“Because we have a large backlog of PV modules, the company has lost nearly 1 million yuan since the second half of this year.†Manager Liu, a PV trading import and export company in Shandong, told the reporter of China Business News yesterday. Said. In a few days, most domestic PV companies will announce third-quarter earnings, and it is estimated that a large number of enterprises will suffer losses. In the second quarter , one of the main losses was the Aoqi shares (19.490, 0.69, 3.67%) (300082.SZ), which had a net profit of 47.58 million yuan in the third quarter of this year, down 22.45% year-on-year and quarter-on-quarter respectively. 25%, the company said that the decline in performance was mainly due to the decline in the photovoltaic industry. And extension of the new energy
(9.15 , 0.17, 1.89%) (002218.SZ) just announced its third quarter results. The medium-sized PV module company had revenue of 379 million yuan in the quarter, down 11% year-on-year, while operating profit loss was 44.43 million yuan and net profit loss was 39.42 million yuan, compared with the profit of 64.97 million yuan in the same period last year. dramatically drop. "In the third quarter of this year, photovoltaic companies, especially those that directly make components and wafers, estimate that few are profitable." Mr. Yang, a high-level PV module manufacturer listed in the US, told reporters that they are still finishing The data of related companies is very pessimistic. On October 17, Artes Solar (CSIQ.NASDAQ), the world's top ten component company, revised its third-quarter earnings forecast. The company estimates that the gross profit margin for the quarter is only 2% to 5%, which is significantly lower. From the previous 9% to 12%. "If the gross profit margin is less than 5%, then it is likely that the company's net profit is also negative." Chaori Sun (16.91, 0.47, 2.86%) (002506.SZ) insider judgment of the investor relations department. A number of industry market analysts revealed to reporters that after the announcement of the second quarter of this year, the probability of the industry ushered in a comprehensive loss is great. In the third quarter, with the collapse of wafer and polysilicon prices, this pattern is basically doomed. In the second quarter, companies that had lost money included Suntech Power (STP.NYSE) with a loss of US$260 million, LDK.NYSE with a loss of US$88 million, and China Semiconductor Photovoltaic (CSUN.NASDAQ) with a loss of US$17 million. Hanwha New Energy (HSOL) .NASDAQ) Loss of $11 million, etc. Some companies are also on the verge of losing money. For example, 昱. Sunshine (SOL.NYSE) has a profit of only 2 million US dollars, and Artes Solar and Trina Solar (TSL.NYSE) are only 7 million US dollars and 12 million US dollars. "You see that these low-profit companies are component companies, and they may have problems in the third quarter." Mr. Yang said to reporters. High inventory in the third quarter The above manager Liu analyzed that many companies were not sure about product price trends and market demand in the first half of the year, so a large number of products were produced in advance, and many stocks were backlogged. Companies must make an accrual in the third quarter, which is large, but this is at least psychologically prepared for investors. If PV listed companies choose to make an accrual in the fourth quarter earnings report (that is, the annual financial report), then many investors will vote with their feet, and the stock price will be severely suppressed. Moreover, some investors will think that companies are hiding the fact that "there is a high inventory in the third quarter." Just recently, Tuo Rixin directly announced that it had accrued 16.09 million yuan, basically raw materials and inventory products, accounting for about 41% of the company's total loss in the first three quarters. In addition, many companies are selling products at a loss. Some products, if placed directly in the warehouse, may lose more than the loss. Manager Liu said that even though some PV companies now claim that they have a large shipment in the third quarter, they may contain water. “For example, if the component company ships, but the European buyer does not sign it, but directly presses it in a local port in Europe, then this shipment should not be recorded in the financial statements.†He said that part of the The situation encountered by component companies is the same as that of component trade importers and exporters. “Our company's business process is: buying products from component companies and selling them to European buyers. Previously, you can earn the difference. But now, Europe does not pick up our goods at all, and we have to bear the loss of this part. We have lost nearly 1 million yuan this year.†However, there are also some PV module companies whose performance is not very bad. The above-mentioned person of the Super Sun said that at the beginning of this year, because the company implemented a flexible sales plan, it sold the components directly to the PV power station and the power station distributor instead of selling it to the roof project. The price of the former is about 10% higher than the market price. "So we don't lose money in the third quarter. But our approach also has a drawback. The company's accounts receivable are high. In the past, the other purchaser gave us a 3-6 month payment period, now at least It is more than 6 months." From July to September this year, Chaori Sun achieved revenue of 930 million yuan, a year-on-year increase of 50.46%; net profit of 100 million yuan, an increase of 0.6%.
