Another energy giant listed!

The great development of the photovoltaic industry has also spawned the demand for upstream high-purity polysilicon products
.

According to the "2020 Polysilicon Market Review and Market Outlook" of the Silicon Industry Branch, the global silicon wafer production in 2020 will be 161GW, the total global polysilicon demand will be 543,000 tons, and the annual polysilicon supply will be in short supply by 18,000 tons
.

The good news is that the photovoltaic industry is one of the most competitive industries in China in the world, which of course also includes the production of polysilicon upstream of the industry.
China accounts for 4 of the top five polysilicon manufacturers in the world
.

The domestic polysilicon output in 2020 is about 396,000 tons, and the global polysilicon output is 525,000 tons; the total polysilicon output of the above four companies in 2020 will account for 76.
3% of the total domestic output and 75.
4% of the global output
.

After ten years of sharpening a sword, focusing on the field of high-purity polysilicon, Daqo Energy represents the strength of China's photovoltaic upstream enterprises with its self-developed technology
.

Daqo Energy's polysilicon production capacity is 70,000 tons per year.
In 2020, the company's output is 77,300 tons, with a domestic market share of 19.
52% and a domestic market share of 22.
68% for the production of monocrystalline silicon wafers
.
Under the caliber of the consolidated statement, Daqo Energy's polysilicon production in 2020 ranks second in the world and second in China
.

Under the wave of Chinese stocks returning to A, Daqing New Energy (DQ.
US), a leading polysilicon company, spun off Daqing Energy (688303.
SH) successfully listed on the Science and Technology Innovation Board yesterday, becoming the seventh A-share photovoltaic company with a market value of over 100 billion
.

Before that, there were only six photovoltaic companies with market value exceeding 100 billion yuan, including LONGi, Tongwei, Sungrow, Zhonghuan, NAURA and Foster
.

Daqo Energy issued 300 million shares at an issue price of 21.
49 yuan and raised a total of 6.
447 billion yuan
.
On the first day of listing, Daqo Energy's stock price closed at 61.
11 yuan, up 184.
36%, with a market value of 117.
637 billion yuan
.

two

It is worth mentioning that this is also the largest IPO of a private company in the A-share market this year, and the amount of funds raised is higher than the earlier Tianneng shares
.
As of July 22, a total of 277 companies have been listed on A-shares this year.
Daqo Energy ranks third in terms of fundraising, after Three Gorges Energy and Hehui Optoelectronics.
The former is a state-owned enterprise and the latter is controlled by Shanghai state-owned assets
.

At the close of today's market, Daqo Energy closed up 2.
24% at 62.
48 yuan per share, with a market value of 120.
3 billion yuan
.
Based on this closing price, the company's chairman Xu Guangfu and Xu Xiang's father and son are worth more than 1.
53 billion US dollars (about 10 billion yuan)
.

Daqo Energy, as the "first stock of Xinjiang Science and Technology Innovation Board", is mainly engaged in the research and development, manufacturing and sales of high-purity polysilicon
.
After ten years of exploration and development, the company has formed a high-purity polysilicon production capacity of 70,000 tons per year with high quality, low energy consumption and low cost, ranking firmly in the first echelon of the industry
.

Its main product is high-purity polycrystalline silicon, which can be made into polycrystalline silicon wafers and monocrystalline silicon wafers after melting ingots or crystal pulling and slicing.
It is the basic material of the solar photovoltaic industry and the upstream supplier of LONGi Co.
, Ltd.
, Zhonghuan Co.
, Ltd.
, etc.
The quality of polysilicon material directly affects the key performance of downstream products
.

Data shows that as of June 8, 2021, Daqo Energy has 147 patents, including 145 domestic patents and 27 domestic invention patents
.

The prospectus shows that Daqo Energy’s revenue in 2018, 2019, and 2020 was 1.
994 billion yuan, 2.
426 billion yuan, and 4.
664 billion yuan, respectively; the net profit was 405 million yuan, 247 million yuan, and 1.
043 billion yuan, respectively.
An increase of over 760%
.

Under the background of "carbon neutrality", the company's performance in 2021 will usher in explosive growth compared with 2020
.

Daqo Energy's revenue in the first quarter of 2021 was 1.
66 billion yuan, and its net profit attributable to the parent was 582 million yuan, a year-on-year increase of 130.
42%
.

Daqo Energy expects to achieve operating income of 4.
13 billion yuan to 4.
17 billion yuan in the first half of 2021, an increase of 95.
42% to 97.
31% compared with the same period in 2020; it is expected that the net profit attributable to the parent in the first half of the year will be 1.
88 billion yuan to 1.
92 billion yuan, a year-on-year increase up 530.
72% to 544.
14%
.

three

Looking back at the development history of many companies, we can find that the entrepreneurial history of many companies took place in small factories with less than ten or dozens of employees
.

