Just a few months ago, the polysilicon industry was still surrounded by various bad speeches, "polysilicon overcapacity", "polysilicon enterprises will be closed down", "small and medium-sized (polysilicon) enterprises naked swimming" and so on, so that the entire industry is shrouded in the clouds Among them.
However, "Suddenly, the East comes, the thousand trees and the pears bloom." There are more and more indications that China's polysilicon solar industry is welcoming the second spring after experiencing the peak of 2006-2007 and the low of 2008-2009. "Now there are so many international orders that every company can't do. Many companies are expanding their production capacity and can't meet the demand." In an interview with reporters, Miao Liansheng, chairman of Yingli Green Energy, who was famous for sponsoring the World Cup, said.
Due to the strong demand in the international market, polysilicon raw materials and solar modules are out of stock, and the price of polysilicon has risen from less than 50 US dollars/kg to the current 65 US dollars/kg or even higher.
1. Phenomenon "There are too many factory orders to be completed"
Yingli Green Energy received more than 4G watts of orders at the Solar Photovoltaic Exhibition in Munich in early June. For the whole year of 2010, the total installed capacity of the global photovoltaic industry is expected to be 10G watts. At present, Yingli's production capacity is only about 1G watt. The reporter learned from Wuxi Suntech, Tianwei Baobian, Tuo Rixin Energy and other companies that these domestic PV leading enterprises are now operating at full capacity, but many orders have already been placed next year. "Not only the large enterprises have full orders, but the assembly-oriented SMEs like us can't finish the order." The head of a small solar company in Baoding, Hebei, told reporters.
In response to the orders, Yingli Green Energy announced an expansion of 400 MW capacity, including the base capacity of 300 MW of monocrystalline silicon at Baoding headquarters and the base capacity of 100 MW of polysilicon in Haikou City, Hainan Province. Miao Liansheng expects that Yingli's total capacity will reach 1400 MW by the end of this year, and the cost of photovoltaic power generation can be reduced to RMB 1 per kWh, which has the ability to compete with traditional energy sources.
It is not only Yingli that actively expands production. At the beginning of June, Wuxi Suntech Power, the world's second-largest solar cell manufacturer, announced a high-profile expansion plan to meet growing demand. Shi Zhengrong, chairman of Wuxi Suntech, said that the company plans to invest 2.68 billion yuan to build a 1G tile production base in Minhang District, Shanghai, close to the company's existing production capacity. "This year we (the products) are all sold out, the production capacity is not enough, can not meet the needs of customers," he pointed out, "due to insufficient capacity, we have debts in the second quarter, and there are debts in the third quarter."
In addition to the "old" enterprises in the active expansion of the military preparations, many new forces are also optimistic about the prospects of the solar industry and have entered. On July 7, Taiwan’s AUO Chairman Li Zhaoyao announced that it will invest 73 billion yuan (about 15.3 billion yuan) to build the largest solar photovoltaic production base in the Asia-Pacific region, and will build two super-large solar cells and module factories. Capacity planning is up to 2 billion watts (2GW). In addition, China Southern Power Grid New Energy Company is in the process of preparation.
2. Exploring the strong demand in the international market
China is the global manufacturing base for polysilicon solar energy. In 2009, global solar cell production was around 10G watts, while China accounted for 40% of the total, ranking first in the world. Since most of China's solar energy is exported, the domestic polysilicon solar industry has bottomed out and production and sales are booming. The fundamental reason is that the international market is in strong demand.
As the world's largest photovoltaic market, Germany currently has about 10,000 megawatts of equipment integrated into the grid. In 2009 alone, Germany installed a lot of equipment with a total power of over 3,800 MW. The German solar market is at the forefront of the world, thanks to strong government subsidies. However, the German government released the wind a few months ago, saying it would cut subsidies.
On the afternoon of July 5, the German Bundestag and the Senate Mediation Committee reached an agreement on a solar subsidy reduction plan. However, in Shi Zhengrong's view, Chinese manufacturers are producing at full capacity, indicating that Germany's expectation of reducing subsidies has not had much impact on the market. Miao Liansheng also said that solar energy is gradually gaining popularity in Germany and is accepted by the general public. 50% of the local PV market is a residential roof project. The purchase decision is made by each household, indicating that the market has really begun to mature. stage.
