At the end of February 2013, we surveyed sunflowers (300111.CH/ 7.62, unrated), and the management briefly communicated with investors about the company's current situation and their views on the industry.

Conclusion of the survey:

The company's current operating rate is about 60%. After the "cleaning" of the impairment provision in the 2012 financial report, along with the steady rise in product prices in 2013, it is expected that the performance will improve month-on-month and slightly lower than the same period last year in the first quarter of 2013. the company optimistically expects profits in the first quarter to be a high probability event.

Company profile:

The company has the production capacity of 350MW battery chips and components. The company achieved revenue of 1.23 billion yuan in 2012, net profit loss of 340 million yuan, mainly affected by the industry, product prices and shipments dropped sharply compared with the same period last year, in addition, the company inventory plan increased sharply compared with the same period last year. The accounts receivable of the company is about 100 million yuan, which is relatively small, and the account period is 3-6 months. The company shipped about 250MW in 2012 and 260 MW in 2011. The company expects that on the existing basis, if the price is relatively stable, the company's shipments will reach more than 200MW, that is, if the annual operating rate reaches about half, then the enterprise will be able to break even. Judging from the company's current situation, the company says it is a high probability that it will make a profit in the first quarter.