On January 26, 2022, Jingke Energy Co., Ltd. (hereinafter referred to as “Jingke energy”, code 688223. SH), a world-famous photovoltaic product manufacturer, successfully landed on the Kechuang board. On the first day of listing, the opening price of Jingke energy was 8.5 yuan / share, up 70% from the issue price. After opening, the share price of Jingke energy rose rapidly, the market value exceeded 100 billion, and the highest intraday increase was 139%.
the global layout welcomes the east wind of the industry and the vertical integration is fully consolidated
Public information shows that Jingke energy was established in 2006 and is mainly engaged in the R & D, production and sales of Cecep Solar Energy Co.Ltd(000591) photovoltaic modules, batteries and silicon wafers at this stage. After 16 years of deep cultivation in the photovoltaic industry, Jingke energy has grown into a world-renowned manufacturer of photovoltaic products.
In order to further optimize production capacity planning and deliver high-quality photovoltaic products with low cost and high efficiency to global customers, Jingke energy has established a three-dimensional sales layout of “global layout and local operation”.
Up to now, Jingke energy has set up overseas production bases in Malaysia, Vietnam and the United States, and overseas sales subsidiaries in more than 10 countries around the world. Its products have been sold to more than 160 countries and regions around the world. Public information shows that Jingke energy occupies a leading position in more than half of the world’s top 10 markets.
After years of global operation, Jingke energy has built a good brand image and helped it win many major bidding cases. For example, not long ago, Jingke energy successively reached strategic cooperation or project delivery with China Petroleum & Chemical Corporation(600028) , Petrochina Company Limited(601857) and CNOOC. The prospectus shows that at present, the production bases of Jingke energy are located in six provinces and autonomous regions in China, including Jiangxi, Zhejiang, Sichuan, Xinjiang, Anhui and Yunnan (under construction).
The prospectus shows that from 2016 to 2019, Jingke energy has been ranked in the forefront of global PV module shipments for four consecutive years. By the end of the first half of 2021, the cumulative component shipments of Jingke energy had exceeded 80gw, establishing a good market position worldwide.
It is worth mentioning that after years of development, Jingke energy has formed a “vertical integration” industrial chain layout, which can cover the R & D, production and sales of a series of products such as silicon rods / ingots, silicon wafers, battery chips and photovoltaic modules. It has accumulated rich experience in each production process section and established the advantage of industrial chain integration. Through the competition strategy of vertical integration, Jingke energy can better reduce the cost of core products, expand production capacity and enhance product added value.
In recent years, the state has intensively issued a series of policies around the goal of “carbon neutrality”. Among them, the photovoltaic industry is listed as one of the national strategic emerging industries, and the industry ushers in new opportunities for development. In this issuance, Jingke energy raised a total of 10 billion yuan, which will be used to further improve the R & D and production capacity of the company’s n-type high-efficiency batteries and high-efficiency component products, so as to effectively consolidate and enhance the business performance and leading market position of Jingke energy.
leading technology layout leads industry development “policy + economy” creates sunshine track
On the listing day, Sinolink Securities Co.Ltd(600109) covered Jingke energy (688223. SH) for the first time and gave a buy rating. It believes that this listing, Jingke energy is expected to further consolidate the integrated cost advantage. With the rapid development of tpocon products, the company is expected to enjoy a premium on differentiated products.
At present, the n-type TOPCON battery technology of Jingke energy has established significant leading advantages in terms of efficiency, yield and scale, and is leading the transformation and upgrading of the next generation of photovoltaic technology. In 2021, the conversion efficiency of Jingke energy n-type TOPCON battery broke the record four times in the same year, and the conversion efficiency reached 25.4%. Jingke energy also took the lead in commercializing the leading n-type technology – Tiger Neo, and promoted the upgrading of the industry to n-type with practical actions.
At the same time, the company is also accumulating forward-looking technologies in the direction of photovoltaic hydrogen production and energy storage, constantly expanding the large-scale application scenarios of photovoltaic in the fields of production, life, construction and transportation, focusing on building a “clean energy ecosystem” and incubating new business growth poles.
In recent years, the state has intensively issued a series of policies around the goal of “carbon neutrality”. Among them, the photovoltaic industry is listed as one of the national strategic emerging industries, and the industry ushers in new opportunities for development. In October 2021, relevant departments issued the action plan for carbon peak by 2030. It is emphasized in the plan to accelerate the optimization of building energy consumption structure. We will deepen the application of renewable energy in buildings and promote the integrated application of photovoltaic power generation and buildings.
With the help of multiple favorable factors such as policy, economy and market demand, the photovoltaic industry is expected to make great breakthroughs in the industrial chain and application scenarios. Relying on the leading industrial chain layout, iterative technological breakthroughs and high-quality brand effect, Jingke energy will further consolidate and enhance the leading position in the industry competition.
At the beginning of 2022, Jingke energy successfully landed on the scientific innovation board and added another member to the A-share photovoltaic 100 billion club. With the blessing of the capital market, Jingke energy is expected to further enjoy the dividend effect of the development of the times, achieve leapfrog development and continue to lead the innovation and development of China’s photovoltaic industry in addition to consolidating the leading position of global photovoltaic modules.
Li Xiande, chairman of Jingke energy, said at the listing ceremony: “Landing on the science and Innovation Board of Shanghai Stock Exchange is a new starting point for Jingke energy, and I feel very honored and heavy responsibility on my shoulder. Jingke energy will make persistent efforts, continue to consolidate its industry status and technical advantages with the help of the science and innovation board platform, lead the industry to higher quality development, help the smooth realization of the national 3060 double carbon goal, and strive to become the leader with long-term investment value in the capital market Ministry of enterprise. “
