Low price bidding!"Silicon Last" Tongwei shares "Killing" component track, the industry competition pattern is a big shuffle

21st Century Business Herald reporter Han Xun Shanghai report

Shan Yu wants to come to the wind!

On August 19th, in addition to the rising silicon material concept stocks such as Tongwei (600438.SH), Daquan Energy (688303.SH), the photovoltaic sector of the A -share market "Aihong", Mubang Hi -Tech (603398.SH), and the A -share market. Sunrise Oriental (603366.SH) falls, Tianghe Light Energy (688599.SH) has fallen by more than 15%, Tianzhun Technology (688003.SH), Jing'ao Technology (002459.SZ), Longji Green Energy (601012.SH) , Amaton (002623.SZ), Shuangliang Energy -saving (600481.SH), Jingke Energy (688223.SH) and other stocks have fallen by more than 5%.

The news that caused the plunge of the industry's individual stocks may come from "Tongwei's pre -winning China Resources Electric 3GW photovoltaic component collection".

China Resources Electric Recently announced the fifth batch of photovoltaic component collection candidates for the winning bid, Tongwei Solar (Hefei) Co., Ltd. (hereinafter referred to as Tongwei Solar Hefei Company), Yijing Optoelectronics (600537.SH), and Longji Ley Leaf Photovoltaic Technology Co., Ltd. (Hereinafter referred to as Longji Ley) shortlisted for this collection. It is reported that if there is no objection, Tongwei Solar Hefei will win the unique order of the central enterprise. This is not only the first time that Tongwei has won the industry, but also marks the official entry into the field of photovoltaic components.

"This will change the current competitive landscape of the component." A veteran in a certain optical industry told the 21st Century Business Herald reporter that once Tongwei shares with silicon materials have entered the component field, "its cost advantage is that all component companies currently do not have any component companies. Yes, you can quickly seize the market share through the price advantage. "

On the evening of August 19th, the relevant person in Tongwei Co., Ltd. said in an interview with the 21st Century Business Herald that the company has long adhered to the business philosophy of professional division of labor and coordinated development, focusing on the business link Quality and price products. In the future, the company will continue to improve the core competitive advantage and market share of high -pure crystalline silicon and solar cells, and continue to do a good job of workshop director for industrial chain partners. "In terms of components, the company has some component production capacity since the acquisition of Hefei Saiwei in 2013. On the basis of this, it has maintained R & D, promotion and a small amount of production, and accumulated a certain technical and market foundation. Based on the current national double carbon carbon The target requirements and industry integration development trends have strengthened, and the company will follow the trend. Considering the further demonstration plan in the component business. "

Low -priced bidding down component profits

According to the bidding announcement, China Resources Electric Power's collection is 3GW, of which the double -sided 545W component is 2.9GW and the single -sided 545W component is 100MW.

The first winning candidate for the project is Tongwei Solar Hefei Company. The bid price is 5.827 billion yuan, and the bid unit price is 1.942 yuan/watt. ; The third bid candidate is Longji Leye, with a bid price of 6.061 billion yuan and a bid unit price of 2.020 yuan/watt.

Tongwei shares in the semi -annual report of 2022 show that Tongwei Solar Hefei Company belongs to the company's 100%subsidiary.

From the perspective of the bidding unit price, the quotation of Tongwei Solar Hefei is the lowest. Therefore, many rumors of the market show that "this collection will choose a component supplier as the first bid candidate. Sub -Resources 3GW component equipment procurement list. "

As soon as this news came out, on August 19, the photovoltaic concept stocks in the A -share market were "like the enemy", especially the individual stocks with components as the main business fell seriously. 84.10 yuan lowered, the lowest in the market fell to 71 yuan, and finally fell 15.07%to close 72.19 yuan, and the turnover rate reached 5.34%.

Judging from the trading data after the market, the Shanghai Stock Connect's seat was bought for 498 million yuan and sold 346 million yuan. The two -special seats for the two institutions bought 442 million yuan, and the four -special seats for the four institutions sold 1.19 billion yuan.

In this regard, the relevant person in Tianheguangneng told the 21st Century Business Herald reporter, "The company's fundamentals have not changed."

