltd(000002) has increased by nearly 30% since March 15. The share price of Cccg Real Estate Corporation Limited(000736) doubled in just 10 trading days.
Market participants believe that the recovery of the real estate sector is due to the release of market expectations. Due to the low valuation of the real estate sector and the basic clearing of industry risks, investors expect the marginal improvement of the real estate sector in the future.
Citic Securities Company Limited(600030) said that from historical experience, real estate stocks did not fluctuate with the change of fundamental price, but rose and fell with the expectation of policy tightening. Now it seems that policy means are enough to promote the rebound of fundamentals, and the willingness of policy intervention under credit risk has reached the highest point.
In addition, bank stocks led the rise at the opening, Qilu Bank Co.Ltd(601665) limit, Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.Ltd(601528) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) , Bank Of Nanjing Co.Ltd(601009) , etc.
Guotai Junan Securities Co.Ltd(601211) said that due to weak credit demand, loose monetary policy and base, the growth rate of revenue and net profit of the banking sector in 2022 is expected to decline compared with that in 2021. However, the performance of small and medium-sized industries in high-quality regions will be independent of the industry, and the growth rate of revenue and net profit of some high-quality targets is still expected to maintain a double-digit growth level.
