Daiwa published a research report that the average selling price of polysilicon continues to decline, while the price of M6/M10 silicon wafers and batteries has dropped, but it is expected that the production capacity will be extremely tight by the end of this year. It is expected that the price of polysilicon will fall slightly in the second half of this year, and will maintain a price of no less than RMB150 per kilogram until the second quarter of next year, giving a positive rating to China's solar sector. Buy rating on Suntech Energy (1799.HK) and Fleet Glass (6865.HK), and rating on Suntech Solar Energy (0968.HK).
Daiwa said that after the price of photovoltaic glass was reduced by 30% earlier, the company is expected to further reduce the price of photovoltaic glass by 4% to 9% due to the continuous increase in the local peak of glass storehouses, but believes that the company will further increase its production capacity to offset the impact of falling prices.
Daiwa expects that Xinyi Optical Energy's capacity growth rate from 2021 to 2022 will be slower than that of Fleet Glass, and that polysilicon, which has a strong average selling price this year, will support Suntech's profits.
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