South Glass A brewing polysilicon expansion plan

CSG a reported yesterday closed at 12.31 Yuan, while the Guotai Securities looked up to 15 yuan. Recently, CSG A (000012) held a symposium on Polysilicon Market Analysis and science and technology development in Yichang and a conference on meeting the production compliance of a polysilicon project.　　Attended by the Ministry of Industry, the non-ferrous Metal Association Silicon Branch, as well as research silicon unit more than 20 polysilicon enterprises, many institutional investors and the media. After the investigation, we learned that CSG polysilicon products will achieve the design capacity, which can produce 1500 tons of polycrystalline silicon. According to CSG's data, its polysilicon production cost has fallen to a level that is very close to the production costs of foreign companies.　　In addition, we also learned that CSG is brewing will be in the right time to expand rapidly. And we expect the CSG 2010-2012 EPS (earnings per share) is 0.47 yuan, 0.6 yuan, 0.78 yuan respectively. and maintain its "recommended" investment Rating (note: Guotai is expected to 2010-2011 EPS for 0.54 yuan, 0.71 yuan, and this round of real estate regulation will affect its second half to the first half of next year float glass profit, which is its biggest potential risk, currently this part of the impact has not fully revealed,　　But considering its building energy conservation may be supported by policy and the improvement of its solar industry chain, it still maintains its "overweight" investment rating, the target price of 15 yuan.　　South Glass a reported yesterday closed at 12.31 Yuan, Rose 3.62%. Polysilicon Project complete production We were informed that the South Glass polysilicon project to achieve design capacity, in Yichang annual output of 1500 tons of polycrystalline silicon.　　CSG began to put into production at the end of 2008 polysilicon, to this April, has achieved monthly production of polysilicon 123 tons, fully meet the design capacity. And by the Ministry of Special Materials Quality Supervision and inspection center testing, the quality of its polysilicon products to gb/t12963-2009 national standards in the electronic secondary level. This is up to now, China's production of polysilicon products through the State authority to detect the highest level of quality.　　At present, the proportion of CSG electronic products has reached more than 50%.　　According to the data released by CSG, the combined production cost of 123 tonnes per month has fallen below 38 U.S. dollars/kg, and the production cost of 30-35 US dollars/kg announced by foreign companies is very close. CSG believes that this polysilicon production line is the first real sense of the entire closed-loop production, not only fully achieve the production process emissions of SICL4 (four silane) recovery (conversion rate of more than 20%), and through the CDI base, the reduction, hydrogenation and synthesis of the tail gas produced by the chlorine silane, Hydrogen chloride and hydrogen recovery and separation, the recovery rate of 100%, 99.5% and 99.5% respectively, and the recovery of SICL4 also through hydrogen combined into white carbon black by-products. It is this series of comprehensive measures to promote the South Glass high purity polysilicon production cost is lower.　　And based on this lower overall production costs, only to make the South glass in a small scale and domestic polysilicon peers generally feel the pressure is huge and realize the production line of profit.The expansion plan is brewing although the production quality and cost of South Glass single line products have been ranked among the highest in the country, but the scale is small.　　This small-scale partial offset the advantages of good quality and high operational efficiency of the production line.　　To the largest Xuzhou in the case, the enterprise with 18000 tons of polysilicon annual production capacity, claiming to reduce the cost of manufacturing to 34 U.S. dollars/kg. Therefore, the expansion of the South Glass to further improve efficiency, reduce production costs of the choice.　　Therefore, whether the production of polysilicon raw materials, silicon, battery, or solar glass production plans are in the pipeline.　　However, based on the current overcapacity in the polysilicon industry, the next expansion of CSG will start as the market competition. In the process of polysilicon production, CSG has started the technical renovation of this production line, which is expected to reach 2000 tons/year production capacity in the first half of next year.　　and second-line production construction is also in the planning, according to the disclosure of CSG, timely start-up of the second line construction will make its polysilicon capacity of 8000 tons/year level. At present, the entire industrial chain of CSG is still missing one link is polysilicon slicing, with the possibility of the end of May production of polysilicon slicing production of normal operation, it will form a complete industrial silicon powder to the Polysilicon module components of the industrial chain layout. CSG planned polysilicon production capacity of 100MW in June this year, producing 100MW in the first half of next year.　　Relatively long-term production capacity of 500MW.　　At present, CSG Dongguan base of the production capacity of 100MW, to the first half of next year will form 200MW of solar cell production capacity. At present, CSG used for solar cell ultra-white rolling glass production capacity reached 1200 square meters, production line of 2 250 tons production line. CSG has planned to go on a kiln four-line daily melting volume of 1000 tons of ultra-white rolling glass production line, if the production line is put into production, the South Glass Ultra white calendering capacity will exceed the current world's first Asahi nitrate, occupy the global ultra-white rolling glass market more than 25% of the share.