html From August 3rd to August 8th, Jolywood Holdings received 333 institutions for research. I admit, this data really surprised me.
Jolywood has brought us huge profits, and I have been paying attention to the development and changes of Jolywood. Last summer, Mr. Lin Jianwei, chairman of Jolywood Co., Ltd., came to our Hekou District, Dongying City for investigation. I was very happy. Over the past year, I have been paying attention to the follow-up, but unfortunately I found that this news is only a piece of news. We did not participate in the second wave of increases in
Zhonglai scores. There are successes and shortcomings. The successful side is to know the fear. After a stock has made a huge profit, it is better to choose to stay away; because the profit after a sharp rise is huge, and the subsequent rise and fall are unpredictable. The downside is that there is still insufficient understanding of Jolywood's subsequent development, and it missed the second wave of sharp increases. But my mentality is good, and I feel more at ease when I look for stocks with new bottom lurks again.
is relatively familiar with the basic situation of Jolywood Holdings in recent years. Especially after participating in the two recent dividend distributions, the holding cost is relatively low. The performance of Zhonglai Shares in the first quarter of this year was about 0.03 yuan per share, which was not very impressive. Compared with the stock price of about 17 yuan, it did not have a valuable competitive advantage, so there was no buying plan. Because of this, on the evening of August 4, Jolywood Co., Ltd. released its interim report for this year. The company achieved a net profit attributable to the parent company of 231 million yuan in the first half of the year, a year-on-year increase of 642.89%; the net profit after non-deductions was 211 million yuan, a year-on-year increase of 4330.21%. At that time, I was also shocked. The performance of 0.21 yuan per share was already very impressive. What was even more exciting was the development speed of Jolywood. The 43-fold increase in non-net profit was unforeseen by us small retail investors.
html On August 5, after seeing the interim report of Jolywood Holdings, I wrote an article "Jolywood Shares: The performance of the interim report has increased significantly, the number of shareholders has nearly doubled, it is really difficult to make a choice", expressing my expectations and doubts . Combined with the recent observation that as many as 333 institutions are intensively investigating Jolywood Holdings, my current real thoughts are as follows: I am indeed optimistic about Jolywood Holdings in the long term, and the intensive surveys by many institutions have also proven this. There is no doubt about this; in the short term, if you need to choose an opportunity to enter, this is It's a matter of personal choice.
My first concern is that there are too many shareholders. The closing price on June 30 was 17 yuan, and the number of shareholders was 77,450. At the closing price on August 12, the stock price was 20.16 yuan. In simple logic, these shareholders are all It should be profitable. As for how many investors are still standing guard at the previous high of 24 yuan, it's hard to say. Currently, Jolywood's market value is approximately 22 billion yuan, ranking 726th in the two cities. We can only observe patiently how determined the many institutions participating in the survey will be to raise the stock price and collect chips from these shareholders, and then continue to raise the stock price to make profits on their own investments. What's more, whether many institutions can form a synergy is still an issue that is still uncertain.
Another factor that worries me is that after many dividends and distributions, the institutional cost of long-term holdings has been very low. Based on the current stock price, the profits are extremely considerable. These institutions have no money to sell. Only they know the restrictions on selling stocks and when to sell them.
Of course, my worries may be wrong, or I may have missed the best opportunity to buy shares of Zhonglai. However, shouldn’t mature investors calmly analyze a piece of news and make prudent decisions? Most of the investors who forget all about it and rush in as soon as they see good news have no chance of success! "Better to miss than buy the wrong thing" may be a description of mature investors. I am optimistic about the future of Jolywood, but I don't have to get involved immediately at the current price.
What concerns me most about Jolywood is that the TOPCon3.0 technology currently being developed by the company is expected to reduce non-silicon costs. As the leader of TOPCon technology in the field of photovoltaic in the two cities, the iterative updates of technology and frequent research and development results are undoubtedly very attractive to investors.
