The share price of Ja Solar Technology Co.Ltd(002459) with a market value of 100 billion yuan, the largest increase of so far in 2018 23456 has been nearly seven times , but dragged down by the overall sluggish market trend of the high boom track this year, has been pulled back nearly 30% from the historical peak .
After hours today, Ja Solar Technology Co.Ltd(002459) announced that the net profit in the first quarter of 2022 is expected to be 700 million yuan – 780 million yuan, with a year-on-year increase of 346.32% – 397.33%; The shipment volume of photovoltaic module products of the company increased by , and the product price increased in the same direction. The net profit of the company in the fourth quarter of 2021 is 726 million yuan. Based on this calculation, the net profit of first quarter of 2022 is expected to change by – 3% – 7% month on month .
As soon as the announcement was made, investors talked about it on the app of the financial associated press. Some people were bearish: ” profit is so low, the limit is “, and some people were optimistic: ” tomorrow, take off “.
According to public information, the main business of of Ja Solar Technology Co.Ltd(002459) is Cecep Solar Energy Co.Ltd(000591) components , accounting for more than 90% of revenue.
In terms of industry, the photovoltaic industry chain can be divided into four manufacturing links: silicon material, silicon wafer, battery wafer and module. According to the statistics of consulting firm PV InfoLink, Longji continued to rank first in the world in terms of global component shipments in 2021 Trina Solar and Jingao ranked second ; From 2016 to 2019, Jingke, the champion for four consecutive years, retreated to the fourth place.
According to public information, the export of Cecep Solar Energy Co.Ltd(000591) batteries (including components) in January and February was 20.63 billion yuan and 26.09 billion yuan respectively, with a year-on-year increase of 105% and 114% respectively component exports grew rapidly , and the export amount of battery components and Inverters from January to February was 46.7/54 billion yuan, a year-on-year increase of 110 / 19%. According to the calculation, from January to February of 22, about 26gw of components were exported, with a year-on-year increase of about 80% .
According to the Research Report of Minsheng securities Deng Yongkang and Guo Yanchen on March 28, from the perspective of component bidding, the average premium of TOPCON battery bidding projects in China is more than 0.1 yuan / W, and the downstream owners have a high acceptance of the premium of components equipped with new battery technology China’s installed capacity in the first two months exceeded expectations, laying a high tone of prosperity for the whole year
China Merchants Securities Co.Ltd(600999) in the research report released on February 28, it is believed that Ja Solar Technology Co.Ltd(002459) occupies the advantages of components and continues to carry out integrated supplement and expansion, it is expected that the profitability will improve .
601 in the research report released on February 14, 1995, the company said that with the gradual easing of the overseas epidemic, the company increased the vertical integration capacity of Vietnam , and is optimistic about the overseas silicon + overseas integration capacity, which is expected to improve the company’s ability to produce and supply modules to the high profit and high barrier U.S. photovoltaic market .
Meanwhile, China International Capital Corporation Limited(601995) pointed out that Ofilm Group Co.Ltd(002456) plans to invest in Yiwu 10GW component auxiliary materials supporting project and Gaoyou 6Gw component auxiliary materials supporting potential foreign investment projects, which is conducive to improving the integrated supporting capacity of local auxiliary materials at the site where the company’s component capacity is located, is expected to reduce freight costs and improve the stability of auxiliary materials supply, continue to tap the cost reduction space of component links .
On April 13, the silicon branch updated the polysilicon price. The silicon material continued to show a slight upward trend, and the average transaction price has reached 250000 yuan / ton. Since the silicon material rose again in the middle of January this year, silicon material prices have remained strong, and have maintained a slight upward trend for 13 consecutive weeks . Although the silicon industry branch and other institutions have made an early warning of silicon excess, silicon wafer and component enterprises have repeatedly announced to invest in polycrystalline silicon.
Ja Solar Technology Co.Ltd(002459) recently announced that plans to build new capacity of silicon wafers, batteries and module accessories, and a 200MW photovoltaic energy storage power station , so as to build a whole industrial chain Longi Green Energy Technology Co.Ltd(601012) , Tongwei Co.Ltd(600438) , Xinte energy, poly GCL and other major enterprises in China’s silicon material field have signed long-term orders; 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.
In addition, according to public information, heterojunction battery industrialization process accelerated , Ja Solar Technology Co.Ltd(002459) , Tongwei Co.Ltd(600438) , Ming Yang Smart Energy Group Limited(601615) , China Resources Power, etc. have announced GW level heterojunction project expansion plans.
As of April 14, 2022, a total of 10 institutions have predicted the performance of Ofilm Group Co.Ltd(002456) in 2022 within 6 months. The average net profit of is expected to be 3.784 billion yuan and 5.028 billion yuan in 2022 and 2023 respectively
