The production capacity is released, and the performance of the silicon wafer track has exploded.

　　Securities Times reporter Ye Lingzhen

　　On the evening of February 15th, the new heavyweight silicon chip player's numerical control performance report was released. According to preliminary calculations, the operating income in 2021 will be 10.906 billion yuan, a year-on-year increase of 262.22%; the net profit is 1.637 billion yuan, a year-on-year increase of 208.01%. Both hit new highs.

　　The downstream photovoltaic installed capacity demand is strongly driven, and the upstream silicon material price support is superimposed. The silicon wafer track maintains a high degree of prosperity. Veterans and rookies are showing their talents, and 2021 will be fruitful.

　　Great performance foreshadowing

　　In fact, the growth of CNC CNC has already appeared in the performance forecast released in January.

According to the forecast at the time, the company expects that the net profit level in 2021 will be between 1.63 billion yuan and 1.8 billion yuan, a year-on-year increase of 207% to 239%.

The net profit disclosed in this express is 1.637 billion yuan, which is stuck at the lower limit of the notice.

In addition to the net profit data, the express also disclosed more information on incremental performance, such as operating income of 10.9 billion yuan, a year-on-year increase of 262%; net profit after deduction of non-existing income was 1.47 billion yuan, a year-on-year growth rate of 187.18%; basic per share The income reached 6.08 yuan, a year-on-year increase of 163%; however, the weighted average return on equity was 26.55%, down 0.63 percentage points from the same period last year.

　　Regarding the reasons for the growth in performance, SNC stated that in 2021, the company will continue to expand the scale of monocrystalline silicon business as planned, the production capacity will continue to increase, and the capacity utilization rate and production and sales rate will remain at a high level. Currently, it has a monocrystalline silicon production capacity of 30GW.

Starting from silicon material production equipment, Shanghai CNC entered the field of monocrystalline silicon production in 2019. Taking advantage of the east wind of the photovoltaic industry, it has tasted the sweetness when it first entered the market, and the average annual growth rate of net profit is nearly 2 times.

　　In the hot silicon wafer track, the growth trend of on-machine CNC is not an isolated case.

Since January, a number of silicon wafer companies have released performance forecasts and have reported good news.

　　"Photovoltaic veteran" Zhonghuan Co., Ltd. is expected to achieve revenue of 40 billion to 42 billion yuan in 2021, a year-on-year increase of 109.9%-120.39%; net profit of 3.8 billion to 4.2 billion yuan, an increase of 248.95% to 285.68% over the same period last year; Although another silicon wafer leader, LONGi, has not disclosed its performance forecast, it has achieved a net profit of 7.556 billion yuan in the first three quarters, with a growth rate of 19%, maintaining a steady growth trend.

　　"Photovoltaic Rookies" Beijing Express and Shuangliang Energy also performed well.

According to the data, Beijing Express expects to achieve a net profit of 770 million to 920 million yuan in 2021, a year-on-year increase of 75% to 110%. %-90%; although Shuangliang's energy-saving silicon wafer business has not contributed to profits, based on the existing polysilicon reduction furnace and other businesses, it is expected to achieve a net profit of 285 million yuan to 325 million yuan, a year-on-year increase of 107.4% to 136.5%.

　　Many companies are locked

　　Driven by downstream demand, silicon wafer companies have set off a wave of production expansion, and in the process of releasing production capacity one after another, the downstream has also accelerated to lock in the supply of raw materials, and large orders have frequently emerged on the track.

　　In December 2021, Beijing Express announced an investment plan of 5.5 billion yuan to build a 22GW high-efficiency monocrystalline silicon ingot and slicing project in Wutongqiao District, Leshan City, Sichuan Province; on the same day, the company announced that it had won 600 million yuan from three companies including Guangdong Aixu Technology Co., Ltd. Monocrystalline silicon wafer purchase orders, the estimated sales amount is about 3.6 billion yuan.

　　In February 2021, Shanghai CNC plans to build a 10GW monocrystalline silicon pulling and supporting production project in Baotou, with a total investment of about 3.5 billion yuan.

In October 2021, SHNC reached a sales contract with Zhejiang Aixu Solar Technology Co., Ltd. and other companies, and planned to supply 780 million monocrystalline silicon wafers to the latter, with a contract value of about 5 billion yuan.

　　Shuangliang Energy Conservation will build a 40GW monocrystalline silicon project in Baotou in 2021, of which the first phase has a planned production capacity of 20GW and an investment scale of 7 billion yuan; in January this year, the second phase of the 20GW large-scale monocrystalline silicon wafer project was launched, with a total investment of 6.2 billion yuan Yuan.

Although the production capacity of the second phase of the project has not been released for two years, orders have already arrived one after another. Since the beginning of 2022, the total amount of orders has exceeded 20 billion yuan.

　　Since the end of 2021, the price of silicon wafers has fallen first and then rose, constantly stirring the nerves of the photovoltaic market.

On January 16 this year, LONGi announced to raise the quotations of G1, M6 and M10 silicon wafers by 2.5%, 2.4% and 5.1% respectively. For example, the price of silicon wafers with different specifications has been increased by 0.4 yuan/piece to 0.92 yuan/piece, with a maximum increase of 12.3%.

　　The CITIC Securities Research Report pointed out that the price increase of silicon wafers in this round is caused by the increase in the price of silicon materials on the one hand, and on the other hand, it reflects the strong terminal demand.

The price of silicon material has risen to more than 230 yuan/kg from the previous low of 220 yuan/kg. In terms of terminal demand, the overseas Indian and European markets are the main sources of demand.

At present, the most tense link in the supply and demand of the industrial chain is silicon material and EVA particles, and with the gradual expansion of silicon material production capacity, the price is expected to fall further.