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At the beginning of the new year, the photovoltaic concept stocks that have brought infinite imagination to investors are busy with the difficulties of selling assets and lowering financing schemes. More enterprises are suspending production to cope with the low tide of PV product price upside down. On January 31, a number of listed companies in the PV industry reported a performance forecast of a 90% drop in earnings. At a time when the mainland PV market is mourning, Taiwan’s Hon Hai Group has recently announced that it will invest 100 billion yuan to enter the photovoltaic industry. With its superior cost control capability, it will attract the world’s largest polysilicon producer, Poly GCL Energy. Partner. Recently, it was also reported that Kodak, which filed for bankruptcy protection due to financial crisis, is going to enter the thin film solar cell business. The global PV market is entering the era of price competition and low gross profit, and the industrial layout of large foreign capital has brought great challenges to PV concept stocks. As Shu Li, CEO of GCL-Poly, said, 2012 will be a year of watershed significance in the history of the photovoltaic industry. The sluggish stock price continued to fall, Aerospace Electromechanical [7.23 3.29%] (600151.SH) is worrying about the issue price of private placement. Since July last year, the company's share price has fallen by 40%, far lower than the previously announced private placement price. On January 18, Aerospace Electromechanical decided to reduce the amount of fundraising from 2.163 billion yuan to 1.89 billion yuan. The issue price was adjusted from the original plan of 9.96 yuan per share to 6.58 yuan per share, and the approval time was extended by one year. A total of 229.78 million shares were issued, all of which were used for investment in photovoltaic industry projects. "Considering that the issuance can be implemented smoothly, the company will adjust the issuance plan and extend the approval time." Aerospace said that although the amount of private placements has been reduced, the company's direction of PV expansion remains unchanged. It is reported that the company's issuance plan was announced as early as July last year, due to the market downturn, the company had to make adjustments. At present, in order to ensure the progress of the project, the company has to use its own funds to make upfront investment. The main business of Aerospace Electromechanical is Auto Parts. Since its involvement in the photovoltaic industry in 2007, the company plans to increase its sales revenue to 14 billion yuan in 2015, so it is necessary to step up construction. Due to the downturn in the PV market, it is not uncommon for companies to adjust their financing plans. On January 11, ST Boyuan [5.62 5.05%] (600656.SH) announced that major asset restructuring had collapsed. The reason is that since the fourth quarter of 2011, the target company Ruijing Technology has been affected by industry fluctuations, and its operating performance has declined. The parties have failed to reach an agreement on the adjustment of the transaction price. This means that ST Bo Yuan wants to turn into the hope of solar cells and component manufacturers. In September 2011, the company plans to purchase 100% equity of Ruijing Technology for 1.87 billion yuan. Ruijing Technology is a solar cell manufacturer, with a net profit of 119 million yuan in the first half of 2011. Unexpectedly, since the introduction of the ST Boyuan restructuring plan, the Shanghai Composite Index [2330.41 0.77%] fell, and the performance of Ruijing Technology declined. The two sides had significant differences on the adjustment of the transaction price. In the end, they had to announce the termination of the restructuring. It is worth noting that on the day the announcement of the reorganization was terminated, ST Boyuan's share price was 5.46 yuan, which was 42% of the previously announced private placement price. For Ruijing Technology, which is going to be listed on the backdoor, it is still unclear when the performance will pick up. The research silicon stocks [10.74 2.78%] (600206, SH) are busy transferring their rare earth business, with a total transfer price of 32.208 million yuan. The company has a 20% stake in Jiangsu Guosheng Rare Earth Co., Ltd., which is mainly engaged in the research and development of rare earth oxides and compounds, and the sales of rare earth metals. Previously, there have been rumors in the market that the concept of rare earths has been popular, and other rare earth assets will be injected into listed companies. This is also the concept that listed companies have risen sharply. This liquidation means that the company clearly understands that in the absence of rare earth mineral resources, the cost of rare earths is higher, and the company is less profitable than it is to give up assets. The company said that the transaction was mainly to focus on the development of the main business, and the cash flow obtained improved the company's operations. Previously, the research silicon stocks have said that the company's wafer manufacturing business has entered a stable and benign development stage. “Currently, the polysilicon spot market is basically in the freezing period, because most manufacturers are in the state of production shutdown and maintenance, and the cost is higher than the market price, which makes manufacturers dare not produce easily.