Abstract: Entering 2024, the domestic PV market is full of uncertainties. A few days ago, the well-known photovoltaic giant and listed company on the Beijing Stock Exchange-Ainengju released the news of the company's polysilicon cell discontinuation, which aroused widespread attention inside and outside the industry. Ainengju has also become the first domestic photovoltaic company to announce the suspension of production since 2024.
According to the news, the well-known photovoltaic giant Ainengju issued an announcement, saying that due to the impact of technology iteration and market demand, in order to reduce losses and overall operating performance, the company's management has discussed and decided that the company's polysilicon cell production line will completely stop production, and the shutdown time will last until March 31, 2024. It is worth mentioning that the specific resumption time of Ainengju's production line will be determined according to the future market demand and orders, that is, the resumption time of this time is to be determined. This is also the first PV listed company in China to officially announce the cessation of polysilicon cell production lines in 2024, so it is highly controversial.
In the above-mentioned announcement of the suspension of production, Ainengju frankly admitted the current situation, saying that the polysilicon cell business that has been discontinued this time accounts for a high proportion of the company's total business and is the company's main revenue. However, with the change in the market supply and demand relationship, monocrystalline silicon cells** have declined rapidly, and the market advantage of polysilicon cells has been lost, and the demand has dropped sharply. In desperation, the company had to choose to shut down the production line to alleviate the operating pressure. In fact, for the company's employees, the shutdown means that revenue will suffer.
According to public information, Ainengju was established in 2010 and has been in operation for 14 years. Since its establishment, Ainengju has focused on the development and operation of distributed photovoltaic power stations and the sales of polycrystalline silicon cells, and is a clean energy service provider that focuses on the investment and operation of distributed photovoltaic power stations and carries out photovoltaic product manufacturing and other businesses. As a "veteran" of the domestic photovoltaic industry, Ainengju has suffered a waterloo in revenue and profit in the past 2023.
According to the financial report released by Ainengju a few days ago, the company's operating income in 2023 will be 3600 million yuan, down year-on-year; The net profit attributable to shareholders of listed companies was 58.41 million yuan, down 517%。The reason behind the revenue and profit is precisely because of the changes in market supply and demand, and the continuous price reduction of monocrystalline silicon cells, which has caused the main product polysilicon cells of Ainengju to lose its competitive advantage, and has now reached the point of discontinuation.
According to the analysis of industry insiders, the road in front of Ainengju is transformation, from polysilicon to monocrystalline silicon. However, for Aeengju, the transformation means greater investment in equipment, but it is also full of risks, such as the market has already released unprecedented production capacity, and the market competition for monocrystalline silicon cells has become very fierce. In other words, Ainengju, with polysilicon as its core product, has rashly entered a new "track", and there is no certainty of victory, and it also needs to face increasingly tragic involution.
Despite this, Enengju still took a crucial step not long ago. According to reports, in October 2023, Ainengju set up a wholly-owned subsidiary, Jiaxing Aite Quartz Products, to carry out quartz products processing business, and plans to invest in the construction of "an annual output of 54,500 pieces of photovoltaic quartz new material project", which is also planned to be put into operation at the end of February this year.
In general, in the face of increasingly complex market competition, this listed company did not sit still, but actively sought new business layouts and explored new ways out in the cracks.
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