In recent years, the share price of the photovoltaic equipment industry such as Jinlang Technology, Yuneng Technology and Hoymiles has been in a continuous trend, and there are not many decent ones during the period, and each small ** seems to be in order to fall deeper. Many investors and professional managers have suffered huge losses in this photovoltaic equipment industry, especially some heavy positions.
Jinlang Technology belongs to the new energy equipment industry, focusing on the research and development, production and sales of new energy power products such as photovoltaic inverters. The company's main product is string inverter, which is an indispensable core equipment for solar photovoltaic power generation system. Jinlang Technology has a high market share in the field of photovoltaic inverters, and its performance has been relatively stable. The current price-earnings ratio is 22, and the net profit in the past three years is 106 billion yuan, 47.4 billion yuan, 19.3 billion yuan.
At the beginning of the year, the stock price of Jinlang Technology was still 18099, current price 6249, has been **65%, is one of the largest decline in photovoltaic equipment stocks. In recent quarters, the company's debt ratio has been between 60% and 70%, maintaining a relatively high debt ratio, and the company may need to bear higher debt costs and have certain financial pressure.
Yuneng Technology belongs to the photovoltaic equipment industry, engaged in the research and development, production and sales of module-level power electronic equipment in distributed photovoltaic power generation systems, and has a certain reputation and influence in the industry. This ** ticket was listed on June 8, 2022, which is a new stock, and it rose 77 on the first day of listing98% to close at 20548, in the middle there is a rush to 51459, an increase of 150% compared to the first day of listing. Current price 11208, compared with the first day of listing, the price has been **45%, relative to the stock price at the beginning of the year 3934**71%.
The current price-to-earnings ratio of Yuneng Technology is 43, and the net profit in 2022 is 36.1 billion yuan, net profit in the first three quarters of 2023 is 1800 million yuan, sluggish growth. The profit margins for the first three quarters of 2023 were: 62%, in a gradual decline. Perhaps the company needs to make a breakthrough in technological innovation and market development to further improve its competitiveness and provide more returns to investors.
Hoymiles Co., Ltd. belongs to the photovoltaic equipment industry, mainly engaged in the research and development, manufacturing and sales of photovoltaic inverter-related products, energy storage related products, electrical complete sets of equipment and related products. It has several high-profile listings: the company with the highest issue price in the history of A-shares; One of the companies with the highest over-subscription multiple; One of the companies with the highest price-to-earnings ratio of issuance. The company originally wanted to raise 500 million yuan, but finally overraised 5 billion yuan. The company takes so much more money at once, and it doesn't know how to use it, and there is no way to use it for financial management, and the company's interest income from financial management alone is more than 100 million a year. So we need to be rational about the company's profit structure.
At the beginning of the year, the stock price was still 6238, the current price 21802, has **65%. The current P/E ratio is 31 and the P/B ratio is 283, dividend yield 273%。
After reviewing the situation of the above three **votes**, let's select a few heavy positions of these **** to take a look at their situation.
At the end of the third quarter of 2023, GF High-end Manufacturing**A, Da Mo Basic Industry, and AVIC New Sailing Flexible Allocation Hybrid A all have heavy positions in Jinlang Technology, accounting for the proportion of net value respectively. 36%。
At the end of the third quarter of 2023, Da Mo Basic Industry and AVIC New Sailing Flexible Allocation Hybrid A will be heavily positioned in Yuneng Technology, accounting for the proportion of net value respectively. 41%。At the same time, these two ** will also be heavily held in Hoymiles shares at the end of the third quarter of 2023, accounting for the proportion of net value respectively. 33%。
The above three **, in addition to maintaining an ultra-high position ratio on these three ** tickets, also has a lot of other photovoltaic **. This year's performance can be imagined to be very unsatisfactory. Specifically, as of December 11, 2023, GF High-end Manufacturing**A, Da Mo Basic Industry, and AVIC New Sailing Flexible Allocation Hybrid A have returned -46 respectively this year15%、-45.59%、-47.91%。It's a pretty maddening payoff, so to speak.
Investment is risky, **Past performance does not represent the future, sharing is not recommended, and the operation needs to be judged by individuals.