†An analyst who has long tracked the A-share market revealed that the industry is in the process. With a low operating cycle, companies that are not cautious about cash flow and inventory control will face greater risks. Polarization On January 31, various A-share PV concept stocks released their 2011 performance forecasts. Sunflower [10.84 4.43%] (300111.SZ) is expected to reduce its profit by 90%, Aerospace Electromechanical Profit will fall by 90%, Jiangsu Sunshine [3.03 2.02%] (600220.SH) is expected to reduce its profit by more than 80%, Super Sun [0.00 0.00 %](002506.SZ) is expected to reduce its profit by 65%. Tuo Xinxin [10.45 0.48%] (002218.SZ) announced that the loss will reach 250.62%. This result was not expected by various listed companies. In the third quarterly report, Chaori Solar announced that its annual profit will “increased by 35% to 65%â€. Sunflower head Wu Jianlong is the richest man in the 2010 Hurun Energy Rich List. The net profit for 2010 is 250 million yuan. Jiangsu Sunshine is suffering from the plunge in polysilicon prices. The company's production cost per kilogram of polysilicon is $87, while the current spot price of polysilicon is about $30, which means that Jiangsu Sunshine will produce more than 50 US dollars per kilogram. Loss. In the face of losses, PV companies have said that “in the report period, the overall price of the photovoltaic industry fell, the supply of the industry exceeded demand, and the exchange losses of the euro caused a sharp drop in net profit in 2011â€. Insiders pointed out that in the fourth quarter of last year, the domestic spot price of polysilicon continued to fall, followed by the suspension of production storms, including the first batch of polysilicon access lists announced by the Ministry of Industry and Information Technology, and the company's expansion plan also came to an abrupt end. Li Junfeng, deputy director of the Energy Research Institute of the National Development and Reform Commission, revealed that one-third of China's PV companies are in production and semi-discontinued. According to the statistics of the Silicon Industry Branch of China Nonferrous Metals Industry Association, more than 40 polysilicon enterprises in China have completely stopped production except for listed companies. At present, mainland China is the largest photovoltaic production base. At a time of depression, foreign investment has increased. “Guo Taiming has been preparing for the two years in the solar energy field and has been waiting for the best time,†said a senior PV company. “The global PV market has entered a price competition and low-margin era. Hon Hai’s high-cost control ability has attracted GCL-Poly, the world's largest polysilicon company, is its mainland partner." In December 2011, Taiwan Hon Hai Group announced that it would invest 30 million US dollars to establish a solar energy company in Jiangsu to produce solar cells. According to the plan, Hon Hai has a Shanxi Datong New Energy Project and a Jiangsu Yancheng Suining Project in mainland China. The total investment of the two projects is as high as 100 billion yuan, which will realize 100,000 tons of polysilicon production capacity and 10GW of solar cell and module capacity. The production line of components and components will be put into production around April. In most organizations' view, 2012 is the real test of the global PV market. Europe's installed capacity is likely to be flat or even retrogressive this year. The European debt crisis and the adjustment of fiscal expenditure policies and the rise of trade protectionism are still unavoidable. An energy industry analyst predicts that in 2012, the production of solar cells will reach at least 25GW, while the real demand is only 21GW. In 2012, the global price of polysilicon is unlikely to increase significantly. The average annual price is about 40~50 per kilogram. Around the dollar. This means that the industry will still show excess market. “A company that has no competitiveness will get the final answer this year,†said Shu Hua, CEO of GCL-Poly, to the newspaper.