Domestic photovoltaic companies have recently announced their third-quarter financial reports. Although the large-scale losses were expected by the industry as early as possible, when people saw the final released data, people still felt the "coldness" of the PV industry.
By the end of the 23rd, of the 15 PV companies that released the third quarter report at home and abroad, 12 had a net loss. Among them, Suntech Power and LDK Solar had the largest net losses, which were US$ 116.4 million and US$ 114.5 million respectively. CSG, Tongwei and Jinko Energy did not experience a net loss in the third quarter, but their net profits also increased year-on-year. A sharp decline. The average year-on-year growth rate of net profit of 15 PV companies was -220.28%.
By analyzing the quarterly report, the reporter found that for some PV companies, the biggest problem in the third quarter was not the obstruction of shipments, but the sharp drop in prices.
Of the 15 PV companies mentioned above, the number of component shipments grew by more than two-thirds, of which, CEPD said that the total shipments in the third quarter was 116.2 MW (including 115.6 MW of PV module shipments), an increase of 30.1% from the previous quarter. This figure created the company's highest quarter shipment record, but the average selling price of photovoltaic modules was 1.26 US$/W, which has dropped by 23.2% since the second quarter.
Since the beginning of this year, the growth in demand for photovoltaic power generation subsidies has been slowed down in major European markets, resulting in a historically high level of inventory in the industrial chain and a 40% price drop in product prices, which has caused great damage to the company’s profit space.
Xiao Jian, a research fellow at China Investment Consulting Group, believes that the current domestic photovoltaic industry is facing an unprecedented test. The sharp reduction in the installed capacity of photovoltaics in the European market has caught the domestic PV companies that rely heavily on the European market by surprise and suffered heavy losses. In addition, the rapid development of the photovoltaic industry in recent years has resulted in a large number of companies expanding their production capacity and causing severe market saturation. Earlier this month, the US Department of Commerce officially launched an anti-dumping and anti-subsidy investigation against Chinese solar cells (plates) exported to the United States, casting a shadow over the already depressed Chinese photovoltaic industry.
Therefore, what kind of measures PV companies take to get out of the quagmire as soon as possible is paid more attention. Li Shengmao, a senior research fellow at China Investment Consulting Co., Ltd., said that on the one hand, under the current situation that all PV companies are generally relatively large and European and American markets are shrinking, fully tapping the domestic market demand should be the first choice for photovoltaic companies, and in fact, it can also be regarded as a destocking. The process of At the same time, photovoltaic cell and component manufacturing companies can directly expand their business to the field of photovoltaic power plant operation, transforming the simple sale of components into the sale of photovoltaic power plant interests. In addition, major PV companies also need to reduce operating expenses as much as possible and actively tap potential internally.
According to some analysts, China's photovoltaic product manufacturers are expected to reduce component costs to 80 cents/watt next year, which is a drop of 25 cents from the current level. However, industry insiders believe that this target may only be achieved by a few leading companies that can purchase raw materials at discounted prices, and it is expected that the weak trend of the industry will continue into next year.
By the end of the 23rd, of the 15 PV companies that released the third quarter report at home and abroad, 12 had a net loss. Among them, Suntech Power and LDK Solar had the largest net losses, which were US$ 116.4 million and US$ 114.5 million respectively. CSG, Tongwei and Jinko Energy did not experience a net loss in the third quarter, but their net profits also increased year-on-year. A sharp decline. The average year-on-year growth rate of net profit of 15 PV companies was -220.28%.
By analyzing the quarterly report, the reporter found that for some PV companies, the biggest problem in the third quarter was not the obstruction of shipments, but the sharp drop in prices.
Of the 15 PV companies mentioned above, the number of component shipments grew by more than two-thirds, of which, CEPD said that the total shipments in the third quarter was 116.2 MW (including 115.6 MW of PV module shipments), an increase of 30.1% from the previous quarter. This figure created the company's highest quarter shipment record, but the average selling price of photovoltaic modules was 1.26 US$/W, which has dropped by 23.2% since the second quarter.
Since the beginning of this year, the growth in demand for photovoltaic power generation subsidies has been slowed down in major European markets, resulting in a historically high level of inventory in the industrial chain and a 40% price drop in product prices, which has caused great damage to the company’s profit space.
Xiao Jian, a research fellow at China Investment Consulting Group, believes that the current domestic photovoltaic industry is facing an unprecedented test. The sharp reduction in the installed capacity of photovoltaics in the European market has caught the domestic PV companies that rely heavily on the European market by surprise and suffered heavy losses. In addition, the rapid development of the photovoltaic industry in recent years has resulted in a large number of companies expanding their production capacity and causing severe market saturation. Earlier this month, the US Department of Commerce officially launched an anti-dumping and anti-subsidy investigation against Chinese solar cells (plates) exported to the United States, casting a shadow over the already depressed Chinese photovoltaic industry.
Therefore, what kind of measures PV companies take to get out of the quagmire as soon as possible is paid more attention. Li Shengmao, a senior research fellow at China Investment Consulting Co., Ltd., said that on the one hand, under the current situation that all PV companies are generally relatively large and European and American markets are shrinking, fully tapping the domestic market demand should be the first choice for photovoltaic companies, and in fact, it can also be regarded as a destocking. The process of At the same time, photovoltaic cell and component manufacturing companies can directly expand their business to the field of photovoltaic power plant operation, transforming the simple sale of components into the sale of photovoltaic power plant interests. In addition, major PV companies also need to reduce operating expenses as much as possible and actively tap potential internally.
According to some analysts, China's photovoltaic product manufacturers are expected to reduce component costs to 80 cents/watt next year, which is a drop of 25 cents from the current level. However, industry insiders believe that this target may only be achieved by a few leading companies that can purchase raw materials at discounted prices, and it is expected that the weak trend of the industry will continue into next year.
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