BANGJIE SHARE(SZ:002634) Guo Tai Jun An Qi Huo·2025-07-18 01:52Group 1: Report Core View - The disk of polysilicon may rise first and then fall [2] Group 2: Industry News - On July 16, Bangjie Co., Ltd. announced the termination of the high - efficiency photovoltaic cell and large - size silicon wafer slicing project in Jiangshan and signed a termination agreement. Due to changes in the photovoltaic market environment, the company plans to terminate the project with a planned total investment of about 8 billion yuan and a fixed - asset investment plan of about 6.2 billion yuan [2][3][5] Group 3: Fundamental Data Industrial Silicon and Polysilicon Futures Market - Si2509 closing price: 8,745 yuan/ton, up 275 yuan from T - 5 [2] - Si2509 trading volume: 1,033,119 lots, down 435,467 lots from T - 5 [2] - Si2509 open interest: 381,048 lots, down 189 lots from T - 5 [2] - PS2509 closing price: 45,700 yuan/ton, up 4,355 yuan from T - 5 [2] - PS2509 trading volume: 410,795 lots, down 603,772 lots from T - 5 [2] - PS2509 open interest: 70,964 lots, down 27,637 lots from T - 5 [2] Basis - Industrial silicon spot premium (against East China Si5530): +450 yuan/ton, up 240 yuan from T - 5 [2] - Polysilicon spot premium (against N - type recycled material): +1050 yuan/ton, down 6,765 yuan from T - 5 [2] Price - East China oxygen - passing Si5530: 9200 yuan/ton, up 450 yuan from T - 5 [2] - Yunnan Si4210: 9900 yuan/ton, unchanged from T - 5 [2] - Polysilicon - N - type recycled material: 46750 yuan/ton, up 750 yuan from T - 5 [2] Profit - Silicon factory profit (Xinjiang new standard 553): - 2337 yuan/ton, up 64 yuan from T - 5 [2] - Silicon factory profit (Yunnan new standard 553): - 4273 yuan/ton, up 91 yuan from T - 5 [2] - Polysilicon enterprise profit: - 1.4 yuan/kg, up 0.3 yuan from T - 5 [2] Inventory - Industrial silicon - social inventory: 54.7 tons, down 0.4 tons from T - 5 [2] - Industrial silicon - enterprise inventory: 17.3 tons, down 0.11 tons from T - 5 [2] - Industrial silicon - industry inventory: 72.0 tons, down 0.50 tons from T - 5 [2] - Industrial silicon - futures warehouse receipt inventory: 25.2 tons, up 0.1 tons from T - 5 [2] - Polysilicon - manufacturer inventory: 24.9 tons, down 2.7 tons from T - 5 [2] Raw Material Cost - Silicon ore in Xinjiang: 340 yuan/ton, unchanged from T - 5 [2] - Silicon ore in Yunnan: 320 yuan/ton, unchanged from T - 5 [2] - Washed coking coal in Xinjiang: 1250 yuan/ton, unchanged from T - 5 [2] - Washed coking coal in Ningxia: 875 yuan/ton, down 20 yuan from T - 5 [2] - Maoming petroleum coke: 1400 yuan/ton, unchanged from T - 5 [2] - Yangzi petroleum coke: 1630 yuan/ton, unchanged from T - 5 [2] - Graphite electrode: 11140 yuan/ton, up 240 yuan from T - 5 [2] - Carbon electrode: 6910 yuan/ton, up 160 yuan from T - 5 [2] Polysilicon (Photovoltaic) - Silicon wafer (N - type - 182mm): 1.25 yuan/piece, up 0.25 yuan from T - 5 [2] - Battery cell (TOPCon - M10): 0.238 yuan/watt, up 0.01 yuan from T - 5 [2] - Component (N - type - 182mm): 0.65 yuan/watt, unchanged from T - 5 [2] - Photovoltaic glass (3.2mm): 17.5 yuan/cubic meter, down 0.50 yuan from T - 5 [2] - Photovoltaic - grade EVA price: 9650 yuan/ton, unchanged from T - 5 [2] Organic Silicon - DMC price: 10800 yuan/ton, up 350 yuan from T - 5 [2] - DMC enterprise profit: - 1238 yuan/ton, down 154 yuan from T - 5 [2] Aluminum Alloy - ADC12 price: 20000 yuan/ton, down 100 yuan from T - 5 [2] - Recycled aluminum enterprise profit: - 570 yuan/ton, up 150 yuan from T - 5 [2] Group 4: Trend Intensity - Industrial silicon trend intensity: 0; polysilicon trend intensity: 0. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [5]