The EU's export quota for China's photovoltaics is about 7GW, and China's production capacity is five times that. In the future, competition among Chinese photovoltaic companies will become more intense.
After all the hardships, China-EU photovoltaic trade friction finally has a more appropriate solution.
On July 29, in response to this "good news", the A-share solar power index rose 1.17% to close at 757.52 points, marking a good start for the intensive disclosure period for the upcoming 2013 mid-year report.
Recently, including the industry's first interim report published by Sungrow Power, Leshan Power, Chuantou Energy, Hengdian East Magnetics, and Amadeon released four interim report performance bulletins (after internal audit and unaudited audit), in support of " At the same time as the industry is picking up, it also shows that all enterprises are still "unexpected" in reality.
Liu Peng, deputy general manager of Youtai New Energy, said, "In the final analysis, this 'price commitment' agreement between China and Europe (including the lower price limit of 0.57 euros / watt and the upper limit of 7 GW) is not a market economic behavior, it is not conducive to Project developers and investors get better returns, which indirectly reduces the size of the market. The next step is to look at the internal merits of the companies themselves. "
Sungrow's performance rises and falls with the industry
As the first half-year performance in the industry in real sense, Sungrow ’s 2013 interim report released on July 27 showed that during the period, the company achieved operating revenue of 723 million yuan, a year-on-year increase of 99.59%; the net attributable to shareholders of listed companies Profit was 53.91 million yuan, an increase of 19.53% year-on-year; basic earnings per share was 0.17 yuan / share, an increase of 21.43% year-on-year.
A careful reading of Sungrow's 2013 Interim Report shows that the company's operating income in the photovoltaic industry increased by 116% year-on-year in the first half of this year, while its operating income in the wind energy industry decreased by 51.28% year-on-year.
Among them, in the photovoltaic inverter field with the most advantages of Sungrow, although the company's product gross profit margin fell 10.32% year-on-year in the first half of this year, it still achieved an operating income of nearly 430 million yuan, an increase of 33.58% year-on-year; The field of wind energy converters is also quite competitive, but its operating income during the same period was only 17.56 million yuan, a year-on-year decrease of 45.75%, which is far away from photovoltaic inverters.
All in all, the different performance of Sungrow in the photovoltaic and wind power markets is like a true portrayal of the current situation of the two industries. In the first half of 2013, the rapid start of China's photovoltaic market, the budding of overseas emerging markets, and the ups and downs of the European and American markets all contributed to the industry's recovery trend, and also laid a solid foundation for the impressive performance of Sungrow's 2013 mid-year report.
As early as 2012, due to the impact of the "double reverse" in Europe and America and the slow start of the domestic market, the photovoltaic industry continued to slump, and the performance of Sungrow was also suffering. At that time, the company's full-year net profit attributable to shareholders of listed companies fell by 57.81% year-on-year (2012), and its share price also fell to a historical low of 6.53 yuan per share (formerly reinstated) on December 4, 2012.
The company's interim report shows all kinds of sentient beings
Different from Sungrow, the 2013 interim report performance report issued by Amadeon, Hengdian East Magnetics, Chuantou Energy, and Leshan Power revealed the "variety of beings" in the photovoltaic industry.
According to the relevant performance report, in the first half of 2013, Amadeon is expected to achieve a net profit attributable to shareholders of the parent company of 22.8336 million yuan, a year-on-year decrease of 66.83%; Hengdian East Magnetic is expected to achieve 114 million yuan, an increase of 72.14% year-on-year; Sichuan Investment Energy is expected to Achieved 600 million yuan, an increase of 742.31% year-on-year; Leshan Power is expected to achieve 5.614 million yuan, a year-on-year decrease of 39.33%.
Among them, Almaden, which also belongs to the photovoltaic industry, has a very different performance from Sungrow in the first half of this year. The company said through the performance report that the main reason for the decline in performance is due to the adverse effects of the photovoltaic market slump and the EU "double anti". Compared with the same period of last year, the unit sales price of products has dropped significantly, and the gross profit margin has dropped significantly compared with the same period of last year.
In addition, although Hengdian East Magnetics and Sichuan Investment Energy both have impressive performances, the recovery of the photovoltaic market does not seem to provide support for their performance. For example, Hengdian East Magnetics believes that the company's revenue fell by 9.84% in the first half of this year, mainly due to the slump in the solar photovoltaic market. Chuantou Energy said that during the reporting period, its 38.9% shareholding in Shinko Silicon continued to be in a state of technical suspension from production. The company's accumulated losses have increased significantly year-on-year, which has had a certain negative impact on the company's investment income.
Liu Peng told reporters: "The EU's export quota for China's photovoltaics is about 7GW, and China's production capacity is five times this, then in the future, the fierce competition between Chinese photovoltaic enterprises can be imagined. In the European market, customers are Brand recognition and acceptance will be a challenge and an opportunity for every company. After all, 'price commitment' is a double-edged sword, and the loss of low-price advantage is in return for high profits. "
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