Demand with increased by more than 15% in 2020. 1 q - from the perspective of the revenue 3 q19 photovoltaic sector revenue with increased 29. 47%, all the segment link revenue growth. Considering demand 2019 deferred, parity and project bidding project, 40-2020 domestic demand 50 gw, the boiler ability of heat accumulation and abroad, considering the industrial chain prices, parity area to expand overseas, overseas demand is expected in 80 - this year Based on the 90 gw growth above 15% to 90 - The 130-100 gigawatts (gw), global demand 140 gigawatts (gw), with increased more than 15%. : if the current price of single crystal PERC (3) cell line %, profits at the bottom of the industry, supply repression, light power projects silicon prices decline next year at the same time, the profitability or to pick up. From the perspective of the research and development spending 1 q - 3 r&d spending 30 q19 photovoltaic plate. 5 billion yuan, with the increase of 54. 24%, power plant operation recruiting r&d spending ratio of 2. With increased 0. 80%, 45 PCT, mainly besides silicon, other parts r&d spending increased. Due to the end of the 630 small grab both at home and abroad, combined with the domestic bidding project starts relatively late, and 7 October as weak demand side, single crystal cell and single crystal components since mid-june prices down about 23% / 13% respectively, and density of material and single crystal silicon chip due to the pattern of supply and demand price strength. This paper statistics the September to today issued a total of 2. 85 gw pv power plant EPC and 1. 9 gw component bid opening information. Specifically, CGNPC in development of 410 mw, 603 mw, guangzhou energy saving of 345 mw, 220 mw biomass power jin can group, the people vote for a 200 mw, 190 mw hubei energy group, huaneng 180 mw photovoltaic network statement: this information is reproduced from the power grid cooperation media or other Internet website, solar photovoltaic network published the article for the purpose of the information, does not mean that agree with his point of view or confirm its description. From the perspective of the operation ability in addition to equipment, other receivable turnover link acceleration, cell, components, and inverter link inventory turnover speed, other parts inventory week change slowly. 1 q - from the perspective of the capital investment 3 q19 photovoltaic plates capital spending with 35. 09%, mainly equipment link capital spending rose, the only other link capital spending fell. Solar photovoltaic webex: overseas demand, export increase, prices appear differentiation in mid-june industry chain.
base with low amount so, capital expenditure. (2) silicon: 2020 can release, but due to the release of rhythm and polysilicon wafer support prices, lower limit; Investment advice: about 20-2020 leading performance growth is expected to 30%, the current main leading value corresponding to less than 15 times in 2020, high-growth industry is relatively low, the key recommendation: tong wei co, longji stake, foster, xinyi light, sunlight, power supply, linyang energy, Oriental nison, etc. 2020 different relative price performance of each link. 1 q - from the perspective of the net profit 3 q19 photovoltaic plate buckle with the net profit in 64. 45%, in addition to the component part, other link buckle the net profit year-on-year increase. Because of the bidding project starts relatively late, the domestic photovoltaic new interconnection capacity of 16 in the third quarter of 2019 years ago. 0 gw, lower compared to 53. Last year, 7%, pv industry chain prices decline after 40-531 50%, overseas demand stimulated, 1 q - 3 q19 China photovoltaic modules export 49. 9 gw, with increased 80%. 1) silicon material: in 2020, almost no new capacity, supply and demand situation improves, profitability will improve; Among them, the power station running recruitment EPC project owner units is given priority to with soe/state, this also reflected from the side, in project bidding and parity, the state-owned enterprises has become the absolute main force. The article content is for reference only.