Photovoltaic glass is a special glass that can generate electricity using solar radiation by laminating into a solar cell, and has a related current ejection device and cable. It has the advantages of beautiful, transparent and controllable, energy-saving power generation and it does not require fuel, does not produce waste gas, no waste heat, no waste residue, no noise pollution, and is widely used, such as: solar smart windows, solar pavilions and photovoltaic glass building roofs, as well as photovoltaic glass curtain walls and so on.
Photovoltaic glass is located in the middle of the photovoltaic industry chain, due to the poor mechanical strength of crystalline silicon cells, and its electrodes are easily subject to moisture in the air and corrosive gas oxidation and rust, so its application in the open air environment is greatly limited, so usually the use of photovoltaic glass and backplane through the EVA film to seal the cells in the middle, which can protect the battery from moisture, oxygen and other gas oxidation and corrosion.
After that, the aluminum frame and wiring gold are installed, which are encapsulated into solar cell modules, which are divided into single glass modules and double glass modules according to the material on the back of the modules. Finally, it is combined with the inverter to form a photovoltaic power generation system.
Photovoltaic glass as the upstream raw materials of photovoltaic modules, its strength, light transmittance, etc. directly determine the life and power generation efficiency of photovoltaic modules, and are essential materials for the production of crystalline silicon photovoltaic modules, so the photovoltaic glass industry is an important part of the photovoltaic industry. Photovoltaic glass is mainly divided into ultra-white calendered glass and ultra-white float glass, and ultra-white calendered glass occupies a larger share in the market.
Photovoltaic glass is also following the silicon wafer, it is estimated that the larger the size, the better. At the same time, photovoltaic glass also needs research and development, and it also needs to improve efficiency through research and development.
Look again,
Recently, Follett has changed,
In October 2021, the applicant proposed to purchase 100% of the equity of Dahua Mining and 100% of the equity of Sanli Mining held by Fengsha Group for RMB365,000.00 million, and the equity acquisition constitutes a major asset restructuring of the listed company according to the Measures for the Management of Material Asset Restructuring.
The SEC asked him why he was doing this?
He made some replies, still interesting, recorded here,
1, increase the listed quartzite mineral resource reserves quartz sand is one of the important raw materials of the company's photovoltaic glass products, quartz sand grade has an important impact on the quality of photovoltaic glass, while the supply price of quartz sand will have an important impact on the cost of photovoltaic glass products. The two quartzite mines owned by the target companies of the equity acquisition (Dahua Mining and Sanli Mining) belong to large-scale quartzite mines, with abundant reserves of quartzite resources and excellent grades. After the completion of the equity acquisition, the company will obtain rich quartzite resource reserves (49.263 million tons), which will help ensure the sand demand and quality safety of the company's production base, reduce the company's dependence on purchasing quartz sand, and further enhance the company's anti-risk ability and ability to continue to operate.
As a leading supplier of photovoltaic glass in China, the company's products have been unanimously recognized by customers, and the demand for customer orders has been increasing, with the company's Anhui production base and Vietnamese production base photovoltaic glass melting kilns ignited and put into operation in recent years, the company's production capacity has also been steadily expanded. The company's production capacity has expanded rapidly, and the demand for high-quality quartz sand as the main raw material has also grown rapidly. The company needs to obtain a continuous and stable supply of quartz sand through the acquisition of high-quality quartzite mines to ensure the achievement of the company's strategic objectives.
As one of the important raw materials of the company's main product photovoltaic glass, the fluctuation of its procurement cost will have a certain impact on the product cost and performance of listed companies.
In recent years, with the continuous strengthening of environmental protection and safety production supervision, enterprises that cannot meet safety production conditions or environmental protection standards have been shut down and stopped, and the output of quartzite ore has declined, while the market demand has been expanding because of its wide range of applications, resulting in an increase in the gap between supply and demand of quartzite raw ore and processed products, and the market price has shown an upward trend. Through the layout of upstream quartzite mineral resources, the company will further improve the self-sufficiency rate of the company's quartz sand, which is conducive to controlling and stabilizing the quality and price of the main raw materials.
At the same time, the quartzite mine of Dahua Mining and Sanli Mining is located in Fengyang with Anfu Glass, the main production subsidiary of the listed company, and on-site mining and processing have reduced transportation costs, which is conducive to the listed company to further control production costs and improve the overall competitive advantage and profitability of the listed company. In summary, with the rapid expansion of the company's photovoltaic glass production capacity, the company's photovoltaic glass with quartz sand use is also growing rapidly, this acquisition will help the company to obtain a wealth of quartzite ore resource reserves, to meet the needs of listed companies' capacity expansion, reduce the fluctuation of quartz sand raw materials, especially the impact of the sharp rise on the cost and performance of listed companies, further enhance the company's anti-risk ability and ability to continue to operate, and ensure the realization of the company's strategic objectives, which is necessary.
Note here that its assessment of the company's mineral mining rights more than doubled, or 675 million, which led to an 11-fold surge in shareholders' equity. Therefore, the CSRC came to inquire about the letter.
In other words, in the current environment, listed companies feel that mining rights are becoming more and more difficult to obtain.
Follett will expand its production capacity in the next 2 years.
So Follett may face such a situation,
The good news is that
1, capacity expansion
2, the demand is relatively clear
3. The price fluctuates in a range
4, the national policy is supported, manufacturing, industry-leading, leading enterprises
5, the industry pattern may have stabilized in the duopoly stage (Xinyi Solar vs Follett)
Xinyi Solar: A photovoltaic glass production line with a total daily melting capacity of 7,800 tons in 2019, with a new capacity of 6,000 tons planned, a production capacity of 11,800 tons per day in 2020, and a total of 13,800 tons per day in 2021.
Follett Glass: Photovoltaic glass production line with a total daily melting capacity of 5,400 tons per day in 2019, with a new production capacity of 4,400 tons planned, reaching 7,400 tons/day and 9,800 tons/day by 2020 and 2021, respectively. According to the company's A-share issuance plan, it is expected that the company's forward production capacity will reach 12,200 tons/day
As shown in the following figure:
This annual growth rate is very alarming.
I think the main reason for the bearishness is that natural gas is one of the main costs of producing glass, and the current global natural gas price remains high, which has a relatively large impact on the production cost of glass.
From the perspective of investment, the proportion of inverters and glass in the auxiliary materials of the previous photovoltaic system is relatively large. It is also a key component to improve operational efficiency.
In addition - Follett's free cash flow is significantly outflowed, showing a high impulse to expand,
Constant financing.
tactics:
not
* Keanu Reeves is still so handsome when he is old.
2022.3.6
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