Recently, the reporter learned from the multi-party interview of the 6th Asian Solar PV Industry Exhibition hosted by the New Energy Chamber of Commerce of the All-China Federation of Industry and Commerce that “listing†has become the most talked word for PV companies. However, on the one hand, most PV companies are clustered in components and battery segments that lack technical thresholds. On the other hand, Chinese PV companies rely heavily on overseas markets, while PV subsidies in Europe have changed. It is expected that PV companies will become more difficult to market. The risk of VC investment in PV companies is increasing.
The 6th Asian Solar Photovoltaic Industry Exhibition held at the Shanghai Everbright Convention & Exhibition Center on the 5th - 7th gathered hundreds of companies. Almost all of the dozen companies visited by the reporter mentioned the listing plan. Hanergy Holding Group was originally Huarui Group. It is one of the largest private clean energy power generation enterprises in China. Its main business is hydropower. In 2010, it involved photovoltaic power generation, focusing on thin-film solar modules and battery chips. Zhang, the company responsible for capital operations, said that the company has a listing plan in the future.
The reporter also learned that the polysilicon project of Xinjiang Silicon Industry Company, a subsidiary of TBEA, has achieved mass production. In addition, the major shareholder Xinjiang Special Change Group has set up another Xinjiang New Energy Co., Ltd., which is mainly engaged in the production of downstream components, battery cells and inverters. It is reported that Xinjiang New Energy Co., Ltd. plans to go public.
Sichuan Yongxiang Polysilicon Co., Ltd., a subsidiary of Tianwei Group, has achieved mass production. In 2008, due to the sudden plunge in polysilicon prices, listed company Tianwei Co., Ltd. placed the shares of Yongxiang Polysilicon and exited PV. However, in 2011, Tianwei Group Yongxiang Polysilicon was in short supply. The reporter found on the booth of Tianwei Group that in addition to Yongxiang, the booth also had an additional Tongwei Solar Co., Ltd., which is mainly engaged in components and battery chips. According to reports, Tianwei Group PV is also planned to be listed separately.
Jiangxi Ruijing Solar is close to Jiangxi Saiwei, the main components and battery. According to field staff, the company also plans to go public. In recent years, Hefei Sunshine is the main inverter in the industry. According to informed sources, Hefei Sunshine is also preparing to go public...
The reporter asked more than a dozen exhibitors on the first floor and found that more than 90% of the companies mentioned the listing plan. Another feature is that the largest number of companies producing components and battery chips, accounting for more than 80%.
After the financial crisis, since the photovoltaic industry recovered in 2010, the PV industry chain companies listed in the Shanghai and Shenzhen stock markets have had sunflowers, Dongfang Risheng, Chaori Sun, Tianlong Optoelectronics, and Oak. The story of venture capital's riches in the Suntech project in Wuxi has inspired PE and VC to invest in PV. At the exhibition, many venture capitalists came here. However, the reporter's investigation found that VCs are still cautious about PV companies that do not have core competitiveness.
Anyi Capital believes that the PV modules and slicing links are very mature and the competition is fierce. The company pays more attention to the supporting parts such as electronic board cleaning agents and consumables. Wanli Investment Management Co., Ltd. believes that 2010 is a big year for photovoltaics. Nowadays, PV investment prices are very expensive, and there is no need to chase projects without core technologies, core processes and core equipment.
China's photovoltaic industry market and raw materials are both outside, and technology is also introduced. In 2010, the price of components was stimulated by the overseas economic growth. In October last year, it exceeded US$1.4/W. However, since then, the price of components has fallen all the way to 1.2 US$/W, while the battery and upstream polysilicon have been affected. From more than $100/kg to the current $70/kg.
Europe is currently the world's most important PV market, with Germany and Italy accounting for 40% and 20% of the global market respectively. Recently, Germany has set a policy of flexible pricing adjustments every quarter to control the markets that are growing too fast; Italy's latest policy on May 6 has significantly lowered its PV subsidies. Some institutions predict that the installed capacity of photovoltaics in Germany and Italy will fall by more than 50% in 2011. IMS senior analyst Wang Runchuan predicted that the European PV market is expected to bottom out in 2013.
Analysts believe that the supply of upstream polysilicon is in short supply, and the growth rate of the downstream market is slowing down. The profit of the battery and component companies that are pinched by both ends will be further reduced. According to the Hongya generation, the importance of product financing will increase from the trend. However, for the battery and component companies that intend to IPO, the decline in profits will become the biggest risk of listing.
