PV stocks at home and abroad plunged into heavy losses

Han Xun Shanghai reports that the photovoltaic industry is increasingly light.　　With the European market depressed, a serious oversupply, and the Crystal branch of energy "pollution gate" incident, so that the domestic photovoltaic industry, many problems gradually exposed, and the market began to choose "vote with their feet." On the evening of September 27, Wuxi Suntech (NYSE:STP), China's largest photovoltaic cell manufacturer, fell by 7.12% in a day to 2.61 U.S. dollars, and LDK (NYSE:LDK) fell 2.6% to 3.37 U.S. dollars, and Crystal Branch Energy (NYSE:JKS) fell 1.85%　　5.83 U.S. dollars, Crystal o solar energy (Nasdaq:jaso) fell 1.85% to 2.12 U.S. dollars ...　　Many of the U.S. listed "China PV concept stocks" in the U.S. stock market rebound in the context of the reverse, and the heavy warehouse A-share "PV concept" of many public offering funds have also been affected. PV stocks at home and abroad plunged into full decline in early 2011, Wuxi Suntech stock price is still around 9 U.S. dollars. Today, the price has fallen by nearly 70%.　　If from the January 3, 2008 High point of 90 dollars, Wuxi Suntech shares have fallen 97%.　　Similarly, LDK has fallen by 95.5% from its all-time highs, and recently plunged into the "pollution gate" of the Department of Energy down 85%. A fund manager in Shanghai admits that the recent leap forward in PV has been too fast. "Many enterprises start rate is insufficient, the supply is obviously greater than the demand, so, PV concept stocks need to be temporarily circumvented." "Data show that in 2010, China's PV cumulative total installed capacity reached 900 MW, an increase of 125% than 2009." According to the "Renewable energy development" Twelve-Five "plan", PV installed target was identified as 2015 up to 10 gigawatts.　　This means that in the next 5 years, China's PV industry to increase 10 times times.　　But on a global scale, the average annual growth in PV capacity is around 25% a year.　　In view of the temporary inability to see to stimulate the rapid growth of industry demand, the problem of overcapacity is still to be resolved, the price of products will continue, the Great Wall securities researcher Guifang gave photovoltaic industry "neutral" investment rating. "This is polite, after all, Gui Fang Xiao is the seller, my own rating is a full sale."　　"The fund manager admits that the first half of the PV concept stocks, such as Wuxi Suntech, will come a step further." The second quarterly bulletin is beginning to emerge. Wuxi Suntech 2011 Two quarterly results showed that the net loss of ordinary shareholders, 259.5 million U.S. dollars, down 48.4% year-on-year decline of 912.74%.　　LDK's two-quarter net loss was 87.7 million U.S. dollars, down 294.69% year-on-year, down 164.76%. From the PV industry chain products price decline speed and time range, downstream battery film and component prices at the end of February in the early March into the Descent channel, 7 August decline slowed to flat, the recent decline in signs, both since the beginning of the high point so farDeclined by more than 40%. The price of polysilicon was stronger until early April, with a sharp dive in late April and a fall of more than 30% per cent in early June, followed by a steady and slight rebound, which has recently begun to decline.　　Silicon wafer prices fell in mid-March to late June, a decline of more than 40%, 7 August stability, September continued to decline. This has also led to a poor performance of the domestic PV concept stocks.　　On the list of Amaton (002623.SZ), A shares of "PV concept" shares reached 46, and these shares have declined alarmingly since this year. Wind data shows that as of September 27, the record of the year's new low fund heavy warehouse stocks reached more than 170, including the concept of photovoltaic unit, including Tianwei, Jin Jing Technology, State Electric power, comprehensive arts shares and so on. In terms of reinstatement, Tianwei (600550.SH) has fallen by more than 30% in the two quarter, while Jin Jing Technology (600586.SH) fell 31% in three, while the comprehensive Arts shares (600770.SH) declined two and 17% in the three quarter; State power (600795.SH)　　Fell more than 20% in the third quarter.　　The damage to a-share photovoltaic company has caused heavy losses to their funds.　　According to Jin Jing's Science and Technology report, Teda Manulife Value and East Wuzhong certificate Emerging industry funds are the new entry into the top ten circulating shares of the Fund; the second quarter of the new entry into the comprehensive arts shares of the fund is the sea Fortis style advantage and sea Fortis income growth; Peng Hua value advantage in the two quarter significantly increased the state power. PV concept stocks since the two-quarter decline has more or less affected the net performance of these funds, in the last six months, of which the net value of Taida Manulife Fell 16%, East Wuzhong card emerging decline of 20%, the sea Fortis style advantage decline of 18.46%, sea Fortis income growth fell to 13.5%,　　Peng Hua's value advantage declined by about 14%.　　This is only the tip of the iceberg, more heavy warehouse photovoltaic concept of the fund in the past six months, the fate of many. "China's polysilicon production enterprises in the solar-grade polysilicon, the general existence of large energy consumption, small scale, high cost, closed-loop problem, resulting in the overall domestic polysilicon than imported polysilicon quality worse, more expensive." The current downturn in the PV industry makes these companies more difficult to profit.　　said the fund manager. This may continue.　　The rating agency, AURIGA9, 15th gave Suntech its initial rating of "sell" with a target price of $1 per share, before the agency's rating of LDK was lowered from "hold" to "sell". "The first half of the entire industry income and profit growth has declined, the gross margin fell."　　"Gui Fang Xiao believes that the PV industry four-quarter outlook is still not optimistic, industry integration will begin." The winter may be far from over for the public offering of a heavy-storage PV concept unit. Share to: