Throughout the implementation of the new law July 1," the sixth meeting of the Central Committee on Finance and Economics clearly stated that "low-price and disorderly competition among enterprises should be governed according to law and regulations. Promoting the orderly withdrawal of backward production capacity ", the Ministry of Industry and Information Technology further pointed out at the manufacturing symposium on July 3 that" focus on accelerating the high-quality development of photovoltaic industry, put forward the comprehensive management of low-price and disorderly competition in photovoltaic industry in accordance with the law and regulations, guide enterprises to improve product quality, promote the orderly withdrawal of backward production capacity, and achieve healthy and sustainable development. "
In this context, the photovoltaic industry may usher in a historic turning point. At the SNEC Photovoltaic Exhibition on June 11, a person in charge of a silicon material enterprise disclosed that the head silicon material enterprise had reached a consensus on the integration of "big and small". According to estimates, the capacity utilization rate of the silicon industry is less than 40% , and the price fell below the industry cash cost line in the first half of the year. The top six silicon enterprises in China occupy about 75% of the market share of the industry , and the actions of their leading enterprises are often regarded as the key signal of industry liquidation.
In 2024, according to the data of China Photovoltaic Industry Association, the annual decline of polysilicon in the global . Silicon wafers fell by 50% , batteries by 40%, components by 29% , and more than 70% of enterprises fell into losses. Be forced to stop production or reduce production . Under the double pressure of overcapacity and profit collapse, industry consolidation should be the fastest way out of the haze.
In this deep adjustment, the upstream polysilicon link, known as the " mother of the photovoltaic industry cycle", its integration dynamics are crucial to the recovery of the entire industrial chain, and its price fluctuations have a far-reaching impact on the profit stability of the whole chain. On the one hand , the output of polysilicon determines the supply of the entire industrial chain, on the other hand, if the polysilicon sector can return from deflation to inflation, it will also boost the price of the entire industrial chain.
Historical experience also shows that after the establishment of a stable competition pattern in the upstream, the middle and lower reaches can achieve reasonable profit transmission. Industry integration not only conforms to the inherent development law of "head" and "intensive" industry, but also is the inevitable choice to implement the industrial upgrading and governance optimization proposed by the meeting of the Central Committee of Finance and Economics, which means that inefficient and high-cost production capacity will gradually withdraw from or be incorporated into the management system of the head enterprises, and will eventually become the industry. So as to end the "suicide" price reduction and create a solid foundation for the healthy development of the entire photovoltaic industry chain. If the industry integration progresses smoothly, the price of silicon materials will be restored to a reasonable profit level, and will drive the whole industry through the cycle. At the same time, the concentration of silicon materials will be further enhanced, and the remaining leading enterprises in the future will fully benefit from the dividends of global energy transformation.
of https://img7.ccement.com/news/2507/richtext/img/twxm39mi7q1752490848606. Company has dropped to 27,000 yuan/ton in the first quarter." In
2024, Tongwei sold 467600 tons of high-purity silicon, an increase of 20% over the same period last year. In the low period of the industry, Tongwei relied on the comprehensive advantages of scale, cost and technology. Continue to consolidate market share; with the continuous promotion of industry consolidation, the company's position in the polysilicon sector is expected to be further enhanced with the liquidation of participants.
In addition, Tongwei also has the layout of the whole industrial chain from upstream industrial silicon to terminal power stations, and its synergistic advantages are particularly prominent: on the one hand, it can effectively guarantee upstream shipments and terminal product quality through upstream and downstream synergy in the industry trough period, on the other hand, in the process of industry integration. The company can better integrate resources and cooperate with other enterprises, further enhance its comprehensive competitiveness, and form a closed-loop value from manufacturing to application.
In the new round of photovoltaic industry "anti-involution" boom, the price of silicon materials began to pick up. The latest weekly silicon price released by the Silicon Branch of China Nonferrous Metals Industry Association (hereinafter referred to as the "Silicon Branch") on July 9 shows that the latest weekly silicon price continues to rise. Among them, the average transaction price of polysilicon N-type re-feeding and N-type granular silicon increased by 6.92% and 6. The quotation of polysilicon was also revised up by 25% to 35% , and the quotation range was raised to 4.
The industry will enter a new stage of relying on technological micro-innovation and fine management to reduce costs. The industry leader will take the lead in breaking through the storm of integration and become the biggest beneficiary of the new round of industry rising cycle, and the market share and profitability are expected to further expand. Goldman Sachs Research Report pointed out: " The oligopoly pattern formed during the photovoltaic integration period will release huge value in the continuous growth of demand, and the valuation center of leading enterprises is expected to be repaired.". "
Driven by policy guidance and industry self-discipline, the photovoltaic industry is shifting from" scale expansion "to" quality improvement ". Integration is not the decline of the industry, but the only way to optimize the allocation of resources and rebuild competitiveness. As the leader of silicon materials, Tongwei shares are transforming its leading edge into a lasting barrier by virtue of its deep accumulation in cost, technology and strategy. From the survivor of the production cycle to the definer of the long-term value of the industry. When the industry fog gradually dissipates, enterprises that adhere to the principles of technology and efficiency will eventually illuminate the long road of energy transformation.
浙公网安备33010802003254号