Every reporter: Xu Shuai Every editor: Liang Xiao
On the evening of today (February 24), another listed company – Shanghai CNC (603185, SH) – threw out a silicon material expansion plan.
According to the announcement disclosed by Shanghai CNC, the company plans to build a project with an annual output of 150,000 tons of high-purity industrial silicon and 100,000 tons of high-purity crystalline silicon. The entire project is divided into two phases for specific implementation. The first phase has a design capacity of 80,000 tons of high-purity industrial silicon projects and 50,000 tons of high-purity crystalline silicon projects. The second phase of the project will be advanced according to market conditions. The total investment of the project is expected to be 11.8 billion yuan, and the investment of the first phase of the project is expected to be 6 billion yuan.
The silicon material production plan of Shanghai CNC Machine Tool Co., Ltd. is not only related to the high price of the product, but also regarded as a move that all links in the industry chain go hand in hand. At the same time, Shanghai CNC also disclosed a convertible bond financing plan, which plans to add an annual production capacity of 10GW of photovoltaic monocrystalline silicon.
Silicon wafer companies overweight silicon materials
This evening, Shanghai CNC announced that the company is preparing to build a project with an annual output of 150,000 tons of high-purity industrial silicon and 100,000 tons of high-purity crystalline silicon. The entire project is divided into two phases for specific implementation. The first phase has a design capacity of 80,000 tons of high-purity industrial silicon projects and 50,000 tons of high-purity crystalline silicon projects. The second phase of the project will be advanced according to market conditions. The total investment of the project is expected to be 11.8 billion yuan, and the investment of the first phase of the project is expected to be 6 billion yuan.
Shanghai CNC said that the company has invested in the construction of photovoltaic monocrystalline silicon business since 2019, and its production capacity has continued to expand, and the demand for raw materials has gradually increased during the production process. In order to ensure the supply of raw materials, the company plans to carry out a silicon material production plan. Judging from the investment progress, the CNC machine is expected to reach production in 2023.
CNC also mentioned that at present, the market supply of raw material polysilicon is relatively tight, and the price has increased greatly. The company’s monocrystalline silicon production capacity continues to expand, and the existing monocrystalline silicon production capacity has reached 30GW, and the demand for raw materials has gradually increased during the production process. This investment will help the company obtain a new channel for a stable supply of silicon materials and ensure the supply of raw materials.
The on-machine numerical control in the silicon wafer link is now also expanding to the upstream silicon material. This is not surprising. After all, in the past two years, the silicon material link has been able to obtain excess revenue in the entire photovoltaic industry chain.
According to Antaike data on February 23, the domestic single crystal re-feeding price range this week is between 240,000 yuan / ton and 249,000 yuan / ton, and the average transaction price has risen to 244,900 yuan / ton, a week-on-week increase of 0.78%; The price range of crystalline dense materials is between 238,000 yuan / ton and 247,000 yuan / ton, and the average transaction price rose to 242,400 yuan / ton, a week-on-week increase of 0.71%.
Antaike predicts that the monthly output of silicon wafer companies is expected to be around 23.6GW after the operating rate is increased, and the domestic silicon material market supply will remain relatively short in March.
Combing the performance forecast of silicon material enterprises, it is found that upstream silicon material enterprises generally report good news. On the evening of February 13, Tongwei Co., Ltd. (600438, SH) disclosed its 2021 performance report, achieving a total operating income of 66.602 billion yuan for the year, a year-on-year increase of 50.68%; the net profit attributable to shareholders of the listed company was 8.203 billion yuan, a year-on-year increase. 127.35%.
On January 24, Daqo Energy (688303, SH) disclosed a performance pre-increase announcement. It is expected that the net profit attributable to owners of the parent company will be 5.6 billion to 5.8 billion yuan in 2021, a year-on-year increase of 436.69% to 455.86%.
Previously forecasted a substantial increase in performance last year
The “Daily Economic News” reporter noticed that the extension of the industrial chain of CNC machine is not necessarily due to the high price of silicon materials, but also the consideration of its own expansion to ensure the supply chain.
This evening, Shanghai CNC simultaneously announced its silicon wafer expansion plan. The company plans to issue convertible bonds to raise 2.47 billion yuan for the purchase and installation of monocrystalline furnaces, slicers and supporting equipment required to meet the annual production capacity of 10GW monocrystalline silicon wafers. . The total investment of 10GW monocrystalline silicon wafer reached 3.5 billion yuan.
In the stage of high photovoltaic development, in the past two years, CNC CNC has tasted the sweetness through capacity expansion.
According to the performance forecast of the computer numerical control, after preliminary accounting, the company achieved operating income of 10.906 billion yuan last year, a year-on-year increase of 262.22%; the net profit attributable to shareholders of the listed company was 1.637 billion yuan, an increase of 208.01% year-on-year; The net profit of recurring gains and losses was 1.471 billion yuan, a year-on-year increase of 187.18%. The main reason for the increase in performance is 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 production capacity utilization rate and production and sales rate will remain at a high level. The sales scale of the company’s monocrystalline silicon business continued to expand, and the growth in sales revenue drove the company’s performance to rise steadily.
Compared with last year’s capacity expansion in the midstream segment, SNC paid more attention to the control of the upstream industry this year.
In fact, this year, the expansion of the upstream silicon material segment has continued unabated. In addition to new players such as computer numerical control, old players are also expanding production capacity. For example, Daqo Energy disclosed its refinancing plan at the beginning of this year. It plans to raise no more than 11 billion yuan, mainly for the project with an annual output of 100,000 tons of high-purity silicon-based materials and to supplement working capital. Among them, the total investment of high-purity silicon-based material projects is 80% billion.
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