On July 14 and 15, many photovoltaic companies, such as Shuangliang Energy Conservation, Central TCL and Jingke Energy, disclosed their performance forecasts for the first half of 2023.
Benefiting from the high demand of photovoltaic market and the downward price of upstream silicon materials, the performance of most photovoltaic enterprises has increased significantly year on year. The semi-annual performance forecast for 2023 issued by TCL Zhonghuan, a leading enterprise of
silicon materials and wafers, shows that it is expected to achieve a net return of 4.48 billion to 4.68 billion yuan in the first half of 2023. An increase of 53.57% -60.42% over the same period last year. Net profit
after deduction of non-profits was RMB3.75 billion to RMB3.95 billion , representing a year-on-year increase of 29.27% to 36.16%; basic earnings per share was RMB1.148 per share to RMB1.1645 per share, compared with RMB0.905 per share for the same period last year. An increase of 53.57% -60.42%
over the same period last year; the net profit after deduction of non-recurring profit and loss was 3.75 billion yuan to 3.95 billion yuan, and the profit for the same period last year was 2.909 billion yuan, an increase of 29.27% -36.16% over the same period last year; Basic earnings per share were 1.148 yuan per share-1.1645 yuan per share, compared with 0.905 yuan per share in the same period last year.
Similarly, Shuangliang Energy Saving , which makes silicon wafers , has also achieved performance growth. The company expects to achieve a net profit of 580 million to 680 million attributable to shareholders of listed companies in the first half of 2023 . Year-on-year growth of 64.15 to 92.45% . It is estimated that the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses will be 520 million to 620 million in the first half of 2023, an increase of 54.19% to 83.85% over the same period last year. In
this regard, the company said that the company's energy-saving and water-saving business developed rapidly, the related business in the field of photovoltaic new energy developed smoothly, and the revenue of photovoltaic equipment and monocrystalline silicon rods/wafers continued to grow, which promoted the company's operating performance.
In addition, Jingke Energy, the giant of photovoltaic modules, also announced its performance forecast for the first half of the year, which was affected by the rising shipments of photovoltaic modules, the increasing proportion of N-type advanced products, and actively responded to the superposition of factors such as supply chain prices, exchange rate markets and changes in international trade policies. The company's revenue and profit in the first half of 2023 increased significantly compared with the same period last year.
It is estimated that the net return to the mother in the first half of 2023 will be 3.66 billion to 4.06 billion, an increase of 304.38% to 348.58% over the same period last year. It is estimated that the net profit deducted from non-profits in the first half of 2023 will be 3.32 billion to 3.72 billion, up 313.45% to 363.26% year on year.
From the above disclosure, although with the continuous increase in demand for photovoltaic installations, most of the companies in the industrial chain have achieved positive profit growth in the first half of the year. However, Digital New Energy DNE noted that due to the sharp drop in the price of silicon wafers in the second quarter, the performance of silicon wafer enterprises represented by TCL, Shuangliang Energy Conservation and Beijing Express all declined to varying degrees, and the high growth in the first quarter was no longer a beautiful result in the second quarter.
Taking TCL Central as an example, in 2023, the company is expected to achieve a net profit of 4.48 billion to 4.68 billion yuan. After deducting the net profit of 2.25 billion yuan in the first quarter of 2023, the net profit in the second quarter is expected to be 2.23 billion to 2.403 billion yuan, which may even decline slightly. In terms of non-profit deduction, the first half of the year is expected to deduct non-net profit of 3.75 billion yuan to 3.95 billion yuan, minus 2.22 billion yuan in the first quarter, leaving only 1.53 billion to 1.75 billion yuan in the second quarter, a decline of 21.2-31.1% annually.
As a leading enterprise with multi-pronged business, TCL Central Photovoltaic Wafer Business has other businesses to make up for the decline in revenue, but for Beijing Express, which is betting on a single business, the negative impact of the industry cycle has reached a burning point. In the first half of
2023, the estimated net profit of Beijing Express was RMB38.8342 million to RMB116 million, representing a year-on-year decrease of 70% to 90%; the net profit after deduction of non-profits was RMB7.2834 million to RMB72.8344 million, representing a year-on-year decrease of 80% to 98%. At the same time of the sharp decline in
performance, the company also intends to make provision for inventory depreciation. 220 million to 270 million yuan, while the amount of the same period last year was only 130000 yuan, soaring by 169130% to 207592. 31%. In the
second quarter of this year, Beijing Express estimated net profit of-187 million to-264 million yuan, directly losing half of last year's net profit (net profit of 423 million in 2022). On July 13, the polysilicon price announced by the Silicon Branch of
Beijing Express in the first quarter
of 2023 showed that the unit price of some silicon materials had fallen below 60000 yuan, which was still close to the average production cost of polysilicon enterprises according to the current average price of 67500 yuan. In the first half of
2023, the output of polysilicon was 651,700 tons, with a year-on-year increase of 91.3%; the peak output was 121,500 tons in June, which was 97.2% higher than output of 61,600 tons in June last year. In terms of
silicon wafers, the output of silicon wafers in the first half of 2023 was 249.6GW, an increase of 66.7% over the same period last year; the highest output was 47.8GW in May, 83.8% higher than output of 26GW in May last year.
Industry analysts believe that for the second half of 2023, "surplus" is still the main tone of the industry. In the era of
surplus, where should the silicon material and silicon wafer enterprises go in the second half of the year, and whether there will be another "first quarter" to save the second half of the year?
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