(9.15 , 0.17, 1.89%) (002218.SZ) just announced its third quarter results. The medium-sized PV module company had revenue of 379 million yuan in the quarter, down 11% year-on-year, while operating profit loss was 44.43 million yuan and net profit loss was 39.42 million yuan, compared with the profit of 64.97 million yuan in the same period last year. dramatically drop. "In the third quarter of this year, photovoltaic companies, especially those that directly make components and wafers, estimate that few are profitable." Mr. Yang, a high-level PV module manufacturer listed in the US, told reporters that they are still finishing The data of related companies is very pessimistic. On October 17, Artes Solar (CSIQ.NASDAQ), the world's top ten component company, revised its third-quarter earnings forecast. The company estimates that the gross profit margin for the quarter is only 2% to 5%, which is significantly lower. From the previous 9% to 12%. "If the gross profit margin is less than 5%, then it is likely that the company's net profit is also negative." Chaori Sun (16.91, 0.47, 2.86%) (002506.SZ) insider judgment of the investor relations department. A number of industry market analysts revealed to reporters that after the announcement of the second quarter of this year, the probability of the industry ushered in a comprehensive loss is great. In the third quarter, with the collapse of wafer and polysilicon prices, this pattern is basically doomed. In the second quarter, companies that had lost money included Suntech Power (STP.NYSE) with a loss of US$260 million, LDK.NYSE with a loss of US$88 million, and China Semiconductor Photovoltaic (CSUN.NASDAQ) with a loss of US$17 million. Hanwha New Energy (HSOL) .NASDAQ) Loss of $11 million, etc. Some companies are also on the verge of losing money. For example, 昱. Sunshine (SOL.NYSE) has a profit of only 2 million US dollars, and Artes Solar and Trina Solar (TSL.NYSE) are only 7 million US dollars and 12 million US dollars. "You see that these low-profit companies are component companies, and they may have problems in the third quarter." Mr. Yang said to reporters. High inventory in the third quarter The above manager Liu analyzed that many companies were not sure about product price trends and market demand in the first half of the year, so a large number of products were produced in advance, and many stocks were backlogged. Companies must make an accrual in the third quarter, which is large, but this is at least psychologically prepared for investors. If PV listed companies choose to make an accrual in the fourth quarter earnings report (that is, the annual financial report), then many investors will vote with their feet, and the stock price will be severely suppressed. Moreover, some investors will think that companies are hiding the fact that "there is a high inventory in the third quarter." Just recently, Tuo Rixin directly announced that it had accrued 16.09 million yuan, basically raw materials and inventory products, accounting for about 41% of the company's total loss in the first three quarters. In addition, many companies are selling products at a loss. Some products, if placed directly in the warehouse, may lose more than the loss. Manager Liu said that even though some PV companies now claim that they have a large shipment in the third quarter, they may contain water. “For example, if the component company ships, but the European buyer does not sign it, but directly presses it in a local port in Europe, then this shipment should not be recorded in the financial statements.†He said that part of the The situation encountered by component companies is the same as that of component trade importers and exporters. “Our company's business process is: buying products from component companies and selling them to European buyers. Previously, you can earn the difference. But now, Europe does not pick up our goods at all, and we have to bear the loss of this part. We have lost nearly 1 million yuan this year.†However, there are also some PV module companies whose performance is not very bad. The above-mentioned person of the Super Sun said that at the beginning of this year, because the company implemented a flexible sales plan, it sold the components directly to the PV power station and the power station distributor instead of selling it to the roof project. The price of the former is about 10% higher than the market price. "So we don't lose money in the third quarter. But our approach also has a drawback. The company's accounts receivable are high. In the past, the other purchaser gave us a 3-6 month payment period, now at least It is more than 6 months." From July to September this year, Chaori Sun achieved revenue of 930 million yuan, a year-on-year increase of 50.46%; net profit of 100 million yuan, an increase of 0.6%.
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