Recently, Longji Green Energy said in a survey that the current Xixian 50GW battery project is in the early stage of civil construction, and the company will comprehensively consider the changes in the market competition pattern and the progress of its own battery research and development to determine the technical route of the battery.
The company will comprehensively consider the changes in the market competition pattern and the progress of its own battery research and development to determine the technical route of the battery. Since
January and May, the price of the industrial chain has been adjusted rapidly. What is the change of the terminal demand and the change of the operating rate of the company's products? Were product shipments affected in the second quarter?
Answer: Since May, the price of photovoltaic products has fluctuated sharply, and some end customers have temporarily wait-and-see, which has had a certain impact on the short-term market demand. In late June, the price of the industrial chain basically bottomed out, and the terminal demand began to pick up gradually. From the perspective of global PV demand structure in 2023, China is the largest incremental market, especially the centralized market; according to the bidding situation of large-scale PV projects in China this year, most of the centralized projects will be released in the second half of 2023. At present, the price of photovoltaic modules is less than 1.5 yuan/W, the economy of photovoltaic power generation is further highlighted, superimposed on the impact of power shortage caused by high temperature weather, it is expected that the global potential demand for photovoltaic is expected to continue to release. During the period of rapid price adjustment in the
industrial chain, the company adjusted the operating rate of silicon wafers and components in time according to the changes of upstream and downstream demand. With the recovery of demand, it is expected that the operating rate of silicon wafers and components will be moderately increased in the future. Although the periodic terminal demand has been affected by the price changes in the industrial chain, the global demand has maintained a sustained growth trend, so the company's silicon wafer and component shipments in the second quarter of 2023 have been increasing.
2. May I ask about the company's HPBC battery production capacity climbing and orders?
Answer: After the running-in of technology, process and materials in the first quarter of 2023, the climbing of the company's HPBC battery production capacity has been accelerated, and the monthly production schedule in the last three months shows a trend of rapid increase. Benefiting from high performance and aesthetic appearance, HPBC components are competitive in the distributed market, and orders continue to increase.
3. What is the construction progress of the company's 30GW TOPCon battery capacity in Ordos? Is the company worried about the backward technology of TOPCon?
Answer: The production capacity of Ordos 30GW N-type TOPCon battery of the Company will be mobilized at the end of May 2023, and it is expected to be put into production in August 2023. In terms of cost, according to the bidding situation of TOPCon production equipment, the actual investment in equipment has decreased significantly, reflecting a certain advantage of backwardness. At the technical level, it is expected that the power of TOPCon components will be more than 575 W after putting into production, which is in the leading level in the industry.
3. I would like to ask whether the technical route has been determined for the construction progress of Xixian 50GW battery production capacity?
Answer: At present, Xixian 50GW battery project is in the early stage of civil construction. The company will comprehensively consider the changes in the market competition pattern and its own battery research and development progress to determine the technical route of the invested battery.
4. Recently, the conversion efficiency of the company's perovskite silicon-based tandem battery has reached 33.5%, and the breakthrough is relatively rapid. How does the company consider the layout of the future battery technology route?
Answer: In the short term, the company has launched Hi-MO6 series modules (HPBC technology) for the global distributed market and Hi-MO7 series modules (HPDC technology) for the centralized market. Starting from the whole life cycle of photovoltaic systems, the company has in-depth insight into the differentiated needs of market segments. It has gradually built a product portfolio with competitive advantages. In the
medium and long term, photovoltaic cell technology will continue to upgrade iteratively, so the company will continue to carry out research on a variety of battery technologies, not bet on a single route, and timely layout of low-cost, high-efficiency battery technology capacity construction.
5. Will the company's production of N-type silicon wafers and the size of silicon wafers be improved?
Answer: The company's silicon wafer production capacity has excellent compatibility, and can produce P-type and N-type silicon wafers, as well as silicon wafer products of different sizes, mainly depending on downstream demand. At present, the downstream market demand is mainly P-type products, and the proportion of N-type products is gradually increasing, so the company's silicon wafer production structure also shows the same change. In terms of silicon wafer size, since 2022, the supply and demand of large-size products have increased rapidly, mainly 182 mm at present; for other sizes, the company generally arranges production according to orders, and the size switching is more flexible.
6. What is the progress of the company's GDR project?
Answer: The company disclosed the GDR issuance plan on June 21, 2023. The raised funds are intended to be used for the annual production of 46 GW monocrystalline silicon rods and slices in Ordos, the annual production of 30 GW monocrystalline batteries in Ordos, the annual production of 6.6 GW monocrystalline silicon rods in Malaysia, the annual production of 2.8 GW monocrystalline modules in Malaysia and the annual production of 3.35 GW monocrystalline batteries in Vietnam. At present, the issuance plan still needs to be submitted to the shareholders' meeting for approval.
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