How significant is the impact of a 30% production reduction by the photovoltaic glass giant? Flat Glass Group: The customer procurement intention is stable | Coverage of the earnings conference.
1. Market rumors: Xinyi Solar and Flat Glass Group, along with ten other photovoltaic glass giants, jointly reduce production by 30%. Ruan Hongliang, the director of Flat Glass Group, denied the joint production cut and emphasized that it was an individual company action; 2. The reduction in production by the giants did not boost demand. The company stated that the purchasing intention of downstream customers remained stable on a month-on-month basis; 3. The price reduction of photovoltaic glass has caused investors to worry about the company's performance in the second half of the year.
Longi Green Energy Technology: It is expected that the price of silicon wafers has reached its lowest point and will only increase in the future, not decrease. | Live coverage of the earnings conference
①Longi green energy technology releases confidence to investors. Considering the current situation in the industry where cash costs are generally in a loss, the price of silicon wafers will only rise, not decrease. ②However, the management believes that all links currently face ongoing operational pressure, and the timing of price adjustments remains unclear.
Express News | Hong Kong electric power equipment stocks have risen against the market, with Tianneng Power up more than 15%, Flat Glass up nearly 7%, Xinyi Solar up nearly 5%, and Chaowei Power up more than 3%.
Component quantity increased and prices decreased. Trina Solar Co., Ltd. saw a decline in revenue and net profit in the first half of the year, with inventory value exceeding 30 billion yuan.
① In the first half of the year, the company's module shipments were 34GW, an increase of over 25% year-on-year; in contrast, module revenue was 30.057 billion yuan, a decrease of 11.52% year-on-year. During the reporting period, the company's inventory depreciation losses and impairment losses on contract performance costs were 0.502 billion yuan. ② The company's Indonesian base (1GW battery, 1GW module) and US base (5GW module) are expected to start production in the second half of 2024.
Improvement in water supply situation, China Yangtze Power's net profit in the first half of the year increased by nearly 30% year-on-year | Interpretations of financial reports
① The water supply situation for hydropower has improved year-on-year, with China Yangtze Power earning more than 11 billion yuan in the first half of the year; ② In the first half of the year, the company installed 71.695 million kilowatts of domestic hydropower, accounting for 16.79% of the national hydropower installation.
Intensified competition on the supply side, shuangliang eco-energy systems, the new star of silicon wafers, suffered a loss of over 1 billion yuan in the first half of the year. | Interpretations of financial reports
①Shuangliang Eco-energy Systems reported a net loss of over 1.2 billion yuan in the first half of the year, with a loss of 0.963 billion yuan in the second quarter, marking the largest quarterly loss in nearly five years. ②The company's asset-liability ratio has reached 81.5%, indicating significant debt repayment pressure. ③The current silicon wafer price is in a fierce game, and in the medium to long term, the supply-demand pattern of silicon wafers is clearly improving, which will provide some support for this round of price increases.