Photovoltaic industry continues to boom Shuangliang Energy signed a long-term sales contract of 8.3 billion yuan
Published on:2021-07-19 09:10:04

Within less than a year of entering the silicon wafer market, Shuangliang Energy has won a long sales order of 8.3 billion yuan.

On October 15, Shuangliang Energy Conservation announced to the public that its subsidiary Shuangliang Silicon Materials (Baotou) Co., Ltd. and Jiangsu Runyang Yueda Photovoltaic Technology Co., Ltd. signed the "Monocrystalline Silicon Wafer Procurement Framework Contract". The contract stipulates that in January 2022 From January 1 to December 31, 2024, Yueda Photovoltaic purchased 1.3 billion monocrystalline silicon wafers from Shuangliang Silicon Materials (Baotou). After calculation, it is estimated that the total sales amount from 2022 to 2024 will be 8.333 billion yuan (tax included) .

Pan Helin, Executive Dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law and Executive Dean of the Guangzhou Digital Finance Innovation Research Institute, said in an interview with a reporter from Securities Daily: "The long-term contract of Shuangliang Energy Saving is considered to be very large in the industry. orders, but with the increase of entrants in the photovoltaic industry, more companies will sign large and long orders in the future.”

Photovoltaic has a bright future

Large-size silicon wafers become mainstream

Shuangliang Energy Conservation was listed in 2003. The company started with the business of energy-saving and water-saving systems, and entered the polysilicon industry in the early stage of listing. At present, the main business of Shuangliang Energy-saving is divided into energy-saving and water-saving systems and photovoltaic new energy systems. The energy-saving and water-saving systems mainly include lithium bromide cooling and heating units, heat exchangers, and air cooling systems. The photovoltaic new energy system includes a polysilicon reduction furnace and its modules, as well as large-sized monocrystalline silicon rods and silicon wafers.

The listed company has been deeply involved in the photovoltaic industry for many years, and is engaged in the manufacture of reduction furnaces, the core equipment for polysilicon production, and is the largest reduction furnace manufacturer in China. However, judging from the 2020 annual report, polysilicon reduction furnaces and other products accounted for only about 8.5% of operating income, and energy-saving and water-saving system business accounted for more than 90% of operating income.

The listed company has been deeply involved in the photovoltaic industry for many years, and is engaged in the manufacture of reduction furnaces, the core equipment for polysilicon production, and is the largest reduction furnace manufacturer in China. However, judging from the 2020 annual report, polysilicon reduction furnaces and other products accounted for only about 8.5% of operating income, and energy-saving and water-saving system business accounted for more than 90% of operating income.

Pan Helin told reporters, "At present, large-sized silicon wafers have become the mainstream of the industry, because large-sized silicon wafers can bring significant cost reduction effects to the entire industry chain, and the size of silicon wafers quickly completes the transition from M2 to G1 to M6, and There will be further conversions to 182/210 sizes."

According to the statistics of China Photovoltaic Industry Association, the photovoltaic monocrystalline silicon wafer market will account for about 90.2% in 2020. According to its forecast, the market share of large-size silicon wafers will increase from less than 5% in 2020 to more than 90% in 2025, becoming the mainstream size of the photovoltaic silicon wafer industry.

Qi Haishen, president of Beijing Teyi Sunshine New Energy, told the "Securities Daily" reporter, "The current 182 large silicon wafers have become mainstream products in the photovoltaic industry, and the supporting production equipment of downstream cell and module manufacturers has been updated a lot; that is, 210 Due to the different technical routes of different manufacturers and the fact that the equipment production line invested in the previous years has not recovered the cost, the pressure to directly launch 210 silicon wafers and cell components is great."

"The photovoltaic industry has broad prospects. At present, power shortages drive the demand for power production, and the power production structure is gradually changing from fossil energy and nuclear, photovoltaic, wind and other power generation methods. This transformation is global, and in terms of energy demand structure In order to reduce fossil energy consumption, electrical equipment such as electric vehicles is becoming more and more popular, and the demand for carbon emission reduction and the structural shortage of electricity coexist, making photovoltaics the best way to solve human energy problems in the future." Pan Helin said.

Upstream silicon material prices

Silicon wafer prices may rise

According to data released by the Silicon Industry Branch of China Nonferrous Metals Industry Association, as of September 29, the domestic single crystal re-feeding price range was 227,000-250,000 yuan / ton, and the average transaction price was 238,400 yuan / ton, a week-on-week increase of 10.94 yuan %; the price range of single crystal dense material is 225,000-248,000 yuan / ton, and the average transaction price is 235,800 yuan / ton, a week-on-week increase of 10.96%.

Qi Haishen said: "From the perspective of the four links of silicon materials, silicon wafers, cells and modules in the photovoltaic industry chain this year, the silicon materials link is the most profitable, and silicon wafer enterprises have basically paid The upward pressure has been passed on to cell companies and module factories.”

 "The recent dual control of energy consumption and power rationing measures have increased various costs including chemical raw materials, and the limited production capacity combined with strong downstream demand. The high price point during this period may become history, and it is understandable at this stage. It is a 'passion release period' for the dual carbon goals of the photovoltaic industry to superimpose energy consumption dual control and power curtailment measures." Qi Haishen added.

 At the end of September, Shuangliang Silicon Materials (Baotou), the main body of Shuangliang's energy-saving silicon wafer business, signed a long-term polysilicon purchase contract with Jiangsu Zhongneng Silicon Industry and Xinte Energy, locking in about 134,950 tons of polysilicon supply in the next five years. The average supply is about 27,000 tons, corresponding to a silicon wafer production capacity of about 10GW.

Pan Helin told reporters, "The shortage of automobile chips led to the delay in the production and delivery of automobiles. Therefore, for the photovoltaic industry, listed companies are also worried that this situation will extend to the field of photovoltaic silicon wafers, so they have locked polysilicon and monocrystalline silicon production capacity in advance and adopted long-term supply. contracts and locking in purchase prices to lock in future costs.”

Qi Haishen believes that if there is a certain capital accumulation and production capacity base, it is very wise to sign long-term orders for polysilicon. Products are "contained by the supply chain", there is a phenomenon that money can't buy goods, and there is no rice to go to the pot, avoiding the industry's "involution" consumption-type competition.

 "Currently, the future development of the photovoltaic industry is highly certain. Especially, there is an irreconcilable contradiction between rising energy prices and carbon emission reduction goals. Solving this contradiction is the best way for photovoltaics. The increase in silicon material prices will promote downstream silicon wafers. Costs have risen, and due to the continued prosperity of the photovoltaic industry, the price of silicon wafers will also rise in the future." Pan Helin said.

Suzhou Winsure Optical supply A series of laboratory lighting solutions such as airbag ignition lighting, crash test lighting, aging light source design, and solar radiation simulation.
About Us