The United States is also vigorously promoting the application of solar energy. According to a report released by the American Solar Energy Industry Association, the installed capacity of solar power in the United States in 2009 was 481 megawatts, second only to Germany, Italy and Japan. Not long ago, on July 3, US President Barack Obama said that the US Department of Energy will provide $1.85 billion to support two solar companies.
Japan has implemented an incentive system for solar energy since February 2009, which has further activated the Japanese solar market. Including Japan's Sharp, Sanyo and other solar giants have publicly pointed out that in 2010 to increase the proportion of outsourcing OEM orders for batteries, making Taiwan's solar foundry companies full of orders. In order to meet customer needs, Taiwan Solar Cell Plant is expected to build new plants or expand production in the second half of the year to meet demand.
3. Consequences, the profitability of solar energy companies has increased significantly
Because of the impact of the financial crisis, from the fourth quarter of 2008, and even to the whole of 2009, China's major polysilicon solar manufacturers generally fall into losses, many companies have to idle part of the production capacity, dismiss some workers to tide over the difficulties. Among them, Yingli Green Energy lost RMB 460 million in 2009; Tianwei Baobian’s Xinguang Silicon and Tianwei Yingli’s polysilicon business revenue also fell sharply; Saiwei LDK suffered a huge loss of US$205.5 million in the second quarter of last year; Tongwei Even because of the loss of polysilicon business, it was stripped from the listed company...
However, since the second half of last year, due to the recovery of international market demand, the profitability of China's solar energy enterprises has gradually recovered. By the first half of this year, major solar energy companies have achieved significant profits.
Yingli Green Energy reported in the first quarter of this year that the company's total net revenue was 2.45 billion yuan, gross profit was 815 million yuan, and gross profit margin reached a record 33.3%. This means that Yingli’s commitment to complete the company’s full-year gross margin of 27% to 29% for Wall Street at the beginning of the year is not a false statement.
Wuxi Suntech’s first quarter 2010 financial report was also very bright: total revenue was 588 million US dollars, up 86.3% year-on-year; first quarter revenue was 20.7 million US dollars, up 19.5%; the company adjusted its 2010 production capacity target from 1.25G watts to 1.3G watts. Increased by 85% on the basis of 2009.
Jiangxi LDK LDK achieved sales of 347.6 million US dollars in the first quarter of this year, with a gross profit of 54.5 million US dollars. Compared with the previous quarter's net loss of 13.2 million US dollars, the company successfully turned losses into profit in the first quarter of 2010, net income of 7.2 million US dollars.
4. The price of related raw materials rebounded and reappeared
The international price of polysilicon reached 400-500 US dollars/kg in the peak period of the first half of 2008, but it has rapidly declined since the second half of 2008, and once fell to 50 US dollars/kg, which caused many polysilicon manufacturers to close or reduce production. The industry is in a trough.
However, with the warming of the international market, market demand has also driven the bottoming out of polysilicon raw material prices. It is understood that due to the full production of the photovoltaic industry this year, driven by the dual demand of photovoltaic industry and semiconductor industry, polysilicon supply is tight, the current polysilicon price has risen from 50-52 US dollars / kg to 60-65 US dollars / kg. First-tier manufacturers in many industries expect polysilicon prices to gradually increase to 70-80 US dollars / kg.
Jiangxi Saiwei said that the company's polysilicon capacity can reach more than 6,000 tons so far, and may exceed 10,000 tons at the end of the year, but it can only meet less than half of the company's annual demand.
Yingli Green Energy's production line covers the entire photovoltaic industry chain, including polysilicon production, silicon ingot casting, wafer cutting, photovoltaic cell production and photovoltaic module packaging. Because Yingli has its own polysilicon raw material production capacity, the rebound in polysilicon prices and tight supply have not had much impact on Yingli. However, in order to ensure the supply of raw materials in the future, Yingli has invested heavily in expansion.
In addition to polysilicon raw materials, battery components have also fallen into tight supply due to the market boom. According to Chen Weipeng, a sales manager of a solar cell module manufacturing company in Beijing, the market's short supply has intensified the competition of upstream raw materials by big manufacturers, and its purchase volume has increased greatly, which has caused many small and medium-sized enterprises to face the challenge of “no riceâ€.
