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光伏反内卷再升级,用电量持续创新高 | 投研报告
Group 1: Market Performance - The electric equipment and new energy sector increased by 2.28% this week, ranking 20th in terms of performance, underperforming compared to the Shanghai Composite Index [1][2] - The new energy vehicle index saw the highest increase at 3.69%, while the wind power index had the smallest increase at 0.56% [1][2] Group 2: New Energy Vehicles - In July 2025, the U.S. light vehicle market continued its upward trend, but growth is slowing due to rising prices, reduced discounts, and tariff pressures [3] - The average price of new cars reached $45,063, an increase of nearly $1,000 year-on-year, with discounts narrowing to 6.1% [3] - Light vehicle inventory reached 2.19 million units, a year-on-year increase of 28% [3] - Electric vehicles accounted for a record 10.9% of the market share [3] Group 3: Renewable Energy Development - A meeting was held by multiple government departments to discuss the photovoltaic industry, emphasizing four key points: strengthening industry regulation, curbing low-price competition, ensuring product quality, and supporting industry self-discipline [4] - China Huadian Group announced a centralized procurement for 20GW of photovoltaic components, divided into two segments: 18GW and 2GW [4] Group 4: Electricity Consumption - In July, total electricity consumption exceeded 10 trillion kilowatt-hours for the first time, with a cumulative total of 58,633 billion kilowatt-hours from January to July, reflecting a year-on-year growth of 4.5% [5] - The electricity consumption by the primary industry was 847 billion kilowatt-hours, up 10.8% year-on-year, while the secondary industry consumed 37,403 billion kilowatt-hours, growing by 2.8% [5]
中国光伏行业协会重申加强行业自律
第一财经· 2025-08-22 13:06
Core Viewpoint - The article discusses the ongoing "anti-involution" trend in the photovoltaic (PV) industry, highlighted by the recent centralized procurement bidding by China Huadian Corporation, which reflects changes in pricing and competition dynamics within the sector [3][5]. Group 1: Procurement Details - China Huadian Corporation's centralized procurement for PV modules spans a total scale of 20GW, divided into two segments: 18GW for segment one and 2GW for segment two [3]. - The average bidding price for segment one has risen to 0.71 yuan/W, exceeding the previously established industry self-discipline floor price of 0.692 yuan/W, with only a few bids below 0.7 yuan/W [3]. - For segment one, over 40 companies participated, with bid prices ranging from 0.6464 yuan/W to 0.7518 yuan/W, and an average of 0.7103 yuan/W, where only five bids were below 0.7 yuan/W [4]. - Segment two requires high-efficiency N-type TOPCon, HJT, and BC modules, with 26 companies bidding, and prices ranging from 0.7076 yuan/W to 0.8431 yuan/W, averaging 0.7461 yuan/W, with over 60% of bids above 0.73 yuan/W [4]. Group 2: Industry Self-Regulation Initiatives - The China Photovoltaic Industry Association (CPIA) issued an initiative to strengthen industry self-regulation, emphasizing the need for fair competition and adherence to legal frameworks to combat predatory pricing [5]. - The initiative calls for optimizing bidding rules by reducing price weight and increasing the importance of technical evaluation in the bidding process [5]. - Recent discussions among various government departments have focused on curbing low-price disorderly competition and establishing effective pricing mechanisms to prevent below-cost sales and false marketing practices [6].
华电20GW组件集采均价超0.7元/W,中国光伏行业协会重申加强行业自律
Di Yi Cai Jing· 2025-08-22 11:43
Core Viewpoint - The China Photovoltaic Industry Association (CPIA) proposes that power station companies optimize bidding rules by reducing the weight of price and increasing the weight of technical evaluation in order to combat "involution" in the photovoltaic industry [1][4]. Group 1: Bidding and Procurement - The recent large-scale procurement by China Huadian Corporation for photovoltaic components has a total scale of 20GW, divided into two segments: 18GW and 2GW [1]. - The average bidding price for the first segment has risen to 0.71 yuan/W, exceeding the previously set industry self-discipline bottom price of 0.692 yuan/W, with only a few bids below 0.7 yuan/W [3]. - The first segment requires N-type TOPCon monocrystalline bifacial double-glass components with a conversion efficiency greater than 22.5%, with over 40 companies participating and bidding prices ranging from 0.6464 yuan/W to 0.7518 yuan/W [3]. - The second segment requires high-efficiency N-type TOPCon, HJT, and BC monocrystalline bifacial double-glass components with a conversion efficiency greater than 23.8%, with 26 companies participating and bidding prices ranging from 0.7076 yuan/W to 0.8431 yuan/W [3]. Group 2: Industry Self-Regulation and Legal Compliance - The CPIA emphasizes strict adherence to various laws, including the Price Law and Anti-Monopoly Law, to resist malicious competition through pricing below cost [4]. - The association advocates for companies to optimize bidding rules, reduce price weight, and enhance technical evaluation weight [4]. - A recent meeting involving multiple government departments highlighted the need to curb low-price disorderly competition and establish effective price monitoring and product pricing mechanisms [4][5]. Group 3: Market Dynamics and Future Outlook - Since the third quarter of 2024, relevant national departments have issued documents aimed at exiting inefficient capacity, preventing involution competition, and promoting the construction of photovoltaic bases [5]. - Recommendations include ensuring that winning bid prices do not fall below cost to facilitate an orderly clearing of supply in the photovoltaic sector [5].
