Recently, the official account of Polar Electro-Optic Energy announced that it has created a full-area efficiency of 17.18% on 0.72m2 perovskite production modules.
Comments:
The efficiency of perovskite commercial size assembly exceeds 17% for the first time, which is of great significance for industrialization, and the certainty of upstream equipment is the strongest. According to the official account of Polar Electro-Optic Energy, it has been strictly tested and certified by TUV-SUD, a global authority, and has created a full-area efficiency of 17.18% on 0.72m2 perovskite production components. This is the first time that the full area efficiency of commercial size perovskite components tested by a third party has exceeded 17%, which is of special significance. This breakthrough indicates that the LCOE of perovskite photovoltaic has approached the range of mainstream crystal silicon modules under the premise of the same price and life. At present, the perovskite industry is breaking through from the 100 MW pilot line to the GW production line, and the upstream equipment is the first to benefit.
According to the investment exchange platform, Delong laser production equipment related to perovskite thin film solar cells include front P0 laser marking equipment, P1, P2, P3 laser marking equipment, P4 laser edge cleaning equipment, transmission & cache line body, rear segment packaging and testing, and a series of automatic equipment, which have been delivered to customers and put into use in 2022, providing help for customers to take the lead in realizing large-scale production of 100 megawatts in China. At present, the company is developing a new generation of production equipment for perovskite thin film solar cells, iteratively upgrading the processing format and production efficiency of the equipment, and is expected to enjoy the growth dividend from the trial line to the mass production line.
The company has successfully obtained batch orders for silicon carbide ingot slicing equipment and achieved a domestic 0-1 breakthrough. The Mohs hardness of silicon carbide is 9.2, second only to diamond, and the difficulty of slicing is significantly higher than that of silicon. At present, foreign countries have gradually switched to laser cutting route, and our country is in the transition from mortar and diamond wire cutting to laser cutting scheme. According to the investor exchange platform, Delong Laser's SiC ingot laser slicing equipment has received bulk orders from head customers. In addition, the company also has microLED giant transfer equipment, new energy lithium electric membrane removal equipment increment. The order on hand is full, and the follow-up space can be expected.
Profit forecast and investment: we expect the company's operating income from 2023 to 2025 to be RMB 97pm and 1.28 billion respectively, and the net profit to return to the parent is RMB 0.8100,117,000,000 respectively, and the corresponding PE is respectively times as much as that in 60-40-29. Optimistic about the company in a number of downstream, such as silicon carbide, perovskite, Micro-LED giant transfer equipment growth potential, maintain the "buy" rating.
Risk tips: intensified market competition; equipment delivery schedule is not as expected; macro environment changes