Photovoltaic And Lithium Battery Plate Encounter "Open Door" In September

      On September 1, photovoltaic and lithium-ion batteries, which had strong performance in the early stage, encountered "black door".

The reporter of 21st century economic report noted that as of midday of the same day, shares of Jiejia Weichuang, Maiwei shares, sunshine power, Trina Solar, Daquan energy and other early popular photovoltaic companies once fell by more than 10%, while Tongwei shares, Jingao technology and jinlang technology once fell to a limit.

Lithium battery sector continued to decline, wind lithium battery index (884039. WI) fell 5.30% in the morning. Among them, Shanshan shares closed down, Ganfeng lithium fell 9.09%, Huayou cobalt, Tianqi lithium and other leading concept stocks fell more than 7%. Ningde times, BYD once fell more than 4%, 6%.

As of the end of September 1, the photovoltaic and solar energy sector had fallen by nearly 5%, of which yishite fell by 19.97%, Jiejia Weichuang by 16.81%, Maiwei shares by 13.73% and Jinchen shares by more than 10%; Lithium battery plate fell about 4%, including Ganfeng lithium industry, Tianqi lithium industry and other nearly 20 stocks.

The medium and long-term development prospects of photovoltaic and lithium batteries are good, but we should also be alert to the risk of overvaluation. Tuchong creativity

Just after the mid season, the share prices of the hot PV leading stocks are all "diving"

Photovoltaic companies have just finished issuing the Chinese newspaper, A-share market on a big joke.

Shortly after the opening of trading on September 1, the share prices of leading stocks collectively "dived", driving the plate down. As of midday, shares of Jiejia Weichuang and Maiwei fell by more than 10%, while those of Tori sunenergy, jinlang technology, aerospace electromechanical and Daquan energy fell by more than 9%. However, the share prices of photovoltaic companies with a market value of 100 billion yuan also performed poorly. Tongwei shares, sunshine power, Trina Solar energy, Jingao technology and Chint electric appliance fell by 7.95%, 6.97%, 6.51%, 5.53% and 5.37% respectively, while Longji shares fell by 3.96%. It is worth mentioning that in the early trading hours, even more shocking scenes were staged, and Tongwei shares, Jingao technology and even the limit of decline.

For the situation of stock price fluctuations, some photovoltaic enterprises related to the 21st century economic report reporter said that, as far as the company itself is concerned, there is no abnormal business or industry bad news, "it is not ruled out that the plate vibration caused by some major capital position adjustment and stock exchange."

It is undeniable that although there are still unstable factors in the supply chain in the first half of the year, such as the rise of industrial chain prices and the increase of export costs, the performance of many photovoltaic enterprises in the first half of the year has maintained a growth trend.

According to the statistics of 21st century economic reporter, 53 A-share photovoltaic companies (mainly engaged in photovoltaic business) achieved a total of 279.021 billion yuan in business revenue in the first half of this year, and the net profit attributable to shareholders of listed companies was 28.733 billion yuan, all significantly increased compared with the same period last year. Among them, Tongwei, Zhonghuan, TBEA, fulette, Daquan energy and other companies achieved double growth in the first half of the year.

Taking Tongwei Co., Ltd. as an example, the company realized 26.562 billion yuan of operating revenue in the first half of this year, with a year-on-year increase of 41.75%; The net profit attributable to shareholders of listed companies was 2.966 billion yuan, up 193.50% year on year. But on September 1, the company's share price fell to a limit in early trading.

"The achievement cashes, superimposes the good news, many photovoltaic company's recent stock price has continued to record high." A new energy industry analyst who did not want to be named told 21st century economics reporter.

The 21st century economic reporter noticed that the stock prices of many leading enterprises reached a new high on August 30: Longji shares reached 98.58 yuan per share, with a total market value of over 500 billion yuan; Tongwei shares reached 62.32 yuan per share, with a total market value of more than 280 billion yuan; The share price of China Central shares reached 56.24 yuan per share, with a total market value of over 170 billion yuan

Behind the recent record high share prices of leading photovoltaic enterprises, good news has also been stimulating the capital market. Among them, the most concerned news is the "report on the implementation of China's fiscal policy in the first half of 2021" issued by the Ministry of Finance on August 27.