工业硅、多晶硅日评:高位整理-20250819
Hong Yuan Qi Huo· 2025-08-19 01:31
1. Report Industry Investment Rating - No information provided on the report industry investment rating 2. Core Viewpoints - The silicon price has adjusted downward due to cooling sentiment and hedging pressure on the disk, but the bullish sentiment has been fluctuating recently, and it is expected that the silicon price will remain in a high - level consolidation. The price of polysilicon has continued to rise since the end of June due to supply - side reform expectations and spot price increases, and although the sentiment has weakened recently, it is still volatile. It is expected that the price will remain in a high - level consolidation with large fluctuations in the disk, and operations should be cautious [1] 3. Summary by Related Content Industrial Silicon - **Price Changes**: The average price of industrial silicon non - oxygen - passing 553 (East China) remained flat at 9,200 yuan/ton, and the average price of 421 (East China) industrial silicon remained flat at 9,750 yuan/ton. The closing price of the futures main contract dropped 2.27% to 8,605 yuan/ton [1] - **Supply - side**: As the silicon price continues to rise, some previously shut - down silicon plants in Xinjiang have resumed production. The southwest production area has entered the wet season, power costs have decreased, and enterprise start - up rates have steadily increased. It is expected that some silicon furnaces will restart in August, and the supply will increase steadily [1] - **Demand - side**: Polysilicon enterprises maintain a production - cut situation, and some silicon material plants have复产 arrangements, which will bring some demand increments. An organic silicon manufacturer has stopped production for rectification due to an accident, and the supply has tightened temporarily. Recently, monomer plant enterprises have recovered, the market supply pressure has increased, and prices may be under pressure again. Silicon - aluminum alloy enterprises purchase as needed, and the downstream's willingness to stock up at low levels is insufficient [1] Polysilicon - **Price Changes**: The price of N - type dense material remained flat at 46 yuan/kg, the price of N - type re - feeding material remained flat at 47 yuan/kg, the price of N - type mixed material remained flat at 45 yuan/kg, and the price of N - type granular silicon remained flat at 44.5 yuan/kg. The closing price of the futures main contract dropped 0.87% to 52,280 yuan/ton [1] - **Supply - side**: Polysilicon enterprises maintain a production - cut situation, and some silicon material plants may have new production capacity put into operation. After offsetting increases and decreases, the output is expected to increase slightly. It is expected that the output in July will approach 110,000 tons, and the output in August will increase to about 130,000 tons [1] - **Demand - side**: The photovoltaic market as a whole is weak, the inventory of silicon wafers and silicon materials has increased. Recently, due to the expected increase in polysilicon prices, the downstream silicon wafer prices have risen, and the trading atmosphere has improved. However, the demand was greatly overdrawn by the rush to install in the first half of the year, the terminal market is still weak, and the component prices have adjusted downward [1] Other Information - **New Energy Tenders**: On August 14, the list of candidates for the 2025 Jizhong New Materials 7.15MWp N - type double - sided double - glass photovoltaic module project of Hebei Jizhong New Energy Technology Co., Ltd. was announced. The first candidate was JA Solar Technology Co., Ltd. with a bid price of 5,112,586.05 yuan and a converted unit price of about 0.715 yuan/W. The second candidate was Yingli Energy Development Co., Ltd. with a bid price of 5,076,500 yuan and a converted unit price of about 0.71 yuan/W [1] - **New Energy Company Establishment**: State Power Investment Corporation and China General Nuclear Power Group have established new energy companies in Tianjin and Tibet respectively, with a total registered capital of 400 million yuan. Tianjin Electric Power Investment Qingneng New Energy (Limited Partnership) was established on July 3, 2025, with a registered capital of 300 million yuan and is indirectly 100% controlled by State Power Investment Corporation [1]