"The company's production capacity has gradually increased since the fourth quarter of last year. By March this year, the production capacity of diamond line has increased from 200000 km / month to 1 million km / month. Now the company has full orders and the production capacity is almost at full capacity." On April 12, in the Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700) busy production workshop, the relevant person in charge of the company told the reporter of Securities Daily that even though the production capacity of the company's diamond line used to cut photovoltaic silicon wafers has been greatly improved, the absolute output is difficult to meet the needs of major customers, and there are often reminders from major customers. It seems that the company's next production expansion is imperative.
Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700) as an upstream enterprise in the photovoltaic industry, the prosperity of the photovoltaic industry can be seen from its hot orders, full production and full sales. The reporter of Securities Daily further confirmed in various interviews that the demand of the photovoltaic industry continued to be hot in the first quarter of this year, leading enterprises expanded their production one after another, and the industry as a whole showed signs that the off-season was not light.
industrial chain listed companies busy expanding production
Since the beginning of this year, China's photovoltaic installation demand has improved and its export has increased rapidly. According to the data released by the national energy administration, the installed capacity of power generation in China from January to February was about 2.39 billion kw, a year-on-year increase of 7.8%.
The public information of listed companies related to the photovoltaic industry chain provides a more detailed footnote to the above macro data. The Tongwei Co.Ltd(600438) announcement, which is mainly engaged in the manufacturing of photovoltaic equipment and components, said that the company expects the attributable net profit in the first quarter of 2022 to increase by 4.053 billion yuan to 4.353 billion yuan compared with the same period of the previous year, with a year-on-year increase of 478% to 514%; Photovoltaic equipment supplier Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700) had a net profit of about 13.2 million yuan to 14.2 million yuan in the first quarter, significantly reversing its losses compared with the same period last year; Tianjin Zhonghuan Semiconductor Co.Ltd(002129) also publicly stated on the investor interaction platform that since 2022, the downstream demand has been increasing. The company adjusted the production scheduling plan of each production link according to the market supply and demand and the changes of upstream and downstream prices, and the production rate has increased month by month.
With the continuous upward trend of the photovoltaic industry chain, relevant listed companies have put the expansion of production capacity on the agenda. In March this year, Longi Green Energy Technology Co.Ltd(601012) announced that it plans to invest 19.5 billion yuan in the construction of 20GW annual single crystal silicon rod and chip project, 30GW high-efficiency single crystal cell project and 5GW high-efficiency photovoltaic module project Tbea Co.Ltd(600089) plans to invest in the 200000 ton polysilicon project in Xinjiang Changji Zhundong Industrial Park, with a total investment of about 17.6 billion yuan.
In addition, Ja Solar Technology Co.Ltd(002459) , Jingke energy, Jolywood (Suzhou) Sunwatt Co.Ltd(300393) and other enterprises have also successively announced the signing of major investment agreements or foreign investment announcements to expand the production capacity of silicon rods, silicon wafers, batteries, silicon materials and other links. Among them, Ja Solar Technology Co.Ltd(002459) 3 announced on March 8 that it plans to invest about 10 billion yuan to build a "green photovoltaic new energy base" in the next six years. On the same day, the company's fixed increase plan of raising no more than 5 billion yuan was approved by the CSRC.
Ja Solar Technology Co.Ltd(002459) Dong MIWU Tingdong said in an interview with Securities Daily: "the expansion of photovoltaic head enterprises is mainly based on market demand or expectations for the future industry, because the gradual increase of the proportion of renewable energy and clean energy in the whole energy structure is an irresistible trend, so in order to strive for more market share, major enterprises have expanded their production."
three reasons for not being light in the off-season
Why is the photovoltaic industry not light in the off-season? Will the substantial expansion of industrial chain enterprises cause overcapacity? Experts gave a detailed interpretation of these issues.
Bai Wenxi, chief economist of IPG China, said in an interview with Securities Daily that the recent introduction of the 14th five year plan for modern energy system is a major positive and long-term blessing for the photovoltaic sector. "As a green energy, photovoltaic is the key direction of China's future power structure adjustment and one of the important landing points of the current counter cyclical regulation policy. The photovoltaic sector has realized that it is not light in the off-season."
For the reasons why the off-season of photovoltaic industry was not light in the first quarter of this year, Wu Tingdong believes that, "There are three main factors: first, China's strong demand and the sharp rise in silicon materials have had a chain reaction, raising the cost of power generation, which restrained or delayed the demand for large power stations last year. Therefore, there is a demand for replenishment in the first quarter. Second, there is strong demand in Europe, but due to the lack of shipping capacity, the products cannot be delivered in time. With the mitigation of shipping capacity and timely delivery of products this year, the demand in Europe increased in the first quarter Strong performance. Third, the Indian market will begin to impose high tariffs on Chinese batteries and components on April 1, resulting in some rush loading or inventory in the first quarter, thus driving the demand in the first quarter. "
Although the high-profile prediction of the photovoltaic industry is consistent, Qi Haili, President of Beijing Teyi sunshine new energy, put forward some suggestions on the warming photovoltaic industry in an interview with the reporter of Securities Daily, "The sharp rise in the price of traditional fossil energy, the energy security crisis once again sounded the alarm, and the global demand for renewable energy increased, which further catalysed the demand of the photovoltaic industry. The global installed capacity of photovoltaic is likely to exceed the prediction of many previous institutions. The risk of silicon overcapacity is relatively controllable, but the overcapacity in silicon wafers, cells and modules always exists, which belongs to structural overcapacity, We need to control the capacity release capacity and cycle. "
Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700) relevant person in charge believes that there is indeed an imbalance in the production capacity of all links of the industrial chain. However, in the process of comprehensive expansion of the industrial chain, the release of the whole production capacity will take some time. In the short term, there will be no oversaturation of diamond line products. At this stage, there is still a gap in the production capacity with stable quality, excellent performance and large-scale supply.
