reporting period, Atlas shipped 14.8GW modules in the first half of the year, including 6.9GW in the first quarter and 7.9GW in the second quarter. On the
photovoltaic side, Atlas said that in order to better respond to and implement the "anti-involution" policy, the company's third quarter module shipments will be adjusted to an estimated 5-5.3GW . Annual module shipments are expected to be 25-27 GW .
For photovoltaic demand and group price trend, Atlas said that although there are some pressures on downstream price increases in the short term, the industry situation is expected to improve with the withdrawal of some production capacity and the strengthening of "anti-involution" consensus in the industry. In terms of
technology, Atlas made a provision for impairment of P-type production equipment in the second quarter, mainly due to overcapacity in the industry, and the company expects that P-type production equipment will accelerate its withdrawal from the market.
In addition, in response to changes in overseas market policies, Atlas has adopted a comprehensive and multi-angle layout strategy in the supply chain layout to the United States, including the combination of "self-built capacity + external procurement", "local production in the United States, overseas non-US self-owned capacity, overseas procurement".
In addition, Atlas said that its U.S. module factory has been put into operation, and the module output is expected to exceed 3.5G W this year . At the same time, the company is planning to build a photovoltaic cell production base in the United States, which is expected to be put into operation next year.
The original text is as follows:
1. Can you share the overseas market development of large-scale energy storage in detail?
We are paying more attention to high-value markets, mainly in developed countries, where prices and profits are healthy and demand growth is sustainable. Recent policies issued by the United States are friendly to energy storage relative to photovoltaics, with strong market growth in the United Kingdom, Canada and Australia, and abundant project reserves in other regions of Europe.
2. Regional distribution of annual energy storage shipments? The proportion of the
United States in the overall shipment structure has declined compared with last year, and the overall market layout has shown a more diversified trend. The main target markets include North America, Europe, Canada and Latin America, where the market development of large reserves is better. The company specializes in providing highly localized system integration or turnkey engineering services.
3. Views on PV demand outlook and module price trend?
At present, the upstream price of photovoltaic has risen, and the downstream price has risen to a certain extent, but the downstream price has lagged behind. Due to the large number of participants in the downstream sector, short-term price increases are facing some pressure. With the withdrawal of some production capacity and the strengthening of the industry's "anti-involution" consensus, the industry situation is expected to improve.
4. What is the price competition in the large storage market of energy storage in Europe? The local system integration and execution ability of enterprises competing
at low prices is limited, while energy storage projects need long-term support because of their large investment and high risk. Therefore, most customers have high requirements for suppliers, and high-quality customers still have strict requirements for products and services (safety, quality, financing, past project experience, etc.), which will form barriers to competition.
5. About 550 million yuan of asset impairment provision was made in the second quarter. What products are mainly involved?
Part of it is related to the inventory of raw materials, and part of it is the impairment of production equipment. Due to the overcapacity of the industry, the company expects that P-type production equipment will accelerate its withdrawal from the market, so the impairment of P-type production equipment is mainly provided.
6. On the stability of the supply chain to the United States and whether it is more inclined to purchase or build through self-production capacity in the future?
The company adopts a comprehensive and multi-angle layout in the supply chain to the United States, including the combination of self-built capacity and external procurement. At present, the module factory in the United States has been put into operation, and the operation level has been gradually improved. It is expected that the module output will exceed 3.5G W this year. In addition, the company is planning to build a photovoltaic cell production base in the United States, which is expected to be put into operation next year. The overall supply chain strategy is to achieve a diversified layout through the combination of local production in the United States, overseas non-US production capacity and overseas procurement, so as to balance policy risks.
7. How will the growth of AI change the status quo of the company, and will it have a more profound impact on revenue in the future? The growth of
AI has had a positive impact on the company in many ways. First of all, the growth of electricity demand brought by AI, especially in overseas markets, is expected to help the company. Secondly, the company has introduced AI technology in its operation to improve efficiency, such as practical application in plant process design and technology improvement. It is expected that AI will profoundly reshape the photovoltaic and energy storage industry in the next two or three years, thus having a far-reaching impact on the company's business.
8. With regard to the North American market, the impact of the US Big and American Act and the company's response?
The company is actively studying, evaluating and responding to the relevant measures and programs of the Great America Act. Please pay attention to the official announcement of the company for details.
9. In the first half of the year , the performance of energy storage system business exceeded expectations, and the price and cost were higher than industry average. What are the main reasons?
The company has chosen high-value, high-barrier markets, such as the United States, the United Kingdom, Canada and Australia, to focus on providing system integration and turnkey engineering services rather than single product sales. Energy storage business is not only product delivery, but also involves system integration solutions with high technical complexity, long service cycle and complex project management. The company has localized teams around the world, including legal, financial, technical, system design and project execution, with strong risk-taking ability and comprehensive service ability, thus supporting a higher level of price and gross profit margin.
10. What is the current supply structure of the supply chain of energy storage batteries and PCS?
At present, batteries are mainly shipped from China, including the company's own Dafeng factory in Yancheng, Jiangsu Province, and domestic suppliers of batteries in China, using 314 Ah batteries commonly used in the industry. For the US market, it will adjust the supply chain to cope with policy changes and form a diversified supply system to disperse risks. In terms of PCS, at present, the Chinese project mainly uses the series PCS developed by the company itself, and also uses the products of domestic friends; the overseas market mainly uses the products of overseas PCS manufacturers. At present, the company's self-developed series PCS has begun to enter the overseas market, and will gradually increase its share in the supply chain in the next few years.
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