Daqo New Energy was established in November 2007.
It is a subsidiary of Daqo Group in the new energy sector.
The actual controllers are Xu Guangfu and Xu Xiang and their sons
.

Xu Guangfu, born in 1942, is 78 years old this year and has been running Daquan Group for half a century
.
As early as 1966, he also started from a small manual workshop producing grinding wheels, bakelite and other parts
.

In 2000, the company was restructured and Jiangsu Changjiang Electric Group was established, which was later renamed Daquan Group;

In the spring of 2005, Xu Guangfu, chairman of Daqo Group, and his son Xu Xiang knew the news of the transfer of polysilicon technology from a European company at the first time, and the two immediately flew to Europe to negotiate with the company
.

Although the conditions put forward by the other party are extremely harsh, and there are differences within the board of directors of Daqo Group, Xu Xiang believes that "this project must be invested
.
"

In 2006, the "Godfather of Photovoltaic" Shi Zhengrong became the richest man in China.
The myth of wealth he wrote attracted Daquan Group to enter the field of polysilicon
.

On August 7, 2006, Xu Guangfu finally made a decision.
Daqo Group signed a technology transfer contract with the company and also signed a technology exclusivity agreement.
According to this agreement, Daqo Group has exclusive rights to the technology in China
.

On June 27, 2007, the largest polysilicon production base in China with a total investment of 4 billion yuan - Daquan Group's polysilicon project started in Wanzhou, Chongqing
.

The first phase of the Daquan Wanzhou project of 1,500 tons of polysilicon was successfully put into operation in July 2008.
In August of that year, the company bucked the trend in the cold current of the financial crisis and started the construction of the first-phase expansion of the 2,500-ton polysilicon project, which was successfully completed in July 2009.
put into production
.

On the whole, Daquan can be regarded as "catching up with a good time".
At the stage when the price of polysilicon has reached its peak and turned downward, relying on the first phase of the project to be put into production, it has earned the "first pot of gold" in the polysilicon link, and it has become a time when One of the largest polysilicon producers in China
.

On October 7, 2010, Daqin Energy officially landed on the New York Stock Exchange, following the footsteps of many leading photovoltaic companies at that time and successfully listed in the United States
.

wantonly

With the rapid development of more than ten years, the generation of photovoltaic enterprises that have basically established their market position is gradually beginning to hand over their own power
.

On June 17, JA Solar Technology Co.
, Ltd.
issued a reminder announcement on the change of the controlling shareholder's shareholding structure.
The actual controller of the company, Jin Baofang, transferred his 25% equity of Jingtaifu to his daughter Jin Junmiao;

At the Shanghai SNEC Photovoltaic Exhibition that just ended in June, some media reported that Gao Haichun, the daughter of Trina Solar's chairman Gao Jifan, has officially entered the company's management.
Sharing views on issues such as peak, carbon neutrality, and the realization path of the photovoltaic industry
.

Compared with Gao Haichun, Xu Xiang, Zhu Yufeng, Wang Weifeng, Xun Yao and others joined their father's career much earlier
.
Wang Weifeng, son of Wang Baixing, chairman of Zhongli Group
.

Xu Xiang, the son of Xu Guangfu, is one of the directors of Xinjiang Daquan
.
Since December 2015, he has been a director of Xinjiang Daquan Company
.

Zhu Yufeng is the son of Zhu Gongshan, a well-known photovoltaic circle.
Currently, Zhu Yufeng is the executive director of GCL-Poly Energy Holdings Co.
, Ltd.
, and the vice chairman and president of GCL Group
.

In the same year that Zhu Yufeng joined GCL, Miao Qing, daughter of Yingli Group founder Miao Liansheng, also joined Baoding Tianwei Yingli New Energy Co.
, Ltd.
, responsible for the company's investors and director of public relations
.

Xun Yao, the son of Xun Jianhua, the founder of Yijing Optoelectronics
.
On January 5, 2018, in the resolution of the first meeting of the sixth board of directors, he was officially elected as the chairman of the board of directors of Yijing Optoelectronics
.

Taking ten years as the line, look at the top ten companies in the global polysilicon production scale in the past ten years! I found that some are still there, and some have already faded out!

Here is a question: For many photovoltaic companies, should they go public?

There is such a conflict in the movie "Partners in China": for Cheng Dongqing, going public will affect his position in the company, which is not conducive to continuing to promote his strategy; for Meng Xiaojun, going public is proof that the company The best way of value can also become a bargaining chip in foreign negotiations
.
Also, cash in!

In fact, in reality, this question has become a fact: can it be listed as soon as possible? The vast majority of companies are trying to find ways to enter the capital market
.

Also, being able to go public is of great significance to some companies and their management teams, and even a matter of life and death
.

After all, companies are like people.
Only by living first can they have the capital to talk about their dreams!