Author丨Han Xun Editor丨Wu Yanling Picture Source丨Tuchong Silicon material has hit a new record high. At the same time, large orders in the polysilicon market are frequently signed, and prices continue to trend upward. On June 22, the Silicon Industry Branch of China Nonferrous Met

Author丨Han Xun

Editor丨Wu Yanling

Picture Source丨Tuchong

Silicon material has reached a record high. At the same time, large orders in the polysilicon market are frequently signed, and prices continue to trend upward.

On June 22, the Silicon Industry Branch of China Nonferrous Metals Industry Association (hereinafter referred to as the Silicon Industry Branch) announced the latest polysilicon quotation. The highest silicon material transaction price of 280,000 yuan/ton has refreshed the historical high of 275,000 yuan/ton set in November last year, and the price of single crystal dense materials has also refreshed the historical high of 268,000 yuan/ton set in November last year. The latest data from

PV infoLink shows that the average price of polysilicon dense materials reached 266,000 yuan/ton, an increase of 1.1% from last week, and the highest quotation reached 272,000 tons/ton.

At the same time, on the evening of June 22, Tongwei Co., Ltd. (600438.SH) announced that its subsidiary had recently signed a long-term polysilicon order with Uze Semiconductor (Yunnan) Co., Ltd. (hereinafter referred to as Uze Semiconductor). Sales Contract. According to the contract, the buyer (Yuze Semiconductor) is expected to purchase a total of 161,100 tons of polysilicon products from the seller from 2022 to 2026. According to the latest price, total sales are expected to be approximately 38.5 billion yuan.

With silicon prices skyrocketing, can Uze Semiconductor finally realize all transactions?

A new player in the silicon wafer track

Tongwei Co., Ltd. announced on the evening of June 22 that Yuze Semiconductor is expected to purchase a total of 161,100 tons of polysilicon products from Tongwei Co., Ltd.'s subsidiaries from 2022 to 2026. Based on the average domestic single crystal dense material transaction price announced by the Silicon Industry Branch on June 22 of 270,400 yuan/ton, total sales are expected to be approximately 38.5 billion yuan.

21 Century Economic Report reporter noticed that 's "new player" entering the silicon wafer track this time - Uze Semiconductor, is behind the actual controller of another listed company Mingguan New Materials (688560.SH) Yan Hongjia, Two brothers, Yan Yong.

Qixinbao data shows that Yuze Semiconductor was established in May 2019. The company’s largest shareholder is Jiangxi Fusion Industrial Development Co., Ltd. (hereinafter referred to as Jiangxi Fusion Industrial), which holds 78.1259% of the shares. The shareholders of Jiangxi Fusion Industrial are only There are two people, namely Yan Hongjia, who holds 99% of the shares, and Yan Yong, who holds 1% of the shares. Before

signed the contract with Tongwei Co., Ltd., Yuze Semiconductor had just signed a "Strategic Cooperation Agreement" with Jinbo Co., Ltd. (688598.SH). Yuze Semiconductor and its affiliated companies purchase "conventional and high-purity thermal field carbon/carbon materials, insulation materials and other products" from Jinbo. According to the production capacity planning forecast of Yuze and its affiliated companies in the next three years, Jinbo Based on the current market price of the shares, the estimated cooperation amount of this agreement is approximately 720 million (tax included).

However, since neither Tongwei nor Jinbo disclosed the current financial status of Yuze Semiconductor, it is still doubtful whether it can finally fulfill the order.

For Uze Semiconductor, a "new player in the silicon wafer track", it is difficult to say whether it can "blaze a trail" with the rise of silicon materials.

To use a sentence from a securities firm’s e-commerce analyst to describe it, it depends on whether Uze Semiconductor’s funds can support it. “ After all, the silicon wafer track, the capital chain is the first factor.”

Silicon material prices may Continue to rise

For new players Uze Semiconductor, entering when silicon materials are skyrocketing may not be the best time.

