On January 26, 2022, a world-renowned manufacturer of photovoltaic productsJinkoSolarLimited by Share Ltd (hereinafter referred to as “”JinkoSolar”, code 688223.SH) successfully listed on the Science and Technology Innovation Board. On the first day of listing,JinkoSolarThe opening price was 8.5 yuan per share, up 70% from the issue price. After the opening, JinkoSolar’s stock price rose rapidly, and its market value exceeded the 100 billion mark, with the highest intraday increase of 139%.
The global layout meets the vertical integration of the industry, and the vertical integration is fully consolidated
According to public information, JinkoSolar was established in 2006 and is currently mainly engaged insolar energyphotovoltaic modules,Battery, silicon wafer research and development, production and sales. Having been deeply involved in the photovoltaic industry for 16 years, JinkoSolar has grown into a world-renowned manufacturer of photovoltaic products.
In order to further optimize production capacity planning and deliver low-cost, high-efficiency high-quality photovoltaic products to global customers, JinkoSolar has established a three-dimensional sales layout of “globalization and localized operation”.
Up to now, JinkoSolar has established overseas production bases in Malaysia, Vietnam and the United States, and established overseas sales subsidiaries in more than ten countries around the world, and its products have been sold to more than 160 countries and regions around the world. According to public information, JinkoSolar occupies a market-leading position in more than half of the top 10 global markets.
After years of global operation, JinkoSolar has built a good brand image and helped it win many major bidding cases.For example, not long ago JinkoSolar continued toSinopec、China Petroleum、CNOOCAchieve strategic cooperation or achieve project delivery. According to the prospectus, JinkoSolar currently has production bases in 6 provinces and autonomous regions including Jiangxi, Zhejiang, Sichuan, Xinjiang, Anhui, and Yunnan (under construction).
According to the prospectus, during the period from 2016 to 2019, JinkoSolar ranked the forefront of global PV module shipments for four consecutive years. As of the end of the first half of 2021, JinkoSolar’s cumulative module shipments exceeded 80GW, establishing a good market position globally.
It is worth mentioning that, after years of development, JinkoSolar has formed a “vertically integrated” industrial chain layout, which can cover silicon rods/ingots, silicon wafers,BatteryIt has accumulated rich experience in various production process segments and established the advantages of industrial chain integration. Through a vertically integrated competitive strategy, JinkoSolar can better reduce the cost of core products, expand production capacity, and enhance the added value of products.
In recent years, the country has intensively introduced a series of policies around the goal of “carbon neutrality”. Among them, the photovoltaic industry has been listed as one of the national strategic emerging industries, and the industry has ushered in new opportunities for development.In this issuance, JinkoSolar raised a total of 10 billion yuan, which will be used to further improve the company’s N-type high efficiencyBatteryand R&D and production capacity of high-efficiency module products, thus effectively consolidating and enhancing JinkoSolar’s operationsperformancewith leading market position.
Leading technology layout leads industry development “Policy + economy” creates a sunny track
On the day of listing,Sinolink SecuritiesCovered JinkoSolar (688223.SH) for the first time with a Buy rating. It believes that with this listing, JinkoSolar is expected to further consolidate its integrated cost advantage. With the rapid development of TPOCon products, companies are expected to enjoy a premium on differentiated products.
At present, JinkoSolar’s N-type TOPCon cell technology has established a significant leading edge in terms of efficiency, yield and scale, and is leading the transformation and upgrading of the next generation of photovoltaic technology. In 2021, the conversion efficiency of JinkoSolar’s N-type TOPCon cells will set a new record four times in the same year, and the conversion efficiency will reach 25.4%. JinkoSolar also took the lead in commercializing the leading N-type technology-Tiger Neo, promoting the industry to upgrade to N-type with practical actions.
At the same time, the company is also accumulating forward-looking technologies in the fields of photovoltaic hydrogen production and energy storage, and continues to expand the large-scale application scenarios of photovoltaics in the fields of production and life, construction and transportation, and strives to build a “clean energy ecosystem” and incubate new businesses. growth pole.
In recent years, the country has intensively introduced a series of policies around the goal of “carbon neutrality”. Among them, the photovoltaic industry has been listed as one of the national strategic emerging industries, and the industry has ushered in new opportunities for development. In October 2021, relevant departments issued the Action Plan for Carbon Peaking by 2030. The plan emphasizes that the optimization of the building energy structure should be accelerated. Deepen the application of renewable energy in buildings, and promote the application of photovoltaic power generation and building integration.
With the help of multiple favorable factors such as policy, economy, and market demand, the photovoltaic industry is expected to make great breakthroughs in the industrial chain and application scenarios. JinkoSolar will further consolidate and enhance its leading position in industry competition with its leading industrial chain layout, continuous iterative technological breakthroughs and high-quality brand effects.
At the beginning of 2022, JinkoSolar successfully landed on the Science and Technology Innovation Board, adding another member to the A-share photovoltaic 100 billion club. With the support of the capital market, JinkoSolar is expected to further enjoy the dividend effect of the development of the times. In addition to consolidating the leading position of global photovoltaic modules, it will achieve leapfrog development and continue to lead the innovation and development of China’s photovoltaic industry.
Li Xiande, Chairman of JinkoSolar, said at the listing ceremony: “It is a new starting point for JinkoSolar to be listed on the SSE STAR Market. I am very honored and I feel that I have a heavy responsibility on my shoulders. JinkoSolar will make persistent efforts and continue to use the STAR Market platform to continue. Consolidate its own industry status and technological advantages, lead the industry towards higher-quality development, help the country to achieve the 3060 dual-carbon goal, and strive to become a leading enterprise with long-term investment value in the capital market.”
(Article source: China Economic Net)