Net profit of 17 PV listed companies doubled compared with the same period last year

After the high performance of 2017, this year's photovoltaic companies continue to maintain a good performance. In the first quarter, 26 companies listed in the photovoltaic industry had a net profit of over $100 million, and 17 had a net profit that doubled compared with the same period a year earlier, according to data from Eastern Fortune Chice.

The expansion of PV capacity is also accelerating as the market continues to improve. According to the "Daily Economic News" reporter combs and understands, the industry expansion momentum in the first two months of 2018 has continued unabated, with 26 projects expanding in 2017, and there are also about a dozen projects in May this year.

It is worth noting, however, that while the size of the market has continued to grow, there are also industry concerns about the consequences of excess capacity as the PV industry continues to expand.

Net profit of 17 PV listed companies doubled year-on-year

According to the statistics of the National Energy Bureau, the photovoltaic industry in the first quarter showed a trend of "double rise and double drop". The double rise was the installed capacity and the power generation, and the double drop was the power disposal and disposal rate. Among them, in the first quarter, China added 9.65 GW of photovoltaic installed capacity, an increase of 22 % year-on-year. Distributed PV 7.685 GW, an increase of 217 % year-on-year, and ordinary photovoltaic power station 1.97 GW, a decrease of 64 % year-on-year. The amount of power discarded was 1.62 billion kilowatt-hours, a decrease of 30 % year-on-year. The disposal rate of 4.3 % was significantly lower than that of the previous year.

Thanks to the continuous increase in photovoltaic installed capacity, the performance of photovoltaic companies continued to grow in the first quarter of this year. There were 26 companies listed in the photovoltaic industry with a net profit of over $100 million in the first quarter, and 17 companies with net profits doubling from a year earlier, according to data from Eastern Fortune Chice.

Among them, the Dongxu Blue Sky First Quarter Report showed that the company's operating income was 1.066 billion yuan, an increase of 26.62 % year-on-year; Net profit attributable to shareholders of listed companies was 1.084 billion yuan, a year-on-year increase of 290.08 %. The net profits of Longji's shares and shareholders belonging to listed companies during the same period were 3.47 billion yuan and 543 million yuan, respectively, an increase of 29 % and 24 % over the same period last year.

In terms of year-on-year net profit growth, Beijing Express's net profit growth ranked first, excluding the large increase in net profit caused by the company's huge non-recurring gains and losses in the quarter. According to financial data, Beijing Express's revenue and net profit belonging to shareholders of listed companies in the first quarter of this year were 548 million yuan and 156 million yuan, respectively.

In response, PV industry expert Zhaoyuwen told the "Daily Economic News" reporter: "This year's photovoltaic installed capacity will continue to grow year-on-year, which has also led to an increase in the number of photovoltaic upstream and downstream industrial chain enterprises. This led to continued growth in the first quarter of this year. And as the '630' rush tide approaches, the half-yearly report of photovoltaic companies in the first half of this year will exceed the same period last year and continue to maintain its growth trend. "

Production expansion has been intense this year

The increase in installed capacity and the good performance have also caused photovoltaic companies to increase their production capacity. Among them, polycrystalline silicon, Silicon chips, battery chips, and component enterprises on the industrial chain are all expanding production. In the first two months of 2018, the momentum of expansion of production continued unabated. In 2017, 26 projects were expanded. By May this year, there were also more than a dozen projects.

According to recent news from companies in the upstream raw materials section, Pauli Xiexin said that its total production capacity in Xinjiang is 60,000 tons of polysilicon production base, and it will complete the production of 40,000 tons in the first two phases in 2018; At the same time, Tongwei SHARES stated that its planned Baotou 50,000 tons and Leshan 50,000 tons of Gaochun polysilicon projects will also be put into production in 2018, with a total production capacity of 50,000 tons.

It had hoped to announce plans for its 120000 tonnes of polysilicon project, which will be launched in phase one in 2018.

In the Silicon chip segment, on January 20, 2018, Longji issued the "Three-Year(2018-2020) Strategic Plan for the Single Crystal Silica Business". Longji proposed that the single crystal silicon wafer production capacity should be 15 GW by the end of 2017. On the basis of, strive to increase production capacity to 28GW in 2018; Central SHARES stated that by the end of 2018, they will achieve a total capacity of 23GW for solar-level single-crystal Silicon materials; Meanwhile, the company's 2017 results showed that its Silicon chip production grew 38 % last year to 24GW.

In response, PV industry insider Yechao analyzed the "Daily Economic News" reporter: This trend of capacity expansion will continue for a short period of time. The prospects of the photovoltaic market are huge, and the annual installed capacity is so large. "All major photovoltaic companies have increased their production capacity. From a perspective, they can seize market opportunities to improve the performance of enterprises; However, from another perspective, there will be overcapacity and increase competition in the industry. "

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