On December 14, the record of investor relations activities of Junda shares was released. In response to questions about the status of the company's Huai'an Phase II project, Junda said that half of the Huai'an Phase II project with an annual output of 13 GW had reached production capacity, while the other half of the capacity was released relatively slowly due to customers'differentiated demand for rectangular sheet size and the company's latest generation of TOPCon battery technology upgrade.
The following is the original text of the interaction:
Question 1: How is the company's capacity expansion planned in the future, and what is the current progress of overseas sales?
Answer: At present, the production capacity of Chuzhou Base and Huai'an Base of the Company is progressing steadily according to the preliminary plan. In the future, the company will comprehensively evaluate the feasibility of expanding production capacity at home and abroad according to the changes in market demand and the research and development of the next generation technology. In 2023, the company actively explored overseas markets, and achieved overseas sales growth from 0% to 4.66% in the first three quarters, with remarkable results in overseas market expansion. Next, the company will continue to build a global customer sales system, and constantly enhance the company's global market competitiveness.
Question two: The company is about to usher in the lifting of the ban on additional shareholders, is there any pressure to reduce? How is the company's share repurchase arranged?
Answer: In the first half of 2023, the Company raised RMB 2.776 billion. The shareholders who participated in the company's fixed increase included local government capital that supported the company's long-term development, well-known public funds that accompanied the company's growth for a long time, and some overseas QFII and well-known individual investors. The above investors have a better understanding of the photovoltaic industry and the company's business situation, and are more optimistic about the photovoltaic industry and the company's long-term development when they participate in the company's fixed growth in the early stage. The company believes that the shareholders of this fixed increase are long-term value investments. They pay more attention to the upgrading of photovoltaic cell technology and the future demand growth of the photovoltaic industry, and recognize the long-term investment value of the company and the photovoltaic industry. Based on the concept of long-term investment of fixed-increase shareholders, the company has no short-term reduction pressure. The Company's repurchase is currently under active planning, and the Company will carry out share repurchases as planned in accordance with relevant laws and regulations.
Question 3: What is the current status of the company's Huai'an Phase II project?
Answer: Half of the Company's Huai'an Phase II project with an annual output of 13 GW has reached production capacity, and the other half of the production capacity has been released relatively slowly due to the differentiated demand of customers for rectangular sheet size and the upgrade of the Company's latest generation of TOPCon battery technology. At present, the company is actively communicating with customers about the size details of the production line and upgrading new technology and equipment, and will normally promote the release of production capacity after completion.
Question 4: How to plan PERC production capacity of Shangrao Base in the future, whether to upgrade or prepare for impairment?
Answer: The production line of Shangrao Base of the company has reserved space for TOPCon upgrading and transformation during the design. At present, the production line is in normal production. In the future, the company will decide whether to upgrade this part of the production line to TOP Con according to the change of market demand, the investment cost of upgrading and transformation and other factors.
Question 5: What is the progress of the company's current BC battery technology research and development, and whether it will make its own components in the future?
Answer: The company has made positive progress in the research and development of BC battery products in terms of conversion efficiency and cost. At present, the company has mastered the BC technology based on TOPCon, and continues to promote the mass production of N-type BC products. Follow-up companies will carefully analyze and make decisions according to the specific market conditions, and timely launch corresponding products. At present, the company has no plans to involve components, the company focuses on the core technology of photovoltaic, continuous R & D investment to maintain the scale of production capacity and technology leadership, and continuous development.
Question 6: When does the company expect the profit of the battery industry to improve?
Answer: The current PV installed capacity has entered the traditional off-season due to holidays, climate and other reasons, and the continued downward trend of component prices has affected the profitability of all links in the industry chain to a certain extent, which is the normal stage characteristics of the industry. It is expected that after the Spring Festival next year, with the increase of global demand for photovoltaic installations, the profits of all sectors of the industry will return to normal levels.
Question 7: What are the key areas of the company's overseas customer sales and the key areas of overseas market development?
Answer: At present, the company's overseas markets mainly include Southeast Asia, Europe and other places. At the same time, the company is also actively completing customer certification in emerging markets such as the Middle East, North America, Latin America and Australia, and continuing to build a global customer sales system.
Question 8: Is there any potential intellectual property risk in the company's BC battery?
Answer: The company attaches great importance to R & D and innovation of technology, and also pays attention to the screening and protection of intellectual property rights. The company has established a relatively complete product research and development system. In the process of selecting different technology routes and research and development, the company will first conduct research on patented technology, and on this basis, carry out technology research and development work, so as to effectively avoid intellectual property risks.
Question 9: When will the non-silicon cost of the company's TOPCon battery be equal to that of PERC?
Answer: The non-silicon cost of TOPCon battery is higher than that of PERC, which is determined by the complex process of TOPCon. The thin design of TOPCon cell makes the cost of TOPCon lower than that of PERC, and the higher conversion efficiency of TOPCon cell can make up for the increase of non-silicon cost. The company believes that the competitive advantage of TOPCon battery is mainly reflected in the conversion efficiency. With the further upgrading of TOPCon technology, it is predicted that the conversion efficiency of TOPCon battery will be increased by 0.05% -0.1% on the basis of 26% next year, and the market competitiveness of TOPCon battery products will be further strengthened.
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