"Today's decline may be a bid candidate for China Resources Power's publicity. The market is worried about the future component pattern, but we feel that the stock price has excessively reflected this concern. Secondly, we are not worried about market demand and will not follow the price at a low price." Jing'ao Related science and technology people said to the 21st Century Business Herald.

During the interview, the 21st Century Business Herald reporters learned that since 2022, China Resources Electric Power has actually launched three batches of photovoltaic component bidding. Essence According to the results of the winning bid, the winning scale of Jing'ao Technology has reached 2.15GW.

From a price point of view, the collection of China Resources components is basically the main two-sided 540W component. The price of components from the first quarter to the third quarter of this year has increased significantly about 0.15-0.2 yuan/watt.

"It is mainly affected by the rise in the price of silicon materials, so the price of China Resources Electric's three consecutive batches of bidding is gradually rising." The senior person in the above -mentioned photovoltaic industry told the 21st Century Business Herald reporter that the photovoltaic component is located at the end of the photovoltaic industry chain manufacturing link. , Directly for the terminal application market, the downstream is a photovoltaic power station system. "The previous impression of Tongwei to the market is the faucet of silicon material. No one thinks that this company will also make components. After all, the gross profit of silicon material is much higher than the component link. However, he also admits that, from the current offer of Tongwei, "the probability will win the bid. After all, its offer is the lowest.

The competition pattern has been reshape has become a foregone conclusion

Affected by the global energy transformation environment, the demand for installation of overseas markets has surged. As the largest exporter of photovoltaic components, my country has continued to expand.

According to the data of the China Photovoltaic Industry Association, from the perspective of exports, the export volume in 2018 is 41.0GW, 98.5GW has reached 98.5GW in 2021, and the CAGR in 2018-2021 is 33.9%; the component export volume in the first half of 2022 reached 78.6 GW, a year -on -year increase of 74.3%.

The global component shipment ranking disclosed by PV Infolink in 2021 shows that among the top 10 photovoltaic component suppliers, Chinese companies occupy eight seats and won the top six. Among them, after the first place on the list in 2020, Longji Green Energy continued to sit in the first place in 2021. The second place is Tianhe and Jing'ao. Crystal science is ranked fourth, followed by Ates, Oriental Risheng, Hanhua Q-Cells, First Solar, Shangde, Zhengtai.

"This is the current component competition pattern, but after Tongwei comes in, the pattern will change." An analyst of a new industry industry annex for a securities company gives "the same view". As Tongwei has a "silicon material advantage" Cutting into the downstream component link, "it can even grab market share regardless of cost, because the profit of silicon material can completely make up for the loss of the component, not to mention that the technical content of the component is not high."

In fact, the 21st Century Business Herald reporter learned that Tongwei has previously had component business, but the smaller scale has not received much attention inside and outside the industry.

The annual report of Tongwei Co., Ltd. showed that the company's battery and component sales reached 34.93GW, an increase of 57.61%year -on -year. The output of "crystal silicon battery components" is 2.51GW, and the design capacity is 3.6GW. It is expected that the production time is 2022.

According to the above -mentioned brokerage power industry analysts, according to Tongwei's current silicon material production capacity expansion plan, "2024 will reach 750,000 tons, then the price of silicon materials will be a high probability event next year, which means Tongwei shares can no longer make so much money, and may not even digest so much capacity. Then, it uses the cost advantage of silicon materials to lay out components, which can not only digest the capacity of silicon materials, but also seize the market share. Why not? Woolen cloth?"

What is even more worried about the market is that there are currently rumors that the layout of Tongwei shares on the component may reach 50GW-100GW.

"What is this concept? Last year, Longji's component shipment was only 38GW. Can you not worry about other components (manufacturers)? Tongwei shares can make a 'shuffling' by the component industry through the integrated advantage. The days will be even more sad. "However, a veteran in the above -mentioned light industry admits that even if Tongwei wants to grab the component market now, it will take two or three years to lay out. Channels need to be deeply cultivated for many years. How much market share can be grabbed, it is hard to say. But the only thing that can be certain is that the future competition pattern of components must be changed. "

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