PV infoLink’s view on June 23 is that in a highly active market atmosphere where the silicon purchasing and signing atmosphere remains high, the delivery and shipping period of silicon orders are still thorny issues that plague both buyers and sellers. The ultimate reason is that the supply of silicon continues to exceed demand. Fermentation, no signs of improvement.

said, "In addition, the sudden production accident of the leading silicon material manufacturer on June 16 caused the suspension of production and maintenance, making the silicon material supply that has been slow to increase its supply increase face a situation of 'making matters worse', and the upcoming During the high temperature season in northern China, some other silicon companies may also face partial maintenance production arrangements, which will have a negative impact on the short-term increase in silicon supply."

In addition, Longzhong Information photovoltaic industry analyst Fang Wenzheng said , “There will be less silicon material production in the third quarter. It is expected that Lihao and Tongwei will each have 50,000 tons of production, but the production capacity may be released in the fourth quarter, and the overall pace of new production capacity may slow down.”

The forecast of the Silicon Industry Association shows that there are three domestic companies with maintenance plans in July this year, namely Xinjiang GCL, Xinjiang Daqo, and Oriental Hope. In the same period, although there are Leshan GCL, Baotou Xinte, Baotou Tongwei Phase II, etc. A small amount of expansion of production capacity has been released, but the contribution to the increase in supply is small. It is expected that the monthly output of domestic polysilicon in July will be flat month-on-month, far lower than the original expectation.

said, "In the third quarter, the increase in production expansion of domestic silicon wafer companies will have an impact on silicon materials." Demand continues to increase, and during the same period, some domestic polysilicon companies have more temporary maintenance plans. For the silicon material market that is already in short supply, the industry's overall supply shortage will become increasingly prominent in the short term. Regarding the impact on market prices in the short term, the main reason is that the supply of long-term orders from unplanned maintenance companies cannot be met on time, and sudden bulk orders and urgent orders will increase accordingly. The market expectation atmosphere supports the continued upward trend of silicon material prices. At the same time, according to the third quarter Judging from the total supply and demand of silicon materials, the period of periodic supply shortage of polysilicon will be slightly extended. "

Therefore, the possibility that silicon material prices will continue to hit new highs may become a high probability event.

Even if prices continue to rise, as of the end of the second quarter of this year, the silicon wafer segment's purchase demand for silicon materials is still strong, and various silicon wafer companies Although it is difficult to operate at full capacity, it still strives to maintain a relatively high utilization rate .

Shuangliang Energy Saving’s recent announcement shows that in order to quickly promote the construction and production of the first and second phases of the large-size monocrystalline silicon wafer project, the construction process is faster than According to the original plan, the originally expected external borrowing amount may not be able to meet the company's future funding needs. According to relevant regulations, in order to ensure the actual needs of the company's production operations and business development, it is now planned to increase the previously expected external borrowing amount by 2 billion yuan. After the increase, the company (Including subsidiaries) The external borrowing limit will become 7 billion yuan. The rising trend of

silicon material prices has also been transmitted to the industrial chain.

PV infoLink’s view on June 23 is that although the market atmosphere is gradually becoming more subtle, 182mm size monocrystalline silicon wafers The tightening supply situation is becoming more and more obvious, but all parties in the industry are still waiting for the price announcement by leading companies in the monocrystalline silicon wafer segment. Under the pressure of unabated price increases of silicon materials and continued supply shortages, different sizes of monocrystalline silicon wafers cannot be ruled out The prices between them have begun to diverge.

From the perspective of the secondary market, the recent performance of the silicon material concept stock has been "mixed." Daqo Energy (688303.SH) has fallen for 4 consecutive trading days. On June 23 On the day, it fell 0.56% to close at 65.17 yuan; Tongwei Co., Ltd. made a slight correction after hitting a new high of 55.97 yuan this year on June 20, and closed at 55.18 yuan with an increase of 0.97% on June 23; Xinte Energy (01799. HK) changed from the previous day's decline, rising 4.25% to close at HK$23.30 on June 23; "granular silicon leader" GCL Technology (03800.HK) rose by 1.51% to close at HK$3.37 on June 23, which is far from the previous The high price of HK$3.48 is only half a step away.

Editor of this issue Liu Xueying and intern Li Kailin