On May 9, the official website of Shenzhen Stock Exchange showed that the GEM IPO of Huayao Optoelectronics Technology Co., Ltd. (Hereinafter referred to as "Huayao Optoelectronics") had been accepted . According to
the prospectus, Huayao Optoelectronics plans to publicly issue no more than 79 million shares and raise 2.905 billion yuan . It will be used for the construction of 12 GW monocrystalline silicon wafer production and annual production of 10 GW high-efficiency N-type (heterojunction) batteries .
Source: Huayao Optoelectronics
was founded on August 1, 2019, with a registered capital of 237 million yuan. It is an enterprise mainly focusing on the production and manufacture of monocrystalline silicon rods and wafers in the photovoltaic industry chain.
From 2020 to 2022, Huayao Optoelectronics achieved revenues of 147 million yuan, 2.087 billion yuan and 4.563 billion yuan respectively, and net profits of 3.2395 million yuan, 201 million yuan and 287 million yuan respectively. During the reporting period, revenue and profits increased steadily year by year. During the same period, the company's comprehensive gross profit rate was 14.94%, 15.63% and 13.90%, respectively.
After more than three years of development, by the end of 2022, the company has formed a production capacity of about 11 GW monocrystalline silicon rods and 9 GW monocrystalline silicon wafers. In 2022, the sales volume of monocrystalline silicon wafers will be about 5.58 GW. If the output of China's silicon wafer industry in 2022 is 357 GW, the current market share of the company is about 1.56%, which has a certain competitiveness in the silicon wafer industry.
In addition, the new energy micro-newspaper DataBM. Com also noted that Huayao Optoelectronics had external processing in the previous three years. From 2020 to 2022, the amount of monocrystalline silicon wafers processed by the company through outsourcing is 2613.77, 0.4 19331 and 0.91 million 11383, accounting for 100%, 47.76% and 15.76% of the total output of the company's silicon wafers.
Source: Prospectus
of Huayao Optoelectronics In this regard, Huayao Optoelectronics said that the expansion speed of the company's rod drawing link was faster than that of the slicing link, and there was a stage gap in the slicing capacity. In order to meet the market demand, the company adopted the outsourcing processing mode to produce some silicon wafers.
This time, the 1.134 billion funds raised will be used for the construction of 12 GW monocrystalline silicon wafer production project, which is also to make up for the company's insufficient production capacity of monocrystalline silicon wafers.
In view of the heterojunction battery project, the new energy micro-newspaper DataBM. Com found that as early as June last year, Huayao Light Energy began to enter the layout. On June 30,
2022, the foundation laying ceremony of Huayao Optoelectronics 10GWN-type high-efficiency photovoltaic module and 10GW heterojunction battery project was held in Jintan District, Changzhou, Jiangsu Province, with a total investment of 6.5 billion yuan.
Subsequently, in August, Huayao Optoelectronics signed a 10g W photovoltaic N-type cell project with the Management Committee of Hohhot Economic and Technological Development Zone. The total investment of the project is 6 billion yuan, which is divided into two phases. The first phase is expected to start construction in the first half of 2023 and be completed and put into operation in 2024.
In addition to the contracted projects, the company also disclosed the situation of N-type silicon wafer products in the prospectus. The company's current N-type monocrystalline silicon wafer product M10 has reached a large size of 182mm * 182mm; and the company has the capacity of mass production for N-type monocrystalline silicon wafers with a thickness of 120μm. The product characteristics of
large size and thin sheet are in line with the current industry technology development and market demand.
Source: New Energy Micro News DataBM. Com.
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