According to public information, SolaX Energy (688717SH) will open an online subscription for new shares this Friday, and will soon land on the Science and Technology Innovation Board, with its main products being photovoltaic energy storage inverters, energy storage batteries, etc., which are used in the field of distributed photovoltaic energy storage and grid-connected applications, and are mainly sold to overseas customers.
On November 30, not long ago, AISWEI Technology became the latest withdrawal case and announced that the IPO listing was stranded, this company is similar to SolaX Energy, which is also an inverter, ranking ninth in the global shipment list of inverter companies in 2022Previously, many photovoltaic industry chain enterprises such as Yuanshi New Materials, Huayao Optoelectronics, Jucheng Technology, and Topband New Energy also took the initiative to withdraw.
Performance pressure is an unavoidable obstacle for these photovoltaic industry chain enterprises. Taking SolaX Energy as an example, the prospectus clearly discloses that based on the company's current operating conditions, market environment and orders in hand, the company expects its operating income in 2023 to be 4.5 billion yuan to 4.7 billion yuan, which is basically the same as that in 2022Net profit attributable to shareholders of the parent company is expected to be 105 billion to 115 billion yuan, basically the same as the same period last year.
What is this concept?In the first three quarters, SolaX Energy's revenue and net profit attributable to the parent company were 4 billion yuan and 10.0 billion yuan, respectively1.8 billion yuan, according to the company's estimates, means that in the fourth quarter, the company's revenue is only 5 to 700 million yuan, and the net profit attributable to the parent does not exceed 100 million yuan, compared with the previous average quarterly revenue of 1.3 billion yuan and more than 300 million net profits
What makes Lichangjun puzzled is that what has become of ** miserably now?Take the Science and Technology Innovation 100 Index as an example, after peaking at more than 1,800 points at the end of 2021, it has only 1,017 points left yesterday, a drop of almost half, and a decline of nearly 14% since the beginning of this year alone. Even if the overall market environment is not good, can it be said that this has nothing to do with the quality of listed companies?Shareholders are so miserable, why do you want to let a new stock that is about to change its performance to be listed?
Let's go back to SolaX Energy, which is about to IPO, was founded in March 2012, and before 2019, it was just a little brother who couldn't get a turn, with an average annual net profit of only 10 million. Since 2019, Hanwha Group, a South Korean chaebol, has become rich in 2022, and its net profit has soared to 1 billion, and SolaX Energy is also the only cooperative manufacturer of Hanwha Group's household products.
According to public information disclosure, the two companies established business contacts through exhibitions, but what made Lichangjun incomprehensible was why the South Korean chaebol chose a little-known company with an operating scale of less than 400 million yuan in 2019 as its own **businessman, and it is also the only partner with exclusivityIs this commercially reasonable?
Anyway, judging from the sales data, Hanwha Group, which also purchased 1.2 billion yuan from SolaX Energy in 2022, has plummeted to 3200 million, fortunately, there is another distributor registered in the Czech Republic, GBC, which continues to contribute to SolaX Energy's performance. The distributor GBC's main sales destinations are Germany and other European regions, how sustainable is SolaX Energy's business in the future?I can't say too much, when I participated in the European Forum before, I saw the differences and confrontations between the representatives of the two sides on the industrial economy and even more issues, and I am afraid that I can't be blindly optimistic about the future.