Improvement in the overall performance of the photovoltaic industry capital markets warm temperature

In support of national policy and its own efforts, the photovoltaic industry gradually bottomed out. According Flush iFinD statistics show that the first quarter of this year, A-share market listed companies 31 PV achieved operating income of 11.073 billion yuan, down 6.4 percent; realized a net profit of -2.36 billion yuan, down 161.65 percent, of which there are 10 losses . In contrast, last year's report shows that there are 12 loss-making enterprises.

From the net profit point of view, since the first quarter of this year, although the loss of the entire PV industry is still, still sharply year on year net profit, but the ring than last year's fourth quarter, down 1,500% net profit, has been significantly improved. Especially in the current year, reporting the results of a published notice of 17 company, in which there will be three losses, three pre-increase compared to last year, seven year pre-cut, only three continued losses and a first loss. Improvement in the overall performance of the photovoltaic industry is a fact.

Sub-sectors of view, the main industrial chain of photovoltaic cells, modules listed companies benefit from faster. This is mainly due to the global solar cell, module prices and improved capacity utilization, low price of PV modules from the beginning of the $ 0.60 / W up to the current $ 0.72 / watt. The cost of the battery components dropped significantly since last year, not synchronized recovery.

To which the eight component manufacturers listed companies, for example, the average cost of components from 2011 7 to 8 yuan / watt dropped to 2012 from 4 to 4.8 yuan / watt, more than 40% price cut. Which EGing optoelectronics, East Sunrise component costs fell 4.2 yuan / watt, is an industry leader. With shipments are expected to enhance and PV modules prices, they will be the first to benefit.

Oriental Sunrise announcement shows that in 2013 a quarter of the company realized losses, net profit of 7,623,200 yuan, an increase of 2060.21%. A quarter consolidated gross margin reached 28.45%, an increase of 20 percentage points.

By overcapacity and uncertainties such as the impact of photovoltaic equipment suppliers still continue to experience winter, orders fell utilization rate dropped resulting lack of scale of business operations, profitability fell significantly. Although in 2013 a quarter of the chain link equipment losses, but whether it can be sustained remains to be seen.

Data show that, excluding photovoltaicpower plant construction period of long term instability revenue recognition, the 2012 device links operating income decreased by 52.3% in 2013 fell 25.19 percent, are in various aspects of the biggest drop. In addition, from sales margin perspective, year 2012, part of the sales margin decreased equipment 66.35%, 91.15% decline in the first quarter of this year, not only the largest decrease of all sectors, and down the momentum does not change.

From the data perspective, supplies part of the demand is relatively rigid, 2012 and 2013, annual revenues not decline, down 14.35 percent and 2.06 percent, with the decline in product prices, profitability, although still positive diminuendo but net.

Link relative prosperity inverter, modified sine wave inverter year 2012 operating income rose 11.41%, the inverter links the competitive environment compared to the relative ease of assembly areas. I believe that with technology upgrade, the inverter boom is expected to continue, the domestic market will become a big probability mass start event.

PV power plant sectors uncertainty, the data show year 2012 revenue fell 57.44 percent power station, in 2013 a quarter fell 56.05%. The PV power plant with tariff revenues and profits are closely related, prospects need to wait for photovoltaic subsidies fall boots.