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Concord New Energy Unit Buys 323 Million Yuan Worth of Solar Modules From Trina Solar
Boc International: Energy consumption, water consumption, and other indicators are tightening, and the photovoltaic supply side is expected to continue to optimize.
On November 20, the Ministry of Industry and Information Technology released the revised "Specifications for the Infrastructure (2024 Edition)", strengthening the requirements for energy consumption, water consumption, and other indicators at various stages of the industry chain. The difficulty of new capacity for silicon materials, silicon wafers, and batteries has further increased, continuously optimizing the supply side of photovoltaics.
The fluctuation of the photovoltaic cycle far exceeds the past. Representatives of leading companies suggest considering transformation earlier if things are not going well.
① In the case of a divergence between prices and costs, the photovoltaic industry has fallen into a crisis not seen in recent years, with prices at various stages declining by 60%-80% compared to the peak in 2023; ② Long-term losses are unacceptable in any industry, and with market growth slowing, it has become very difficult to resolve the current capacity issues. This cycle may last longer.
Debon Securities: The photovoltaic sector has a high margin of safety, emphasizing opportunities for overall market valuation improvement.
According to CPIA, the domestic production of polysilicon in 24H1 is approximately 1.06 million tons, a year-on-year increase of about 60.6%. The production of silicon wafers is about 402 GW, a year-on-year increase of about 58.9%. The production of solar cells is about 310 GW, a year-on-year increase of about 37.8%. The production of modules is about 271 GW, a year-on-year increase of about 32.2%. The capacity in each major link continues to maintain an upward trend.
Trina Solar Co., Ltd.: The 'deceleration strategy' correctness remains to be observed. Energy storage will become a new profit growth point. | Focus on earnings conference
①In the third quarter, the price of photovoltaic modules continued to decline, but the gross margin of the energy storage business improved, and energy storage will become a new profit growth point; it is expected that by the end of the year, silicon wafer capacity will be 55GW, module capacity will be 120GW, N-type battery capacity will be 70GW, and P-type battery capacity remains to be clarified; ②The industry is facing positive changes, and the industry chain profitability will certainly be restored, but in the future, there will be more and more differentiation space on the brand side, channel side, and customer side.
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