According to industry analysts, inverters, crystal silicon production equipment, cutting lines and other supporting links are relatively small, and the impact is relatively small.
The 6th Asian Solar Photovoltaic Industry Exhibition held at the Shanghai Everbright Convention & Exhibition Center on the 5th - 7th gathered hundreds of companies. Almost all of the dozen companies visited by the reporter mentioned the listing plan. Hanergy Holding Group was originally Huarui Group. It is one of the largest private clean energy power generation enterprises in China. Its main business is hydropower. In 2010, it involved photovoltaic power generation, focusing on thin-film solar modules and battery chips. Zhang, the company responsible for capital operations, said that the company has a listing plan in the future.
The reporter also learned that the polysilicon project of Xinjiang Silicon Industry Company, a subsidiary of TBEA, has achieved mass production. In addition, the major shareholder Xinjiang Special Change Group has set up another Xinjiang New Energy Co., Ltd., which is mainly engaged in the production of downstream components, battery cells and inverters. It is reported that Xinjiang New Energy Co., Ltd. plans to go public.
Sichuan Yongxiang Polysilicon Co., Ltd., a subsidiary of Tianwei Group, has achieved mass production. In 2008, due to the sudden plunge in polysilicon prices, listed company Tianwei Co., Ltd. placed the shares of Yongxiang Polysilicon and exited PV. However, in 2011, Tianwei Group Yongxiang Polysilicon was in short supply. The reporter found on the booth of Tianwei Group that in addition to Yongxiang, the booth also had an additional Tongwei Solar Co., Ltd., which is mainly engaged in components and battery chips. According to reports, Tianwei Group PV is also planned to be listed separately.
Jiangxi Ruijing Solar is close to Jiangxi Saiwei, the main components and battery. According to field staff, the company also plans to go public. In recent years, Hefei Sunshine is the main inverter in the industry. According to informed sources, Hefei Sunshine is also preparing to go public...
The reporter asked more than a dozen exhibitors on the first floor and found that more than 90% of the companies mentioned the listing plan. Another feature is that the largest number of companies producing components and battery chips, accounting for more than 80%.
After the financial crisis, since the photovoltaic industry recovered in 2010, the PV industry chain companies listed in the Shanghai and Shenzhen stock markets have had sunflowers, Dongfang Risheng, Chaori Sun, Tianlong Optoelectronics, and Oak. The story of venture capital's riches in the Suntech project in Wuxi has inspired PE and VC to invest in PV. At the exhibition, many venture capitalists came here. However, the reporter's investigation found that VCs are still cautious about PV companies that do not have core competitiveness.
Anyi Capital believes that the PV modules and slicing links are very mature and the competition is fierce. The company pays more attention to the supporting parts such as electronic board cleaning agents and consumables. Wanli Investment Management Co., Ltd. believes that 2010 is a big year for photovoltaics. Nowadays, PV investment prices are very expensive, and there is no need to chase projects without core technologies, core processes and core equipment.
China's photovoltaic industry market and raw materials are both outside, and technology is also introduced. In 2010, the price of components was stimulated by the overseas economic growth. In October last year, it exceeded US$1.4/W. However, since then, the price of components has fallen all the way to 1.2 US$/W, while the battery and upstream polysilicon have been affected. From more than $100/kg to the current $70/kg.
Europe is currently the world's most important PV market, with Germany and Italy accounting for 40% and 20% of the global market respectively. Recently, Germany has set a policy of flexible pricing adjustments every quarter to control the markets that are growing too fast; Italy's latest policy on May 6 has significantly lowered its PV subsidies. Some institutions predict that the installed capacity of photovoltaics in Germany and Italy will fall by more than 50% in 2011. IMS senior analyst Wang Runchuan predicted that the European PV market is expected to bottom out in 2013.
Analysts believe that the supply of upstream polysilicon is in short supply, and the growth rate of the downstream market is slowing down. The profit of the battery and component companies that are pinched by both ends will be further reduced. According to the Hongya generation, the importance of product financing will increase from the trend. However, for the battery and component companies that intend to IPO, the decline in profits will become the biggest risk of listing.
According to industry analysts, inverters, crystal silicon production equipment, cutting lines and other supporting links are relatively small, and the impact is relatively small.
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