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Beijing Star Power News Network On a weekend in early July, there was a lonely and empty space in the development area of Wuxi’s national high-tech industry.
Aodi car with the “Meng” character of Suntech Power Holdings Co., Ltd. located at No. 9 Xinhua Road was driving into the main door of the company. Three healthy southern men walked off the car with a hesitant look. At this time, Yang Zhiping, manager of the Shangde Public Hospitality Department, quickly walked forward and held their hands enthusiastically.
Wu Xi just walked out of the air of the plum dry season, and was so hot that it was burning, just like Yang Zhiping’s smiling eyes. And from the dark skin of the southern man, he seemed to smell the smell of the sun.
The sky of southern China is trapped here. Sun is illuminating the photovoltaic giant Suntech walks out of the haze. Ningxia and Inner Mongolia became the most common places for Shi Zhengrong, chairman of the board of directors and chief executive officer of Suntech. However, he needs more policies.
”PolicySugar daddy, the same is a policy. What Suntech wants to develop the demand market is the market, and the market is responsible for the support of demand policies.” When receiving the “Investors Report”, Shi Zhengrong did not hesitate at all, and there was no silence between the three “policies” that were urgent and continuous.
This is an industry that is promoted by policy, but before the financial crisis, it was more dependent on the high-level supplementary policies of the European and Japanese (Japan). Now, Shi Zhengrong has shifted his vision to China.
”Write a letter to Hu Feng? Well, this is a good suggestion.” The words reveal the ideology and self-importance of this “Yangguang richest man”.
Aftering policy
When Shi Zhengrong returned to China to start his business with US$400,000 in 2000, he must have expected that the heroine of the 2008 Winter, Wan Yurou, was the only young actress in Jiabao, and one day it would be so cold.
In addition to his two-year salary in Australia, Shi Zhengrong brought back Escort with more than 10 solar battery invention patents he personally holds. “At that time, I wanted nothing, so I was filled withSugar baby‘s passionate blood.”Blood melts in a business plan that is 210 pages long. Shi Zhengrong traveled all over China and kept traveling and speaking until he met the relevant departments of Wuxi City. Both sides hit it off. In May 2001, Suntech announced its establishment to produce solar power distribution components.
In 2002, when Shi Zhengrong built Suntech’s first 10-megawatt solar battery production line, its production capacity was comparable to the previous four years of Chinese solar battery sum, and improved the manufacturing level of China’s crystalline silicon solar battery for 15 years.
The following two years were the two years of Suntech’s continuous development and the rapid development of the solar industry around the world. According to statistics, the world’s photovoltaic television scale increased by 15 times from 800,000 megawatts in 1995 to 11.94 million megawatts in 2004, with the growth rate reaching 60% in 2004.
2004, rest. If no one recognizes it, wait for someone to take it. “France Lyon Securities (Asia) issued a business report with the theme of “Sugar baby’s hot solar energy”, calling the solar industry “hissing hot”, and believed that “even though it is taking off, it is not like a bubble at all, but a real investment target that is reliable.”
Solar, with high sky, continues to emit light and heat to the earth, but the cost of using solar light to generate electricity is always higher than that of photovoltaic industry enterprises that rely on coal to generate electricity and operate commercially. Only by relying on the support policy can they obtain a fair return rate.
The German authorities have since 1999 ordered Internet price subsidy policies and low-interest financing services for photovoltaic industries. The support of photovoltaic technology in japan can be traced back to the 70s of the previous century. The federal and state authorities of the american federal government have issued various supplementary and tax exemption policies.
In China, large-scale application of solar energy was almost a vacant, let alone policy support. But this expensive system of Lyon is given to Shi Zhengrong Teng to move space. In 2004, Suntech’s solar battery production talent ranked tenth in the world. By September 2005, Suntech’s production will only rise by two more places. ButSales are almost all in markets outside China.
On December 14, 2005, Shi Zhengrong took his leader Suntech to enter the New York Stock Exchange, opening the first domestic civilian enterprise to go to the United States to directly enter the New York Stock Exchange, and found a record of the highest amount of initial financing for mainland civilian enterprises in the american securities market.
Suffering from coldSugar daddyWinter
Screwed in five years to become a richer Chinese man, Shi Zhengrong’s victory greatly comforted the development of photovoltaic industry in China.
According to data released by Solarbuzz, the market share of Chinese manufacturers increased from 20% Agile in 2006 to 35%. By 2008, a total of 10 domestic photovoltaic companies were listed overseas, with a financing scale of US$2 billion. Shi Zhengrong is a “catalyst” called the Sugar daddy photovoltaic industry.
But in the winter of 2008, the industry changed drastically. Relying on the form of high-income supplementary support and growth for a long time, it has been challenged by real people, and “stocking up original data” has become the last straw to put down the pressure.
When the Dows Index began to fall in the fourth hour of 2007, Suntech’s stock price continued to surge, rising from $35 to nearly $90, but in 2008, its stock price fell far beyond the Big Bank and fell to $5 at one point.
”Investors’ Report later analyzed the consequences of its decline in stock prices and believed that the impact of the financial crisis is only one of them, and the lack of financial performance in the company is an important reason for causing investors to fall into their beliefs. This also received a response from Shi Zhengrong. When he received an interview with the “Investors Report”, he admitted that the sudden drop in the company’s gross profit margin was “must be related” to the financial crisis.
Open data shows that Suntech achieved sales expenditure of US$1.9 billion in 2008, an increase of 43% year-on-year, but its gross profit margin fell from 13% in 2007 to 9% in 2008, resulting in its profit margin being reduced by half year-on-year.
In 2004, although Sugar baby’s sales expenditure was only US$85 million, its gross sales profit margin was as high as 23%. In the following years, Suntech’s gross sales profit margin was rapidly declining at an average annual rate of 3 percentage points.
The Investors’ Report believes that the sharp drop in raw material silicon prices is a reason why the gross profit margin of photovoltaic battery production factories that previously stockpiled polycrystalline silicon raw materials has been reduced and their financial performance is not safe.
The photovoltaic industry has always been saying that “silicon is king”. In the era of huge profits in the years before, the price of polycrystalline silicon, as an important raw material for photovoltaic industries, continued to rise, and almost all companies regarded “those who get silicon have the whole country” as the iron rule. Suntech Pinay escort is no exception.
Shi Zhengrong admitted that in September and October 2008, Suntech “really bought some higher silicon in advance”, with a price of between US$350 and US$400 per kilogram, and the price of the materials was “somewhat was not quite appropriate”. Since October 2008, silicon prices began to plummet, and fell below US$200 per kilogram in November, a drop of 50%. Suntech’s gross profit margin fell to 0.6% in the fourth time in 2008.
”Investors’ Report” believes that the reason why Sundry’s landing is the increasing industry competition. In addition to Suntech, other polysilicon photovoltaic battery companies have also suffered from a sharp decline in profits.
Sugar baby The other two Chinese solar companies listed on american have dropped faster than Suntech. The gross profit margin of Jiangxi EVI (LDK) dropped from 35% in 2006 to 1% two years later, and even -6% in the first quarter of 2009; while the gross profit margin of China Electric Photovoltaic (CSUN) dropped from 10% in 2006 to -2% in 2008.
Sunlight in the haze gap
At the end of 2008, Suntech built the world’s largest photovoltaic curtain wall with a large area., on the 6900 square meters of wall, the optical plate is full of cloth, shaped like a spreading double wing. The West Wing is the center of R&D, and serves as the headquarters of TC:
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