Time came to mid-May, and major companies have already announced a quarterly report. According to the data released by the National Energy Administration, the newly installed PV installed capacity reached 9.65GW in the first quarter of this year, an increase of 22%; the installed capacity of 7.69GW became the opening surprise of 2018, and the market remained hot. Reflected in the financial report of PV companies, most PV companies have achieved good results in the companies that have reported earnings. However, unlike the prosperity of previous years, many companies have shown a slight decline this year. From a revenue perspective, companies with revenues exceeding 500 million yuan are close to 59%. TBEA led the way with a revenue of 8.01 billion yuan. Tongwei and Zhengtai Electric followed closely with 5.22 billion yuan and 5.01 billion yuan respectively. Other revenues of more than 3 billion yuan include Longji and Zhongli Group. There are 5 enterprises with revenue increase of more than 100%, namely, Sanchao New Materials (250.9%), Yicheng Xinneng (194.1%), Muller New Materials (168.1%), Jingyuntong (156.8%), Yi Shi Up (105.4%). It is worth noting that 63% of companies with positive revenue growth and more than one-third of companies have negative revenue growth. In the third quarter of last year, companies that achieved revenue growth reached 83%. Among the enterprises with negative revenue growth in the first quarter of this year, there are many companies with relatively good performance last year such as Zhonglai Co., GCL Integration, Weiwei Co., Linyang Energy, etc. The company with the largest revenue decline is Tianlong Optoelectronics, reaching - 77.2%. The TBEA with the first revenue amount increased its revenue by nearly -2%. In terms of net profit, 87% of the companies have achieved profit, and more than one-third of them have a profit of more than 100 million yuan. Enterprises with a net profit of more than 500 million yuan include Dongxu Blue Sky (10.84), Zhengtai Electric (6.13), Longji (5.43) and TBEA (5.01). Among them, Dongxu Blue Sky has a net profit of more than 1 billion yuan. Leading the wind. In terms of growth rate, 65% of enterprises have achieved positive growth in net profit. Beijing Express has a strong growth of 6714%, and Dongyu Blue has a growth rate of 2909%. Such a high growth rate is staggering. Among them, Dongxu Blue Sky is unique in terms of both the amount and the increase. However, it is worth mentioning that according to Dongxu Blue Sky Financial Report, the company obtained nearly 1 billion yuan of non-recurring gains and losses through real estate asset transfer in the first quarter of this year. The simple addition and subtraction method can be known. The amount of net profit acquired by the field is not large. Zhengtai's electrical business includes low-voltage electrical appliances and photovoltaics. According to its 2017 financial report, PV business revenue accounts for about 40% of its total revenue. Therefore, on the whole, the profits obtained in the photovoltaic field in the first quarter of this year are still led by Longji. In addition, there are 6 companies with negative net profit, and nearly 35% of companies have negative net profit growth. Among them, Hairun's PV net loss was 196 million yuan, GCL's integrated net loss was 147 million yuan, and Aerospace's net loss was 135 million yuan. The net profit of Weiwei (-74%), Qingyuan (-75%), Tuo Xinxin (-82%) and Stellar Technology (-89%) fell by more than 70%. From the above analysis, it can be found that most PV companies in the first quarter have handed in a good answer. However, there were only three or two companies losing money in the whole year, and the number of companies that recorded losses in the first quarter of this year reached 6. In addition, the negative growth of more than one-third of corporate revenues is also a rare occurrence in the photovoltaic industry in recent years. According to the financial report, Longji shares, which led the profit list with 543 million yuan, had a gross profit margin of 21.91%, which was about 5 percentage points lower than that of the fourth quarter of last year and about 10 percentage points lower than the first quarter of last year. It can be seen that although the installed capacity of photovoltaics has exploded in the first quarter, due to the increasingly fierce competition in the industry, the industry has entered the era of low profit while the subsidies are declining, and some enterprises have been slightly tired. In addition, whether it is revenue growth or net profit growth, three super-new materials, Yicheng Xinneng, Muller new materials and other photovoltaic cutting companies have performed very well. It can be seen that the popularity of the diamond wire cutting process since last year has made the relevant diamond line suppliers earn a lot of money. This point has been greatly reflected in the changes in Yicheng Xinneng's financial report. In 2017, Yi Chengxin recorded the first loss since its listing in 2010. The main reason is that the diamond cutting in the industry has revolutionized the traditional mortar cutting. As a giant in the field of traditional mortar cutting, Yi Chengxin was the first to bear the brunt. A loss of 1 billion yuan. Under this circumstance, Yi Chengxin was able to break the wrist, shut down most of the crystalline wafer cutting blade business, and began to vigorously lay out the business of electroplating diamond wire. He successfully turned losses into profit, and once again ranked among the top in the industry with a net profit increase of over 380%. According to statistics, in the first quarter of 2018, in the upstream and downstream sectors including silicon wafers, battery components, power plant systems and operations, the upstream silicon wafers sector achieved the best revenue, while the downstream power plant systems and operations in the net profit. The growth performance is the best, and in terms of battery components, not only is net profit growth weak, but the gross profit margin is the lowest in each industry chain. According to data from several industrial research institutes, the demand for high-efficiency single-crystal PERC components is currently hot, while the demand for ordinary polycrystalline components is getting colder, and some manufacturers have to cut prices. The decline in component prices has made the relevant companies miserable. In the first quarter of this year, the loss of the company was a loss of 147 million yuan. The main reason was the decline in component prices. Recently, the relevant person in charge of GCL integration said in an interview that PV modules are the most competitive and profitable link in the PV industry chain. GCL integration continues to build photovoltaic manufacturing and EPC business competitiveness through technology iteration and cost optimization. At the same time, it is also actively looking for the second main business. According to the major asset purchases announced by GCL in recent days, its underlying assets are a semiconductor company. It can be seen that the second main business they are trying to find is the semiconductor industry. Prior to this, PV companies such as Dongfang Risheng and Zhongli Group also had cross-border plans. Perhaps after the photovoltaic industry enters the era of meager profit, some PV companies will also begin to transform. Overall, although the installed capacity has been gratifying in the first quarter of this year, corporate earnings performance does not seem to be perfect. More than one-third of the company's revenue growth is negative, the gross profit declines significantly, and companies are cross-border. These things come together, and the effect of the meager profit era of the photovoltaic industry seems to have begun to appear gradually. Under the strict control of the state, the industry has also begun to transform to improve quality and efficiency, and enterprises without technological advantages will face elimination. More companies may transform into other industries with higher profit margins based on the consolidation of the photovoltaic industry. 8 Pin Automotive Connector Housing Wenzhou Langrun Electric Co.,Ltd , https://www.langrunele.com
