According to the 2023 global module shipment ranking data according to InfoLink Consulting statistics, Chinese photovoltaic companies are far ahead in terms of both shipment volume and revenue. Last year, the top nine global PV module vendors were all Chinese companies, and Daiichi Solar ranked 10th in the world in terms of product shipments.
Surprisingly, the total market value of solar energy, which ranked 10th in terms of shipment volume, reached 29.6 billion US dollars (about 215 billion yuan), surpassing Longji Green Energy and Tongwei shares, and jumped to become the company with the highest market value of photovoltaic modules in the world.
I have to say that the liquidity of US stocks is really abundant now. With a little bit of anticipation, the stock price will soar to the sky.
According to First Solar's 2023 report, the company achieved net profit of 831 million US dollars for the whole year, of which about 660 million US dollars came from government subsidies, accounting for 80%, while in 2021 and 2022, this revenue was zero.
A number of industry insiders say that the continued rise in First Solar's stock price is driven by a sharp rise in revenue and net profit. The reason behind it is huge subsidies from the US government, while Chinese photovoltaic companies are facing a situation where prices in all parts of the industrial chain are falling due to imbalances between supply and demand, and the profits of leading companies are under pressure.
Over the past two years, the market value of Chinese photovoltaic companies has continued to decline. At its peak, 13 companies had a market capitalization of over 100 billion yuan, with a total market capitalization of more than 2.4 trillion yuan. Currently, only Longji Green Energy, Sunshine Power, and Tongwei shares have a market capitalization of over 100 billion yuan.
After reaching a record high on August 31, 2021, PV ETFs began to be adjusted. As of May 30 this year, PV ETFs generally fell by more than 50%. While the PV industry index is declining, Huatai Berry Fund's PV ETF has attracted more than 10 billion dollars, and Tianhong Fund's PV ETF has attracted more than 3 billion dollars.
Against the backdrop of falling prices in the PV industry chain and pressure on business operations, the China Photovoltaic Industry Association held a symposium to analyze the problems faced by the industry, the causes and countermeasures.
The conference pointed out that for the orderly development of the photovoltaic industry, it is necessary to promote better integration between effective markets and promising governments; standardize the management of local government investment promotion policies, establish a unified national market; and strengthen the crackdown on vicious competition in sales below cost prices. At the same time, photovoltaic companies and industries should put an end to vicious competition and jointly maintain a fair competition order.
Industry insiders said that the key to starting an upward cycle in China's photovoltaic industry still lies in industry supply and demand and the profitability of enterprises. It is inseparable from using market-based methods to clear out backward production capacity, and it is necessary to rely on corporate cost advantages and technical advantages.