I know that it is not snow, but because there is a dark fragrance - Wang Anshi.
In the case of continuous internal and external benefits and continuous sharp rises in the external market, A-shares are still soft. The weekend is good for warmth, will it get better next week?
The biggest uncertainty in the bottom area is that I don't know how long it will last, and I don't know. Those who say that ** want to be overturned and restarted are basically talking without going through the brain, what age is this, it is easy to push the question of who is still coming?
Even if it comes to the last fall, it will not affect the long-term. Looking at the future, this is the historical bottom. If you get through it, the spring will bloom, and if you can't get through, you will be a laughing stock. These words have been said many times, repeatedly nagged, and there is nothing else to ask for, all of them are the voice of the heart.
2. Why do you still hold LONGi?
After LONGi Green Energy's third quarter report for 23 years came out, everyone was disappointed, because this result looked too bad compared to its competitors.
LONGi's business performance in the past two years has also been unsatisfactory, and its business strategy is always conservative, but it has not fought for the list that should be sought, and the net profit is **. The U.S. market is also worse than other competitors, always hitting a wall repeatedly, and has not completed the goals set in the annual report for two consecutive years.
Therefore, many people were disappointed in LONGi and complained loudly, feeling that LONGi had lost its competitiveness since then. Is this really the case?
I would like to share a little reason why I chose LONGi. Why is it still holding (light positions) after falling by more than a dozen points at present, just from the perspective of my thinking.
There are two kinds of thinking when people think about problems, one is spatial thinking and the other is temporal thinking. When we consider anything, we should not only think about the short-term interests, but should think more long-term.
Excellent entrepreneurs have a time mindset, that is, long-termism, they are not limited to immediate gains and losses, because they have greater goals. This is evident in the management of LONGi.
The last time there was a major divergence in the PV industry was when there was a battle between mono and multi. At that time, almost all companies chose the multi route, just because the cost of multi was lower than that of mono at that time.
However, the essence of photovoltaic is to pursue the continuous reduction of the cost of electricity, starting from the first principles, although the cost of polycrystalline was lower at that time, but the conversion efficiency was also low, as the monocrystalline with the highest conversion efficiency in theory, there is undoubtedly a better development prospect, and the future cost reduction space is very large.
If LONGi had not been integrated at the beginning, but was just a professional monocrystalline silicon wafer manufacturer like Zhonghuan, I am afraid it would not have been able to get to where it is today. LONGi, on the other hand, has opened up the mono route from the multi-Si market and is firmly integrated, which is based on the time thinking of the management.
The country is easy to change, the nature is difficult to change, and it is difficult to change the temperament engraved in a person's bones. Because Li Zhenguo and Zhong Baoshen are this type of people, they will inevitably make such a choice in the process of running a business.
Looking back on history, why did Wuxi Suntech, Jiangxi Saiwei, and Yingli, the past photovoltaic leaders, fall into the long river of photovoltaic history?
One of the biggest reasons is that they focus too much on short-term profits and make crazy money, ignoring the situation at the time, blindly expanding production capacity, signing long-term orders for polysilicon, and investing a large amount of capital expenditure in the wrong projects, resulting in the eventual cash flow rupture and bankruptcy.
There is a sentence in the "Cycle": The biggest secret of investment is to survive, not the winner is king, but the remainder is king. For management, it is important to consider how to survive in the cold winter.
LONGi is not a perfect company, and management makes mistakes, just like everyone is not a perfect person, but it is the most in line with my heart.
In the past, LONGi's management would think about problems and make decisions from a long-term perspective, and they will do so in the future. Finally, I would like to say that the photovoltaic industry is a very promising industry in my opinion.
I am a scholar, a person who has been focusing on ** for 15 years, if you like it, remember to like and [follow], give people roses with a lingering fragrance, see you tomorrow, good night.
Author: Scholar Shares Compound Interest