Industrial Silicon Industry Information Weekly Report

Issue 10

Sichuan Nabi Silicon-based Materials Research Institute

April 15, 2022

I. Macro articles

(1) Economic Development

1. [Energy Blue Book Forecast: The electricity consumption of the whole society will reach 9.5 trillion kWh in 2025] Industrial Economics Research of the Chinese Academy of Social SciencesInstitute and Social Science Literature Publishing On the 10th, the society jointly released the "Energy Blue Book: China's Energy Development Frontier Report (2021)". The Blue Book predicts that by 2025, the electricity consumption of the whole society will reach 9.5 trillion kWh, the proportion of non-fossil energy power generation will be about 38%, and the national non-fossil energy power generation installed capacity will account for 52%.

After deducting the end of 2025 hydropower (380 million KW, 4000 hours) and nuclear power installed capacity (070 million KW, 7500 hours) to provide 2.05 trillion kWh of electricity , the installed capacity of wind and solar power is 1.56 trillion. Assuming that the installed photovoltaic capacity provides 50% and 1200 hours of utilization, the installed capacity of photovoltaics will reach 650 million KW in 2025. By 2021, the installed capacity of grid-connected photovoltaics in my country will be 310 million KW, namely In the next 4 years, my country's average annual photovoltaic installed capacity increment will reach 85 million KW (about 85GW). This growth rate is in line with the industry's optimistic estimates and the National Energy Administration's proposal to focus on large-scale wind photovoltaics in deserts, Gobi, and desert areas. The reserve data of key projects in base construction are basically the same.

2. [The National Bureau of Statistics released the CPI and PPI data in March, and industrial raw materials continued to rise] In March 2022, the national consumer price rose by 1.5% year-on-year and a year-on-year increase of 275%. On average from January to March, the national consumer price rose by 1.1% over the same period of the previous year. In March 2022, the national ex-factory price for industrial producers increased by 8.3% year-on-year, 1.1% month-on-month, and 88.64% year-on-year; the purchasing price of industrial producers increased by 10.7% year-on-year and 1.3% month-on-month.

3. [National Energy Administration: In March, the electricity consumption of the whole society increased by 3.5% year-on-year, which was a significant increase compared with the 16.9% growth rate in February. Decrease] On April 14, the National Energy Administration released data on the electricity consumption of the whole society in March. In March, the electricity consumption of the whole society in my country continued to grow, reaching 694.4 billion kWh, a year-on-year increase of 3.5%. Among them, the electricity consumption of the primary industry was 7.8 billion kWh, a year-on-year increase of 12.3%; the electricity consumption of the secondary industry was 479 billion kWh, a year-on-year increase of 2.3%; the electricity consumption of the tertiary industry was 106.3 billion kWh, a year-on-year increase of 4.0%; The domestic electricity consumption of urban and rural residents was 101.3 billion kWh, a year-on-year increase of 8.8%.

4. [The Ministry of Finance: In 2022 will arrange a total of 3.65 trillion yuan in special bonds for local governments] The State Council Information Office holds a regular policy briefing , the relevant person in charge of the Ministry of Finance introduced the relevant situation of the issuance and use of local government bonds in 2022. As of the end of March, most of the 1.46 trillion yuan special bond quota issued in advance in December last year has been issued, and the remaining 2.19 trillion yuan annual plan will be issued one after another.

(II) Element Control

1. [The Central Committee of the Communist Party of China and the State Council: Building a Nationally Unified Energy Market] "Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a Large National Market" was released on the 10th. Opinions put forward to build a national unified energy market. On the premise of effectively guaranteeing the supply of energy security, combined with the goal of achieving carbon peaking and carbon neutrality, the construction of the national energy market will be promoted in an orderly manner. On the basis of overall planning and optimized layout, improve the oil and gas futures product system, standardize the construction of oil and gas trading centers, and optimize the layout of key infrastructure such as trading venues and delivery warehouses.

(3) Currency and Capital

1. [The People's Bank of China released financial data in March: capital liquidity continued to improve] At the end of March, my country's broad money (M2) balance was 249.77 trillion yuan, a year-on-year increase of 9.7%; narrow money (M1) balance was 64.51 trillion yuan, a year-on-year increase of 4.7%; the balance of currency in circulation (M0) was 9.51 trillion yuan, a year-on-year increase of 9.9%. The balance of RMB loans was 201.01 trillion yuan, an increase of 11.4% year-on-year, a net increase of 3.13 trillion yuan, an increase of 395.1 billion yuan year-on-year; the foreign currency loan balance was 943.2 billion US dollars, an increase of 2.9% year-on-year, a net decrease of 12.5 billion US dollars, a year-on-year increase of 14.3 billion yuan USD; the balance of RMB deposits was 243.1 trillion yuan, a year-on-year increase of 10%, a net increase of 4.49 trillion yuan, an increase of 857.7 billion yuan year-on-year.