The report proposes to optimize the subsidy policy for renewable energy power generation, and issue a budget of 89 billion yuan for renewable energy price supplementary subsidies to support photovoltaic, wind power and other renewable energy power generation. We will speed up the publication and confirmation of subsidy list, and solve the financing problems of renewable energy power generation enterprises. From 2021, new centralized photovoltaic power stations, industrial and commercial distributed photovoltaic projects and onshore wind power projects will be put into a new stage of large-scale popularization and application. The budget of special funds for clean energy development in 2021 will be 6.01 billion yuan.

In fact, since last year's PV sector has become the "sweet potato" in the capital market, its hype is also constantly divided. In the first half of the year, photovoltaic hydrogen production, energy storage, and raw material price hikes have become the hot spots for capital speculation in the photovoltaic sector. In recent years, hjt heterojunction and distributed County wide development relay have also pushed up the stock prices of many related companies.

However, when the share price reaches a new high, some companies' valuation will appear "bubble". Take the recent hype hot spot hjt heterojunction as an example, when the stock price of Maiwei shares and Jinchen shares exceeded 100 yuan, their P / E ratio also exceeded 100 times. By midday trading on September 1, Maiwei shares and Jinchen shares were at 697 yuan / share and 154.35 yuan / share, down 10.32% and 10% respectively, and the dynamic P / E ratios were 157 times and 191 times, respectively.

Lithium battery plate suffered setback, Tianneng shares fell for three consecutive days

On September 1, the lithium battery sector fell along with the photovoltaic sector. As of midday trading and the limit of the decline of Shanshan shares, Ganfeng lithium, Huayou cobalt and Tianqi lithium fell sharply, while the shares of BYD and Ningde times also fell.

However, unlike the photovoltaic sector, lithium has been adjusting for several days“ This callback is also reasonable, lithium battery concept enterprises generally reported good results, market expectations go up, it is necessary to cool down. " The analyst told 21st century business reporter.

Wind lithium battery index shows that the current round of lithium battery market began at the end of March this year. On March 25, when the intraday index fell to 5095.23, the index rose all the way, up 104.83% in five months.

In fact, in the first half of this year, the mid-term performance of lithium battery concept enterprises has been reported frequently. Taking the net profit index as an example, among the 22 lithium battery concept companies in a share market, more than 90% of the enterprises' net profit increased year on year, and the net profit of Shanshan shares and long-term lithium technology increased by an astonishing 27 times. Even compared with the same period in 2019 before the outbreak, the net profit of 15 companies doubled year on year.

The favorable policy environment makes lithium battery enter into the industry of high scenery. According to the calculation of open source securities, it is estimated that the situation of tight supply and demand in the global lithium industry will be difficult to change from 2021 to 2022, and lithium mines will be easy to rise but difficult to fall under the rigid gap. In this context, domestic lithium battery companies have begun to expand production capacity in order to gain more voice.

According to the statistics of Gaogong lithium battery, in the past week, GuoXuan high tech, rongshengmeng Guli, yaoning technology, Funeng technology and Tianneng Co., Ltd. of Geely successively announced the construction of power battery projects, with an additional planned capacity of 57gwh and a total investment of about 30 billion yuan.

On August 27, Tianneng announced that it plans to use the over raised funds and its own funds to increase the capital of its subsidiary Huzhou new energy to implement the project of annual output of 10gwh lithium battery in Huzhou South Taihu base, with an estimated total investment of 3.973 billion yuan. Among them, phase I plans to build a new battery cell and pack production line, which will form an annual capacity of 3gwh lithium iron phosphate battery after reaching the production capacity. The expected construction period is 12 months. The production capacity of 7gwh lithium iron phosphate battery with an annual output of 7gwh will be formed after the phase II project is completed. The expected construction period is 30 months.

According to the financial report released in the first half of the year, the company realized 16.255 billion yuan of operating revenue during the reporting period, with a year-on-year increase of 9.34%; The net profit attributable to shareholders of listed companies was 672 million yuan, down 14.89% year on year.

However, after the announcement of the semi annual report and 4 billion foreign investment projects, the shares of A-share Tianneng shares and H-share Tianneng power fell to varying degrees. As of the midday of September 1, in the past three trading days, Tianneng power fell by 27.70% and Tianneng shares by 18.26%.

In this regard, the 21st century economic report contacted the Board Secretary Office of Tianneng Co., Ltd. and its staff said that the company's current business situation was normal, and the stock price fluctuation was the normal performance of the stock market.

The aforementioned analysts told reporters of the 21st century economic report that photovoltaic and lithium batteries are industries with good medium and long-term development prospects, but we should also be alert to the risk of serious overdraft of short-term stock prices and over valuation of performance expectations.