该行指出，基本情况下，明年太阳能玻璃供应过剩，但相信情况已反映在价格之中，下跌风险减少，生产成本可见回升。同时预测明年约10%浮化玻璃产能会于短期步入维修阶段，加上太阳能玻璃供应增加，令浮化玻璃价格及利润受压。Zhitong Financial APP learned that Morgan Stanley released a research report that gave Luoyang Glass shares (01108) and Flat Glass Group (06865) "overweight" ratings, the target price rose from HK $15 to HK $19, from HK $41 to HK $43.70, while Xinyi Glass (00868) and Xinyi Solar (00968) both lowered their target prices from HK $26.6 to HK $20.80, from HK $19 to HK $16.60. The rating is "synchronized with the market" and "increased holdings".
Big Motors said that the sector preferred Luoyang Glass, due to strong production growth, industry acquisitions, parent potential asset injection, overall preference for solar glass over floating glass companies. The bank believes that when the demand for solar glass modules picks up, the price correction of polysilicon will push up the price of solar glass.
Both solar energy and floating glass will face instability in 2022, the report said. Solar glass is currently in stock for more than 29 days, coupled with the off-season of installation in the first quarter of next year, prices will continue to be under pressure next year. As for floating glass, due to the suspension of downstream production, the manufacturer is also prepared to stock for about one month. Until next year's Lunar New year, the bank does not expect a rebound in floating glass prices.
The bank pointed out that under basic circumstances, there will be a glut of solar glass next year, but it is believed that the situation has been reflected in the price, the downside risk has been reduced, and production costs can be seen rebounding. At the same time, it is predicted that about 10% of the floating glass production capacity next year will enter the maintenance stage in the short term, coupled with the increase in the supply of solar glass, putting pressure on the price and profits of floating glass.
