On the evening of January 16, Suzhou Maxwell Technologies Co.Ltd(300751) (300751) issued an announcement on the advance increase of annual performance in 2021, saying that it is expected to realize the net profit attributable to the shareholders of the listed company in 2021, ranging from 580 million yuan to 680 million yuan, with a year-on-year increase of 47.05% to 72.40%; The net profit after deducting non recurring profits and losses was 540 million yuan to 640 million yuan, a year-on-year increase of 59.54% to 89.08%.
For the growth of performance, Suzhou Maxwell Technologies Co.Ltd(300751) said: “the sales volume of the company’s main product Cecep Solar Energy Co.Ltd(000591) battery screen printing equipment increased steadily, which maintained a high growth rate of the company’s net profit in 2021; at the same time, the company’s overall sales gross profit margin increased year-on-year.”
It is understood that the main business of Suzhou Maxwell Technologies Co.Ltd(300751) is the design, R & D, production and sales of high-end intelligent manufacturing equipment, and the leading product is the complete set of equipment of Cecep Solar Energy Co.Ltd(000591) battery screen printing production line. At present, the company has obvious technical and performance advantages in this field, with a stable market share.
The reporter of Securities Daily learned from the financial report that Suzhou Maxwell Technologies Co.Ltd(300751) has developed steadily in recent years. Specifically, from 2018 to 2020, the company’s operating revenue was RMB 788 million, RMB 1438 million and RMB 2285 million respectively, with a year-on-year increase of 65.55%, 82.48% and 58.96% respectively; In the same period, the net profit attributable to the shareholders of the parent company was 171 million yuan, 248 million yuan and 394 million yuan respectively, with a corresponding year-on-year increase of 30.58%, 44.82% and 59.34%.
In 2021, Suzhou Maxwell Technologies Co.Ltd(300751) continued its performance growth trend. The sales volume of Cecep Solar Energy Co.Ltd(000591) battery screen printing equipment increased steadily. Among them, in the third quarter of 2021, the company’s revenue and net profit were 946 million yuan and 203 million yuan respectively, both reaching a record high in a single quarter. The reporter noted that during the reporting period, the company successively won the whole line orders of hjt (heterojunction Cecep Solar Energy Co.Ltd(000591) battery) equipment such as Guangdong Golden Glass Technologies Limited(300093) , Huasheng new energy and Jiangsu Akcome Science And Technology Co.Ltd(002610) , and the orders on hand were full.
A securities analyst told the reporter of Securities Daily: “from the perspective of the industry, Suzhou Maxwell Technologies Co.Ltd(300751) In recent years, revenue and net profit have increased rapidly, mainly benefiting from the industry dividend brought by the development of photovoltaic industry. In the past two years, the state has issued some regulatory policies to guide the long-term and stable development of the photovoltaic industry. Since 2018, the growth rate of photovoltaic industry has slowed down, and the value of cost reduction and efficiency increase in the industry has gradually become prominent. The company’s equipment is mainly used in the production of battery chips, which still plays an important role in the trend of cost reduction and efficiency increase in the industry. The company has enjoyed the growth brought by industry increment. Through the experience accumulated in the industry, it is expected to continue to maintain the opportunities brought by the trend of cost reduction and efficiency increase. “
It is worth mentioning that during the reporting period, Suzhou Maxwell Technologies Co.Ltd(300751) plans to raise no more than 2.812 billion yuan to overweight hjt equipment. After being put into operation, the company will have the ability to provide 40 heterojunction Cecep Solar Energy Co.Ltd(000591) battery chip whole line equipment every year, and it is expected to realize sales revenue of 6 billion yuan per year after reaching the production capacity. At present, fixed value-added projects are advancing in an orderly manner.
In this regard, Everbright Securities Company Limited(601788) analyst Yin Zhongxin said in the Research Report: ” Suzhou Maxwell Technologies Co.Ltd(300751) layout of hjt whole line technology ecology has begun to take effect. The company actively layout hjt whole line equipment solutions and grasp the opportunity of technology change. With the dual support of technology and orders, the market share is expected to increase in the future.”
In an interview with reporters, Zhang Xiaorong, President of deep science and Technology Research Institute, said: “in the context of \’double carbon\’, there is a great demand for Cecep Solar Energy Co.Ltd(000591) battery device and a broad market prospect. As a leader of Cecep Solar Energy Co.Ltd(000591) battery device Suzhou Maxwell Technologies Co.Ltd(300751) With \’first mover advantage\’ + \’whole line supply capacity\’. During the reporting period, increasing the main business of fixed code can improve the conversion efficiency of battery chips, help to improve market share and enhance their own competitive advantage; When the downstream hjt \’production expansion tide\’ is coming, strengthen the company’s capacity supply capacity. “
Qi Haizhen, President of Beijing Teyi Sunshine New Energy Technology Co., Ltd., told Securities Daily: “The technical indicators of hjt battery are the future development direction. The battery technology upgrading requirements are high, the equipment updating iteration is fast, and the requirements for relevant battery equipment manufacturers are higher. In addition to having a certain capital reserve, there should also be sufficient R & D strength to ensure the product technology upgrading and upgrading, meet the development needs of the industry, and even lead the development trend of the industry.”
\u3000\u3000 “Large size silicon wafer is the development trend in the future. Especially with the advent of the era of 182 and 210 products, the battery chip equipment also needs to be upgraded or newly purchased. With the gradual end of the era of perc battery, the technologies such as new battery TOPCON and hjt heterojunction need to start the beam quickly. The application of these new battery technologies on monocrystalline silicon wafer will be more efficient than that on polycrystalline silicon wafer The efficiency is much higher, and we can give play to the greater advantage of “kwh cost” in the future. ” Qi added.
