Recently, Shuangliang Eco-Energy Systems Co.Ltd(600481) released the first quarter report of 2022 as an expert in energy conservation and water saving and a cutting-edge in the photovoltaic industry. During the reporting period, the company achieved an operating revenue of 1.734 billion yuan, a year-on-year increase of 299%; The net profit attributable to the parent company was 121 million yuan, a year-on-year increase of 340%; Deduct non net profit of 101 million yuan, an increase of 638% year-on-year. Both profits and revenues of Shuangliang have reached a new high in the first quarter since its listing in 2003.
It is reported that the revenue of 1.734 billion yuan has reached nearly half of the total revenue of 3.830 billion yuan in 2021, which is equivalent to generating revenue for half a year in one quarter. In addition, behind the outstanding performance, Shuangliang Eco-Energy Systems Co.Ltd(600481) has also been recognized by the national social security fund. On the list of the top ten shareholders in the first quarterly report of the company, the 412 portfolio of the national social security fund continued to increase, and the total number of positions reached 9.03 million shares.
Shuangliang Eco-Energy Systems Co.Ltd(600481) ‘s main business can be classified into two parts: energy-saving and water-saving system and new energy system. The company’s performance increased significantly in the first quarter of this year, mainly due to the growth of the company’s new energy system sector, including polysilicon reduction furnace business, monocrystalline silicon ingot and silicon wafer business. It is reported that the company’s polysilicon reduction furnace business signed a large number of sales orders as early as last year, providing a solid guarantee for the company’s continuous revenue generation. According to statistics, from 2021 to the end of the first quarter of 2022, the total amount of polysilicon reduction furnace and related orders signed by Shuangliang Eco-Energy Systems Co.Ltd(600481) reached 3.5 billion yuan, while the business revenue in 2021 was 980 million yuan. In other words, even if there are no new orders, the follow-up probability can gradually bring the revenue of polysilicon reduction furnace of 2.5 billion yuan.
Secondly, the capacity of the monocrystalline silicon chip business newly arranged by the company in 2021 also climbed smoothly, contributing a considerable part of the company’s revenue in the first quarter. According to the announcement, at present, 5 Aluminum Corporation Of China Limited(601600) single crystal furnaces (equivalent to about 8GW of annual production capacity) of Shuangliang Eco-Energy Systems Co.Ltd(600481) in the first single crystal plant in Baotou have been fully put into operation. In the first quarter of 2022, about 0.9gw of silicon rods / wafers (182 / 210mm) have been shipped The construction progress of the second single crystal plant is also higher than expected and is gradually put into operation. The company will realize the annual production capacity of 20GW + square ingots / silicon wafers in phase I as soon as possible during the year.
Whether it is the energy-saving and water-saving business of Shuangliang Eco-Energy Systems Co.Ltd(600481) years of intensive cultivation and layout, or the photovoltaic new energy business promoted by Shuangliang Eco-Energy Systems Co.Ltd(600481) for a long time in the future, it will benefit from the high prosperity development of the industry.
On the one hand, driven by the “double carbon” plan, Shuangliang Eco-Energy Systems Co.Ltd(600481) ‘s energy-saving and water-saving business will continue to benefit in depth. On the other hand, the prosperity of photovoltaic is still accelerating, which will continue to boost the market demand of polysilicon reduction furnace, silicon wafer, module and other businesses.
In order to seize the industry opportunity, the company’s polysilicon reduction furnace and other photovoltaic equipment have been busy recently, and actively prepare for more centralized delivery in the second half of the year. In the first quarter, Shuangliang Eco-Energy Systems Co.Ltd(600481) officially launched the investment and construction plan of phase II monocrystalline silicon project (20GW), with a total investment of 6.2 billion yuan and a construction period of two years, so as to achieve a total annual production capacity of 40gw + by 2023 and give full play to the scale advantages of the company.
At the same time, Shuangliang Eco-Energy Systems Co.Ltd(600481) announced to extend the photovoltaic industry chain in depth and appropriately, invest abroad, and plan to sign the cooperation framework agreement for phase I 5GW project of Baotou photovoltaic module.
On the whole, Shuangliang Eco-Energy Systems Co.Ltd(600481) existing business has formed the strategic layout of “energy conservation and emission reduction + new energy business”, which is in line with the national policy, which is not only the company’s long-term competitive advantage, but also the company’s future direction of struggle, and provides an important guarantee for the sustainable growth of future performance.
