news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Last week (August 12-18), only one company in the Shanghai and Shenzhen Stock Exchanges terminated its review, which was a GEM applicant, Yida New Energy Technology Co., Ltd. (hereinafter referred to as "Yida New Energy"), and its sponsor was Guojin Securities. In addition, one company in the Beijing Stock Exchange terminated its review, which was Hangzhou Qianyang Technology Co., Ltd., and its sponsor was Minsheng Securities.

The prospectus shows that Yidaxinneng is engaged in the research and development, manufacturing and sales of high-efficiency photovoltaic cells, components and system applications, as well as the investment, construction and operation of photovoltaic power stations. The company's IPO was accepted on December 29, 2023, and the inquiry was made on January 24 this year. However, it did not respond to the first round of inquiries until the review was terminated.

Yida New Energy is in the middle of the industrial chain and is greatly affected by the fluctuation of upstream raw material prices and the adjustment of downstream demand. From the performance, we can see that the company has large fluctuations.

Among them, it suffered a loss of 147 million yuan in 2021. In this regard, Yida New Energy said that due to the impact of the periodic increase in silicon material prices leading to the increase in silicon wafer prices, the company's raw material procurement price increase far exceeded the product sales price increase, resulting in a loss that year.

After a rapid growth in 2023, the photovoltaic industry is sliding towards the bottom of the cycle this year, and the pressure of supply and demand imbalance is increasing. According to InfoLink Consulting data, the average selling prices of high-purity silicon, silicon wafers, batteries, and modules at the end of 2023 will drop by 80%, 58%, 60%, and 45% respectively compared with the beginning of 2023.

Judging from the 2024 semi-annual report, the overall performance of listed companies in the photovoltaic equipment industry has declined. Yida Xinneng is no exception and is expected to face greater performance pressure. The prospectus also shows that in 2023, the average selling price of the company's photovoltaic modules was 1.26 yuan/W, a year-on-year decrease of 27.19%.