Last week, the trend of photovoltaic sector was weak and individual stocks performed poorly. The current PV industry index fell by – 0.31%, less than the CSI 300 index, and the average daily transaction amount continued to shrink month on month. Individual stocks in the sector fell more and rose less, with poor profit-making effect. Individual stocks such as Roshow Technoiogy Co.Ltd(002617) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Jiangsu Zhongli Group Co.Ltd(002309) , Ningbo Boway Alloy Material Co.Ltd(601137) , Hangzhou First Applied Material Co.Ltd(603806) , Anhui Deli Household Glass Co.Ltd(002571) , Ginlong Technologies Co.Ltd(300763) , Ja Solar Technology Co.Ltd(002459) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Shanghai Aiko Solar Energy Co.Ltd(600732) led the gains.
The demand of short-term industrial chain has improved, and the prices of silicon materials and silicon wafers have stabilized and rebounded. Last week, the prices of single crystal compact and single crystal re feeding in China rebounded to about 230000 yuan / ton, an increase of about 1.5%. Longi Green Energy Technology Co.Ltd(601012) the prices of G1, M6 and M10 silicon wafers were increased by 2.5%, 2.4% and 5.1% respectively. The prices of cells, modules and photovoltaic glass were basically flat month on month. The price increase of silicon materials and silicon wafers reflects the pulling effect of early price reduction on the demand of the industrial chain to a certain extent. Considering the increase of new supply of silicon head enterprises and the expansion of production in all links of the industrial chain in 2022, it is expected that the prices of all links will still have room for decline.
Affected by the high prosperity of the industrial chain, the performance growth rate of the photovoltaic sector is generally high in 2021. The performance forecast of the photovoltaic sector in 2021 shows that the performance growth of the photovoltaic sector in 2021 is generally high due to the good downstream demand, the increase of capital expenditure in main production links, the large sales volume of photovoltaic products and the increase of upstream prices. The net profit growth of Wuxi Shangji Automation Co.Ltd(603185) , Tongwei Co.Ltd(600438) , Tbea Co.Ltd(600089) , Hoshine Silicon Industry Co.Ltd(603260) , Ginlong Technologies Co.Ltd(300763) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Suzhou Good-Ark Electronics Co.Ltd(002079) which have disclosed the announcement of performance advance increase is expected to exceed 50%.
Investment suggestion: the short-term market risk appetite is reduced, and there are signs of rebound after the continuous decline of photovoltaic sector. Considering the industrial conditions, valuation and market sentiment, we still need to be cautious in the short term. In the medium term, it is suggested to focus on alleviating the shortage of raw material supply, improving the demand for photovoltaic installation and the layout of beneficiary areas.
Risk warning: the global installed demand is less than expected; The implementation of the policy is less than expected; Performance growth is less than expected risk. one thousand five hundred and thirty-nine
