Hangzhou Feilu New Energy Technology Co., Ltd.

CSG A (5.700, 0.31, 5.75%) and many other stocks strengthened.

Picture from: Wind Obviously, Tesla ’s previous announcement that it will expand its solar roofing business globally this year and that it will enter the Chinese and European markets as soon as possible is not just a word of mouth. In this business, it can be described as a “giant in action”. Looking back, in November 2016, Tesla acquired SolarCity, a US solar power system supplier, and announced that it will cooperate with Panasonic to develop photovoltaic roof products, aiming to provide customers with clean energy products including Powerwall energy walls, solar roofs, etc .; It has launched the first two generations of solar roof tiles to replace traditional roof tiles, and carried out trial installations, and then in October 2019, Tesla officially launched the third generation of high power density solar roof tiles Solarglass, optimized The overall visual effect and improved the problem of large-scale installation. Based on the above, it is enough to see that Tesla, as a new energy automobile giant, attaches great importance to the solar roof business, pointing to the photovoltaic industry, trying to cut into this market to bring new value points to its business development. But it is worth noting that, for now, because this business is still in the period of rapid introduction, the growth potential needs to be considered, coupled with or subject to multiple factors such as natural conditions, construction conditions, and costs, people ’s acceptance is still To be improved, it has not brought much considerable benefits for Tesla. According to the 2019 financial report, Tesla's solar power system and solar energy storage products have annual revenue of only $ 1.53 billion, accounting for about $ 24.6 billion of the company 6% of income. Looking at the attitude of Tesla's active entry into the Chinese market today, it is certain to a certain extent that Tesla still has great expectations for the development of the solar roof business, trying to want it to become its main business One, therefore, it is also expected that it chose to enter overseas markets including China to popularize this business application. After all, this can not only bring stable stickiness to its own business, but also form a synergy with China's photovoltaic industry chain. To ensure the promotion and operation of products to suit local conditions, after all, China's photovoltaic industry has developed rapidly in recent years under the support of favorable policies and industry. It has exceeded expectations, and its technical advantages and market space should not be underestimated.

Picture from: Wind From the perspective of market conditions, the newly installed capacity of photovoltaic power generation in China increased to 44.3GW, with a compound growth rate of up to 71.6% (in 2008, the newly installed capacity of photovoltaic power generation in China was 0.2GW), and the total installed capacity of photovoltaic power generation in China reached 175GW in 2018 , Has accounted for more than one-third of the world's total installed capacity. At the same time, China's solar power grid-connected installed capacity has reached 190 million kilowatts in 2019, and has already achieved the goals in the "Thirteenth Five-Year Plan for Renewable Energy Development" kilowatt).

However, it should be noted that after entering 2019, the photovoltaic industry has ushered in a period of parity due to policy influence. The amount of newly installed photovoltaic power generation in the country has shrunk significantly, at 30.11GW, a year-on-year decrease of 31.6%, of which 17.91 new centralized photovoltaic installations GW, a year-on-year decrease of 22.9%; but distributed photovoltaic installed capacity of 12.2GW kilowatts, an increase of 41.3%.

Based on this, although the prosperity of the photovoltaic industry has declined, but the introduction of this policy also has a positive stimulating effect on the upgrading and transformation of the industry, that is, the industry development has entered a reshuffle period, and the incoming industry can reduce costs through technological innovation Increase efficiency, further optimize its production capacity structure, accelerate the elimination of backward production capacity, enhance the competitiveness of high-end production capacity, while ensuring the stable operation of domestic related development, actively go out of the country and expand related export business.

In addition, although the current outbreak of the epidemic has caught all industries by surprise, that is, due to delays in resumption of production and logistics and obstruction of logistics, the production capacity of related industries has been seriously negatively affected. The negative impact of postponement is relatively light, especially for industry leaders, that is, with relatively high production capacity and sufficient production capacity, the development of the entire industry is within a reasonable range.

At present, the overall performance of the photovoltaic industry is relatively stable, and the long-term outlook has room for improvement. This may also be the reason for Tesla to actively enter the Chinese market and recruit relevant talents (business development managers, etc.) The entry into the market may further increase the interest and optimistic expectations of the photovoltaic industry. According to the research report given by the relevant brokers, the following stocks may be concerned:

Related stocks of photovoltaic concept

Longji (601012.SH): It is the world's largest manufacturer of monocrystalline silicon photovoltaic products. In 2018, the operating income was 22 billion yuan, an increase of 34.38% year-on-year; the net profit attributable to shareholders of listed companies was 2.56 billion yuan, a year-on-year decrease of 28.24%. Basic earnings per share was 0.93 yuan. In the first three quarters of 2019, the total operating income was 22.69 billion, an increase of 54.7% year-on-year; the net profit attributable to the mother was 3.48 billion, an increase of 106% year-on-year; the earnings per share was 0.98 yuan; the net profit attributable to shareholders of listed companies in 2019 is expected to be From 500 billion yuan to 5.300 billion yuan, compared with the same period last year, an increase of 95.47% to 107.19%. After deducting non-recurring gains and losses, it is expected that the net profit attributable to shareholders of listed companies after deduction of non-recurring gains and losses will be 4.817 billion yuan to 5.117 billion yuan in 2019, which is an increase of 105.50% to 118.30% compared with the same period of the previous year.