(IV) Environmental protection and safety

——no

Second, the middle view

(1) Industry supply and demand

1. [Industrial Silicon Weekly Review: Affected by the epidemic, transactions were deserted, and prices fell] The price of industrial silicon continued to decline this week. Chemical grade metallurgical grade fell by 1000-1100 yuan / ton, and the mainstream price is 22100-23000 yuan / ton. Export prices were affected by the domestic environment, and FOB prices also fell. Affected by the limited downstream production capacity of industrial silicon, except for the price of aluminum alloy ADC12, which fell by RMB 100/ton this week, the prices of polysilicon and DMC all rose.

From the perspective of the domestic situation, the multi-point spread of the epidemic has resulted in limited downstream production capacity. At the same time, traffic control has led to poor logistics, which affects the enthusiasm of traders. Therefore, the price of industrial silicon has declined under the condition that the terminal consumption of silicon-based materials has not been significantly hindered. Mainly due to the spread of the epidemic in East China and South China, under the background that the prices of silica, electrodes, petroleum coke, freight and other prices are generally stable and have a slight increase, the motivation of industrial silicon manufacturers to continue to cut prices is not strong, and the price of industrial silicon has not been effectively controlled in the epidemic situation. , it will show low volatility,

(2) Technology and economy

——no

(III) Industry development trend

1, [Trina Solar launches "Suqian 8GW TOPCon battery project" to increase solar cell production capacity] Recently, Trina Solar held the "Suqian 8GW TOPCon battery project start-up" at the Jiangsu Suqian production base will". At the kick-off meeting, the company confirmed the work content of this 8GW TOPCon battery project and announced that the project will be put into production in the second half of 2022.

2. [Xinjiang Qiya Aluminum & Electric Co., Ltd. enters the field of polysilicon and supports 400,000 tons of industrial silicon] Sichuan Qiya Group recently announced the environmental impact assessment information of its subordinate Xinjiang Qiya Aluminum & Electric Co., Ltd. with an annual output of 200,000 tons of high-purity crystalline silicon. The project is located in the Xinjiang Zhundong Economic and Technological Development Zone. The first phase and the second phase respectively build a high-purity crystalline silicon production line with an annual output of 100,000 tons. Total planned investment of the project: RMB 8,000,613,100;

2022On February 18, 2022, Xinjiang Qiya Aluminum Electric Co., Ltd. also The public information on environmental impact assessment was released for the 400,000-ton metal silicon project. The project is also located in Xinjiang Zhundong Economic and Technological Development Zone. The project is constructed in two phases, each with 200,000 tons, and 16 33,000KVA submerged arc furnaces are planned to be built in each phase. The total planned investment of the project is 6,600,506,100 yuan

3. [LONGi's 20GW silicon wafer and 30GW monocrystalline cell projects settled in Inner Mongolia] On April 8, the Inner Mongolia Autonomous Region's 2022 mobilization meeting for major projects to promote high-quality development was held in Ordos. On the same day, LONGi's annual production of 20GW monocrystalline silicon rod and slice project, 30GW high-efficiency monocrystalline cell project and 5GW high-efficiency photovoltaic module project officially started construction.

4. [International Renewable Energy Agency: 257GW of new global renewable energy installed capacity in 2021] On April 11, the International Renewable Energy Agency (IRENA) released the "2022 Renewable Energy Installation Data" report. According to the report, as of the end of 2021, the total installed capacity of renewable energy in the world is 3,064GW, a year-on-year increase of 9.1%. Among them, the total installed capacity of hydropower is 1230GW, accounting for 40%; the installed capacity of solar and wind energy is 849GW and 825GW, accounting for 28% and 27% respectively.

5. [Photovoltaic silicon wafer unicorn Gaojing Solar completed 1.6 billion yuan in Series A financing] Recently, Guangdong Gaojing Solar Technology Co., Ltd. announced the completion of 1.6 billion yuan in Series A financing. In addition to the old shareholders IDG Capital and Zhuhai Huafa Group, China Life Investment's China Life Science and Technology Innovation Fund, CCB (Pilot Zhanxing Fund, Manufacturing Transformation and Upgrading Fund), Guangdong Finance Fund (Guangdong Industrial Development Fund) , Shenzhen Investment Holding Capital and other financial investment institutions, Aixu shares, Midea Capital and other industrial investment institutions also participated in this round of investment.

Judging from the current round of A-round financing of Gaojing Solar, operating companies in high-growth industries with hard technology support have good financing prospects.

6. [Inner Mongolia starts the action of eliminating substandard production capacity in the ferroalloy industry] According to the Ordos announcement, the government of Inner Mongolia Autonomous Region has reported on the work of eliminating backward and overcapacity in the "reported by the state leagues Plan has been reviewed and confirmed, the plan requires Inner Mongolia Autonomous Region ferroalloy submerged arc furnaces of 25000KVA and below (except special alloys), and calcium carbide submerged arc furnaces of 30000KVA (excluding 30000KVA) to be withdrawn before the end of 2022. Implementation of capacity reduction replacement at a ratio of 1.25:1. This regulation will have an impact on the industrial silicon capacity and output in Inner Mongolia in 2022, and it also explains the reason why several polysilicon leading companies have frequently moved to Inner Mongolia since the second half of last year.

Third, microscopic articles

(1) Process and equipment case

——no

(II) Operation and Management Cases

——not yet