However, "Suddenly, the East comes, the thousand trees and the pears bloom." There are more and more indications that China's polysilicon solar industry is welcoming the second spring after experiencing the peak of 2006-2007 and the low of 2008-2009. "Now there are so many international orders that every company can't do. Many companies are expanding their production capacity and can't meet the demand." In an interview with reporters, Miao Liansheng, chairman of Yingli Green Energy, who was famous for sponsoring the World Cup, said.
Due to the strong demand in the international market, polysilicon raw materials and solar modules are out of stock, and the price of polysilicon has risen from less than 50 US dollars/kg to the current 65 US dollars/kg or even higher.
1. Phenomenon "There are too many factory orders to be completed"
Yingli Green Energy received more than 4G watts of orders at the Solar Photovoltaic Exhibition in Munich in early June. For the whole year of 2010, the total installed capacity of the global photovoltaic industry is expected to be 10G watts. At present, Yingli's production capacity is only about 1G watt. The reporter learned from Wuxi Suntech, Tianwei Baobian, Tuo Rixin Energy and other companies that these domestic PV leading enterprises are now operating at full capacity, but many orders have already been placed next year. "Not only the large enterprises have full orders, but the assembly-oriented SMEs like us can't finish the order." The head of a small solar company in Baoding, Hebei, told reporters.
In response to the orders, Yingli Green Energy announced an expansion of 400 MW capacity, including the base capacity of 300 MW of monocrystalline silicon at Baoding headquarters and the base capacity of 100 MW of polysilicon in Haikou City, Hainan Province. Miao Liansheng expects that Yingli's total capacity will reach 1400 MW by the end of this year, and the cost of photovoltaic power generation can be reduced to RMB 1 per kWh, which has the ability to compete with traditional energy sources.
It is not only Yingli that actively expands production. At the beginning of June, Wuxi Suntech Power, the world's second-largest solar cell manufacturer, announced a high-profile expansion plan to meet growing demand. Shi Zhengrong, chairman of Wuxi Suntech, said that the company plans to invest 2.68 billion yuan to build a 1G tile production base in Minhang District, Shanghai, close to the company's existing production capacity. "This year we (the products) are all sold out, the production capacity is not enough, can not meet the needs of customers," he pointed out, "due to insufficient capacity, we have debts in the second quarter, and there are debts in the third quarter."
In addition to the "old" enterprises in the active expansion of the military preparations, many new forces are also optimistic about the prospects of the solar industry and have entered. On July 7, Taiwan’s AUO Chairman Li Zhaoyao announced that it will invest 73 billion yuan (about 15.3 billion yuan) to build the largest solar photovoltaic production base in the Asia-Pacific region, and will build two super-large solar cells and module factories. Capacity planning is up to 2 billion watts (2GW). In addition, China Southern Power Grid New Energy Company is in the process of preparation.
2. Exploring the strong demand in the international market
China is the global manufacturing base for polysilicon solar energy. In 2009, global solar cell production was around 10G watts, while China accounted for 40% of the total, ranking first in the world. Since most of China's solar energy is exported, the domestic polysilicon solar industry has bottomed out and production and sales are booming. The fundamental reason is that the international market is in strong demand.
As the world's largest photovoltaic market, Germany currently has about 10,000 megawatts of equipment integrated into the grid. In 2009 alone, Germany installed a lot of equipment with a total power of over 3,800 MW. The German solar market is at the forefront of the world, thanks to strong government subsidies. However, the German government released the wind a few months ago, saying it would cut subsidies.
On the afternoon of July 5, the German Bundestag and the Senate Mediation Committee reached an agreement on a solar subsidy reduction plan. However, in Shi Zhengrong's view, Chinese manufacturers are producing at full capacity, indicating that Germany's expectation of reducing subsidies has not had much impact on the market. Miao Liansheng also said that solar energy is gradually gaining popularity in Germany and is accepted by the general public. 50% of the local PV market is a residential roof project. The purchase decision is made by each household, indicating that the market has really begun to mature. stage.
