GXED(SH:600617)2024-07-22 08:42Financial Data and Key Indicator Changes - The company expects a net profit attributable to shareholders of 1.2 to 1.4 billion yuan for the first half of 2024, with a quarter-on-quarter growth of 7% to 42% in Q2 [61] - The company’s photovoltaic business achieved a shipment volume of 6.3GW, with a year-on-year increase of 3.3%, indicating profitability [61] - The company anticipates a total output of 6 to 6.5GW for large-scale energy storage in 2024, representing a year-on-year growth of over 500% [42][61] Business Line Data and Key Indicator Changes - The energy storage business saw significant growth, with Q2 2024 delivery volume exceeding a 50% increase compared to Q1 2024 [61] - The photovoltaic segment continues to show strong performance, with a total installed capacity of 102.48GW in the first half of 2024, reflecting a year-on-year growth of 30.7% [43] Market Data and Key Indicator Changes - In June 2024, the domestic photovoltaic market added 23.33GW of new capacity, with year-on-year and month-on-month growth rates of 35.6% and 22.5%, respectively [43] - The domestic wind power market added 6.08GW in June 2024, with a month-on-month growth of 108.2%, indicating a rapid recovery in the wind power sector [51] Company Strategy and Development Direction - The company is focusing on expanding its production capacity in the Middle East, leveraging strategic partnerships with local sovereign funds and industry players to mitigate trade barriers from Western countries [6][33] - The company aims to enhance its competitive edge in the global renewable energy market, particularly in energy storage and photovoltaic sectors [33] Management Comments on Operating Environment and Future Outlook - Management highlighted the robust demand in emerging markets such as India, Pakistan, and Saudi Arabia, with significant year-on-year growth in exports of photovoltaic components [23][40] - The management expressed optimism about the future growth potential in the energy storage market, supported by a strong order backlog of 56GWh [42][61] Other Important Information - The wind power sector is experiencing a resurgence, with major projects being signed in Europe, showcasing the global competitiveness of Chinese wind turbine manufacturers [69] - The company is also involved in significant projects in Saudi Arabia, including a record-breaking 7.8GWh energy storage project [16][33] Q&A Session Summary Question: What are the expectations for the energy storage market in the coming years? - The energy storage market is expected to see explosive growth, with the company projecting a year-on-year increase of over 500% in large-scale storage output for 2024 [42][61] Question: How is the company addressing the challenges posed by trade barriers? - The company is strategically partnering with local entities in the Middle East to navigate trade barriers and expand its market presence [6][33] Question: What is the outlook for the photovoltaic segment? - The photovoltaic segment is expected to continue its strong performance, with significant growth in installed capacity and export demand from emerging markets [23][43]