In order to further develop their respective professional advantages in the industrial chain and lead the healthy and sustainable development of the global photovoltaic industry, Longji and Tongwei signed a strategic cooperation agreement on June 3, 2019. The two parties reached a cooperation intention on high-purity silicon and silicon cooperation. .
The "Securities Daily" reporter learned that the two sides will cooperate in two aspects. According to the agreement, Tongwei will strategically invest in Longhua's Ningxia Yinchuan 15GW single crystal silicon rod and slicing project, and hold a 30% stake in the project after the shareholding; Longji shares will invest in the 50,000-ton high-purity crystalline silicon project of Tongwei Co., Ltd. according to the equivalent amount strategy. After the shareholding, he holds 30% of the equity of the project.
At the same time, the two parties will cooperate in the supply chain. From 2020 to 2022, the amount of high-purity crystalline silicon purchased by Longji from the project company of Tongwei Co., Ltd. 50,000 tons of high-purity crystalline silicon project is not less than that of Longji. 2.5 times (equity production capacity = equity ratio × annual production capacity of the project company); from 2020 to 2022, Tongwei shares a large number of monocrystalline silicon wafers purchased from Longji's Yinchuan 15GW single crystal silicon rod and slicing project company each year. Yutongwei has 2.5 times the equity capacity of the project company.
The two parties promised that Longji shares encouraged and supported Tongwei shares to continue to grow stronger and stronger in the field of high-purity crystalline silicon; Tongwei shares encouraged and supported Longji shares to continue to grow stronger in the field of single crystal silicon rods. In addition, in the field of components and batteries, the two sides will maintain close communication and jointly explore opportunities for cooperation to jointly promote the healthy development of the industry.
Longji said that the signing of the agreement indicates that the two parties will carry out in-depth strategic cooperation in the future, and promote and strengthen the resource sharing and integration of the photovoltaic industry chain by exerting their respective leading advantages in the relevant links of production capacity and technology. To achieve professional division of labor, complementary advantages, and win-win cooperation, it is conducive to promoting industry capacity optimization and industrial upgrading, promoting the continuous reduction of photovoltaic power generation costs, accelerating the progress of photovoltaic emission level price, and achieving sustained, healthy, stable, coordinated and efficient development of the industry.
According to the "Securities Daily" reporter, as of the end of 2018, Longji has a capacity of 28 GW of monocrystalline silicon wafers, and is expected to form a production capacity of 36 GW of monocrystalline silicon wafers by the end of 2019. It is the world's largest manufacturer of monocrystalline photovoltaic products. Tongwei has formed a high-purity crystalline silicon production capacity of 80,000 tons, high-efficiency solar cell production capacity of 12GW, and is expected to form 20GW of solar cell production capacity by the end of 2019. It is the world's largest solar cell manufacturer and the world's top three high-purity crystalline silicon producers. .
Longji said that the signing of the strategic cooperation agreement will help to ensure the sales of the company's monocrystalline silicon wafers and the stable supply of high-purity polysilicon materials.
In the view of Xiao Xiaochuan, an analyst at CMB Securities, the National Energy Administration officially issued the Notice on the Relevant Matters Concerning the Construction of Wind Power and Photovoltaic Power Generation Projects in 2019 and the Work Plan for the Construction of Photovoltaic Power Generation Projects in 2019. In addition to the previously published electricity price documents, consumption protection documents and the first batch of affordable Internet projects in 2019, the policy framework for the PV industry's parity online transition period has been basically completed. It is expected that the parity projects and bidding projects put into operation in the year of 2019 will form a strong support for the domestic demand for PV in the second half of the year. The annual domestic installed capacity is expected to reach 40GW, and with the arrival of the peak of the parity project and the increase of the bidding price of subsidized projects. Domestic PV demand is expected to achieve further growth in 2020.
Cinda Securities analyst Liu Qiang said that in the second half of the year, domestic and foreign PV installation demand resonance, the era of superimposed parity came, Longji shares as the leading leader of the photovoltaic industry to expand production and fixed its own advantages.
The "Securities Daily" reporter learned from Longji shares that the company plans to produce 36GW, 50GW, and 65GW of silicon rod/silicon wafer capacity by the end of 2019-2021; the cell capacity will reach 10GW, 15GW, and 20GW, respectively; It has reached 16GW, 25GW and 30GW respectively, further consolidating its leading position in the industry.
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