The United States is also vigorously promoting the application of solar energy. According to a report released by the American Solar Energy Industry Association, the installed capacity of solar power in the United States in 2009 was 481 megawatts, second only to Germany, Italy and Japan. Not long ago, on July 3, US President Barack Obama said that the US Department of Energy will provide $1.85 billion to support two solar companies.
Japan has implemented an incentive system for solar energy since February 2009, which has further activated the Japanese solar market. Including Japan's Sharp, Sanyo and other solar giants have publicly pointed out that in 2010 to increase the proportion of outsourcing OEM orders for batteries, making Taiwan's solar foundry companies full of orders. In order to meet customer needs, Taiwan Solar Cell Plant is expected to build new plants or expand production in the second half of the year to meet demand.
3. Consequences, the profitability of solar energy companies has increased significantly
Because of the impact of the financial crisis, from the fourth quarter of 2008, and even to the whole of 2009, China's major polysilicon solar manufacturers generally fall into losses, many companies have to idle part of the production capacity, dismiss some workers to tide over the difficulties. Among them, Yingli Green Energy lost RMB 460 million in 2009; Tianwei Baobian’s Xinguang Silicon and Tianwei Yingli’s polysilicon business revenue also fell sharply; Saiwei LDK suffered a huge loss of US$205.5 million in the second quarter of last year; Tongwei Even because of the loss of polysilicon business, it was stripped from the listed company...
However, since the second half of last year, due to the recovery of international market demand, the profitability of China's solar energy enterprises has gradually recovered. By the first half of this year, major solar energy companies have achieved significant profits.
Yingli Green Energy reported in the first quarter of this year that the company's total net revenue was 2.45 billion yuan, gross profit was 815 million yuan, and gross profit margin reached a record 33.3%. This means that Yingli’s commitment to complete the company’s full-year gross margin of 27% to 29% for Wall Street at the beginning of the year is not a false statement.
Wuxi Suntech’s first quarter 2010 financial report was also very bright: total revenue was 588 million US dollars, up 86.3% year-on-year; first quarter revenue was 20.7 million US dollars, up 19.5%; the company adjusted its 2010 production capacity target from 1.25G watts to 1.3G watts. Increased by 85% on the basis of 2009.
Jiangxi LDK LDK achieved sales of 347.6 million US dollars in the first quarter of this year, with a gross profit of 54.5 million US dollars. Compared with the previous quarter's net loss of 13.2 million US dollars, the company successfully turned losses into profit in the first quarter of 2010, net income of 7.2 million US dollars.
4. The price of related raw materials rebounded and reappeared
The international price of polysilicon reached 400-500 US dollars/kg in the peak period of the first half of 2008, but it has rapidly declined since the second half of 2008, and once fell to 50 US dollars/kg, which caused many polysilicon manufacturers to close or reduce production. The industry is in a trough.
However, with the warming of the international market, market demand has also driven the bottoming out of polysilicon raw material prices. It is understood that due to the full production of the photovoltaic industry this year, driven by the dual demand of photovoltaic industry and semiconductor industry, polysilicon supply is tight, the current polysilicon price has risen from 50-52 US dollars / kg to 60-65 US dollars / kg. First-tier manufacturers in many industries expect polysilicon prices to gradually increase to 70-80 US dollars / kg.
Jiangxi Saiwei said that the company's polysilicon capacity can reach more than 6,000 tons so far, and may exceed 10,000 tons at the end of the year, but it can only meet less than half of the company's annual demand.
Yingli Green Energy's production line covers the entire photovoltaic industry chain, including polysilicon production, silicon ingot casting, wafer cutting, photovoltaic cell production and photovoltaic module packaging. Because Yingli has its own polysilicon raw material production capacity, the rebound in polysilicon prices and tight supply have not had much impact on Yingli. However, in order to ensure the supply of raw materials in the future, Yingli has invested heavily in expansion.
In addition to polysilicon raw materials, battery components have also fallen into tight supply due to the market boom. According to Chen Weipeng, a sales manager of a solar cell module manufacturing company in Beijing, the market's short supply has intensified the competition of upstream raw materials by big manufacturers, and its purchase volume has increased greatly, which has caused many small and medium-sized enterprises to face the challenge of “no riceâ€.
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