According to the current production situation, the significant increase in the proportion of coated backsheets has promoted gross profit margin growth. This year’s backsheet shipments will exceed 220 million square meters. With the large-scale release of production capacity and the booming domestic and European and American markets, it is inevitable that Jolywood's performance will surge. The domestic market sales in this year's interim report were 3.62 billion yuan, while the 2021 interim report was 1.636 billion yuan, an extremely impressive increase; what's even more gratifying is that the company's gross profit margin also increased significantly from 12.52% in last year's interim report to 19.24% in this year's interim report %. This year's interim report reported that sales in foreign markets were 1.018 billion yuan, while last year's interim report was 709.5 million yuan. The growth rate is also very good. The gross profit margin increased from 4.93% last year to 7.35% in this year's interim report. The growth rate is also considerable. "Davis's positive double-click" may be happening in Zhonglai Shares.
The main advantages of TOPCon batteries are that the investment per unit of equipment is relatively low, there is a lot of room for improvement in battery efficiency, and the larger the scale, the lower the non-silicon cost. The main reason for the improvement in the gross profit margin of Jolywood's high-efficiency battery components is that the order pricing mechanism has changed, and the company's ability to predict market prices and control supply chain costs has been greatly improved compared to last year.
Jolywood has IBC technology and has shipped in small batches. However, due to the high cost, it decided to combine TOPCon and IBC to study TBC technology, and progress has been made so far. The battery technology route planned in the future is TOPCon1.0-TOPCon2.0-TOPCon3.0-TBC-perovskite stack. This is also very worth looking forward to.
Jolywood has started laying out the carbon footprint certification work in the first half of this year, and is expected to obtain relevant certifications this year or the first half of next year. Once this certification is passed, it will be able to continue to promote Jolywood's technological innovation at a larger and deeper level, improve production technology, optimize resource and energy utilization, and enhance the company's market competitiveness. In response to product carbon emission requirements set by developed countries and Chinese products, avoid possible trade barriers . And it can enhance the social image of the company and its products and fully reflect the company's social responsibility.
At present, Jolywood's production capacity layout is mainly in Taizhou and Taiyuan. Taizhou has TOPCon 1.0 and 2.0 technology production capacity, and Taiyuan has 2.0 technology. Currently, the second phase of the Taiyuan project is being financed, and the first phase that has been put into production requires further published data to know the specific production capacity. As the company's technology iterates, it is believed that Jolywood's own premium capabilities and cost advantages will be further confirmed.
According to the information disclosed by Jolywood, in order to further strengthen the supply of the company's raw material silicon wafers, Jolywood signed a "Strategic Cooperation and Investment Agreement" with Taiyuan Municipal Government and Gujiao Municipal Government in March this year to prepare for Gujiao City invested in a project with an annual output of 200,000 tons of industrial silicon and an annual output of 100,000 tons of high-purity polysilicon. The first phase plans to invest in a project with an annual output of 200,000 tons of industrial silicon and an annual output of 10,000 tons of high-purity polysilicon. In the second phase, it is planned to build a polysilicon project with an annual output of 90,000 tons, and the total investment amount is expected to be 14 billion yuan. The first phase of the project is expected to be completed and put into production in 2024. This is the first time that the company has entered the upstream photovoltaic industry. If Jolywood can successfully realize the integrated operation of the upstream and downstream industries, it will be of decisive significance to its own cost control and risk resistance capabilities.
"In the first half of this year, although the expansion of Shanxi's new battery production capacity caused the company's operating cash flow to appear negative on the report, the production capacity is gradually climbing." Relevant staff said, "The company's multiple projects were selected in Shanxi, mainly based on Consideration of electricity prices and labor costs. The 14 billion yuan project is still in the approval process and needs to wait for the shareholders' meeting, which will not put pressure on funds for the time being. "
As for the future development of Jolywood, we will wait and see. We will choose the opportunity for long-term observation. Get involved!
Make a calm decision and participate with caution. I wish everyone good luck with your investment!
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