Flatter achieved revenue of 3.064 billion yuan in 2018, an increase of 2.42% year-on-year; net profit attributable to shareholders of listed companies was 407 million yuan, a year-on-year decrease of 4.50%; basic earnings per share was 0.23 yuan, a decrease of 4.17% year-on-year. In the first three quarters of 2019, operating income was 3.38 billion yuan, an increase of 49.71% year-on-year; the net profit attributable to shareholders of listed companies was 508 million yuan, an increase of 75.08% year-on-year. Basic earnings per share is 0.26 yuan; the company ’s main product photovoltaic glass benefits from the company ’s capacity expansion and the recovery of demand in the photovoltaic industry. Both sales and sales prices have increased. It is expected that the actual net profit attributable to shareholders of listed companies in 2019 will be 680 million -7.30 100 million yuan, an increase of 67.08% -79.36% over the same period last year.

CSG A: Committed to energy-saving and renewable energy business, the main business is flat glass, engineering glass and other energy-saving building materials, silicon materials, photovoltaic components and other renewable energy products. In 2018, the operating income was 10.6 billion yuan, a year-on-year decrease of 2.48%; the net profit attributable to shareholders of listed companies was 453 million yuan, a year-on-year decrease of 45.12%. Basic earnings per share is 0.16 yuan. In the first three quarters of 2019, operating income was 7.66 billion yuan, a year-on-year decrease of 6.01%; net profit attributable to shareholders of listed companies was 544 million yuan, an increase of 16.03% year-on-year. Basic earnings per share is 0.18 yuan. Previously, the company said that Panasonic Japan and Tesla cooperated to produce photovoltaic modules in Buffalo, New York. CSG was selected as the designated raw material supplier for the project by photovoltaic glass. The above cooperation has lasted for about 2 years.

Zhengtai Electric (601877.SH): The company is based on the four major sectors of smart electrical, green energy, smart home, industrial control and automation, and has developed into a leading enterprise in industrial electrical and new energy. In 2018, the operating income was 27.421 billion yuan, an increase of 17.1% over the same period of the previous year; the net profit attributable to the owners of the parent company was 3.592 billion yuan, an increase of 26.47% year-on-year; the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses It was 3.654 billion yuan, a year-on-year increase of 38.81%. In the first three quarters of 2019, operating income was 22.5 billion yuan, an increase of 17.62% year-on-year; net profit attributable to shareholders of listed companies was 2.86 billion yuan, an increase of 2.65% year-on-year. Basic earnings per share were 1.33 yuan. In November 2019, Shanghai Chint Power System Co., Ltd. announced that the company has passed the review of the inverter supplier of Tesla's photovoltaic business unit in the United States, and will then officially supply, while Chint Electric holds 99.22% of the company's shares. It is worth noting that Chint Electric today rose 3.04%, hitting a new high of nearly 8 months, closing at 27.43 yuan.

Conclusion

Overall, China's photovoltaic industry continues to develop toward a benign trend under the guidance of policies. Although the industry boom caused by the impact of the subsidy ebb tide, but due to its own long-term allocation value, the industry will follow the trend With the technological upgrading and innovation of the incoming companies, expanding the market space and entering a new business cycle, the future of its industry is still relatively bright, especially through the deployment of Tesla ’s previous promise to actively enter the Chinese market through the solar roof business In view of this, it may directly benefit the popularity of photovoltaics again, and upstream manufacturers including photovoltaic glass may benefit first. However, it should be noted that Tesla's strong entry into the distributed photovoltaic market may drive market speculation and make the concept sector fluctuate. For this reason, relevant market investors should maintain a cautious and optimistic attitude. CSG A (5.700, 0.31, 5.75%) and many other stocks strengthened. Picture from: Wind

Obviously, Tesla ’s previous announcement that it will expand its solar roofing business globally this year and that it will enter the Chinese and European markets as soon as possible is not just a word of mouth. In this business, it can be described as a “giant in action”.

Looking back, in November 2016, Tesla acquired SolarCity, a US solar power system supplier, and announced that it will cooperate with Panasonic to develop photovoltaic roof products, aiming to provide customers with clean energy products including Powerwall energy walls, solar roofs, etc .; It has launched the first two generations of solar roof tiles to replace traditional roof tiles, and carried out trial installations, and then in October 2019, Tesla officially launched the third generation of high power density solar roof tiles Solarglass, optimized The overall visual effect and improved the problem of large-scale installation.

Based on the above, it is enough to see that Tesla, as a new energy automobile giant, attaches great importance to the solar roof business, pointing to the photovoltaic industry, trying to cut into this market to bring new value points to its business development.

But it is worth noting that, for now, because this business is still in the period of rapid introduction, the growth potential needs to be considered, coupled with or subject to multiple factors such as natural conditions, construction conditions, and costs, people ’s acceptance is still To be improved, it has not brought much considerable benefits for Tesla. According to the 2019 financial report, Tesla's solar power system and solar energy storage products have annual revenue of only $ 1.53 billion, accounting for about $ 24.6 billion of the company 6% of income.

Looking at the attitude of Tesla's active entry into the Chinese market today, it is certain to a certain extent that Tesla still has great expectations for the development of the solar roof business, trying to want it to become its main business One, therefore, it is also expected that it chose to enter overseas markets including China to popularize this business application. After all, this can not only bring stable stickiness to its own business, but also form a synergy with China's photovoltaic industry chain. To ensure the promotion and operation of products to suit local conditions, after all, China's photovoltaic industry has developed rapidly in recent years under the support of favorable policies and industry. It has exceeded expectations, and its technical advantages and market space should not be underestimated.