On November 22, Hongyuan Green Energy announced that the company's fixed increase amount was only 50,000 tons of high-purity silicon per year from the original 58. Fundraising projects, and the investment amount was also reduced from 4.2 billion yuan to 2.7 billion yuan.
As for why the scale of the investment was suddenly "severely reduced", Hongyuan Green Energy did not explain in the announcement. But perhaps we can get a glimpse of Xiexin Integration, which issued a fixed increase announcement on the same day.
After many adjustments and revisions, perhaps really short of money
, on November 22, Xiexin Integration announced that the Shenzhen Stock Exchange had approved the company's application documents for issuing shares to specific targets. It is understood that the total amount of funds to be raised by GCL Integration is not more than 48.
It is in the digital new energy DataBM. But behind this seemingly smooth, GCL Integration has been adjusted four times and revised several times. On December 10,
2022, Xiexin Integration issued a plan for non-public offering of shares. According to the announcement, Xiexin Integration intends to raise 6 billion yuan (including this number ) for Wuhu Xiexin 20GW (Phase II 10GW) high-efficiency battery project, Xuzhou Xiexin 10GWh intelligent energy storage system project and supplementary liquidity. After the release of the
fixed increase plan, it is estimated that even Xiexin Integration itself did not expect that the next fixed increase plan would be "busy" for nearly a year.
From December 2022 to November 18, 2023, the fourth adjustment plan was issued, which has undergone nearly a year of adjustment and revision. The final fixed increase amount of Xiexin Integration has dropped from 6 billion yuan to 48.
Supplementary liquidity has also dropped from the initial 1.8 billion yuan to 14.
However, Xiexin Integration still insists on this fixed increase, which may be a real lack of money. On the evening of September
28, Xiexin Integration announced that its holding subsidiary, Hefei Xiexin , had signed 4. This interest rate is not only higher than that of the enterprise 3.
It can be seen that even if the financing road ahead is difficult, it can only take time to "grind" if it really has no money. The smooth passage of Xiexin Integration also provides a reference for other photovoltaic enterprises- although financing is difficult, but reasonable financing, the market will still "support" one. The financing situation
of
bipolar reversal in 2023 should be a magical year for photovoltaic enterprises. in the first half of the year, the enthusiasm for financing of 10 billion yuan was high, and in the second half of the year, the termination of shrinkage was very quiet.".
Data show that by the end of July, a total of 60 photovoltaic enterprises have launched a total of nearly 200 billion yuan of refinancing this year. Among them, there are many 10 billion fixed increases. For example, Jingke Energy 's 10 billion yuan fixed increase plan, TCL Central 's 13.8 billion yuan convertible bond financing plan, Tongwei 's 16 billion yuan fixed increase plan, Trina Solar 's 10.9 billion yuan fixed increase plan..
Some enterprises will increase consolidation
, but in the second half of the year, according to digital new energy DataBM.
On July 12, Yijing Optoelectronics announced that it would withdraw its plan to increase the company's shareholder's energy by 1.3 billion yuan; On
1 August, Ganjing Garden announced the termination of the fixed increase to Guosheng Energy. 4
. Some enterprises, such as Xiexin Integration and Hongyuan Green Energy, are still sticking to the fund-raising plan. But the amount of money raised has fallen again and again.
But why is it suddenly so difficult for hot photovoltaic companies to raise funds? On October 24, Chen Gang , chairman of Aixu Co., Ltd., pointed out at a forum on the exchange of leading listed companies in the photovoltaic industry: "Now the secondary market reflects the most pessimistic sentiment about photovoltaic expectations.". Investors will worry about overcapacity and lower profits. After the crazy expansion of production
in 2022, "overcapacity" has become an unavoidable topic in the photovoltaic industry. Although photovoltaic enterprises are optimistic about the problem of overcapacity, the fact of overcapacity is placed in front of the capital market and has to be treated with caution.
Second, the current policy tightening. On August 27, the Securities Regulatory Commission issued a new regulatory requirement for refinancing in the Regulatory Arrangement for Balancing and Optimizing IPO and Refinancing in the Primary and Secondary Markets. We should not only restrict the refinancing of listed companies with break-out, break-out, sustained loss of operating performance and high proportion of financial investment, but also pay attention to the necessity of enterprise financing and the timing of issuance, and strictly enforce the financing interval.
Although the current financing is so difficult, there are also "head iron" enterprises still moving forward. On the evening of November
23, Xinzhu shares issued a plan announcement to issue shares to specific targets. Xinzhu intends to raise no more than about 8. However, it is still unknown whether this plan can be implemented smoothly.
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