Business News Agency February 9th After the large-scale production stoppage, there was an irrepressible polysilicon company bent over. Zhejiang Xiecheng Silicon Industry Co., Ltd., which has invested billions, has entered bankruptcy liquidation, and this is also the first bankruptcy polysilicon plant in China. This may mean that the polysilicon investment bubble formed in recent years is beginning to burst.
“The cost of producing one ton of polysilicon needs 300,000 yuan/ton, but the price is only about 200,000 yuan, and you can only choose to stop production. The cost of polysilicon has dropped during this time, and before that, the cost of polysilicon reached 3,500,000 to 400,000. Yuan/ton.†The head of a silicon company in Sichuan Province can fully explain the current plight of polysilicon companies.
Zhejiang Xiecheng silicon bankruptcy liquidation "has been suspended since the end of 2011, and workers are also given two months of pre-paid wages." According to a person familiar with the situation, workers of Zhejiang Xiecheng Silicon Industry Co., Ltd. have gradually returned home.
The collapse of this company, like many companies in the industry, has no more harbingers. Although at the end of 2011, Zhejiang Xiecheng Silicon Industry Co., Ltd. came to an end. However, its official website can still see its original goal - in 2011 will continue to complete the annual output of 3,300 tons of polysilicon and 400 megawatts of solar photovoltaic battery project construction, after the completion of the project, the total investment will reach 5 billion yuan.
It is understood that the case of bankruptcy liquidation of Zhejiang Xiecheng Silicon Industry Co., Ltd. was ruled on December 23, 2011 by Zhejiang Pinghu City Court, and on December 26, 2011, Zhejiang Zicheng Law Firm was appointed as Zhejiang Xiecheng Silicon. Industry Co., Ltd. Manager.
According to the official website of Zhejiang Xiecheng Silicon Industry Co., Ltd., the company was established in July 2008 with a registered capital of 250 million yuan. It is a high-tech company that develops and produces trichlorosilane, polysilicon, monocrystalline silicon, silicon wafers and solar photovoltaic modules. Technology private enterprises.
Zhejiang Xiecheng Silicon Industry Co., Ltd., which was born out of date, suffered heavy losses when it was put into production. According to a person who had worked in the company, as early as July 2010, the companies that were going to start production started mass layoffs and delayed driving time. Although the company’s official website hangs, the company’s first-phase polysilicon project with an investment of 850 million yuan was successfully put into operation at the end of 2010.
The Zhejiang Pinghu People’s Court announced that the creditors of Zhejiang Xiecheng Silicon Industry Co., Ltd. shall file a claim with the administrator of Zhejiang Zicheng Law Firm within 60 days from the date of announcement on December 30, 2011. The first meeting of creditors will be held at 9:00 am on March 16, 2012 at the second trial court of the hospital.
“In China, companies are on the verge of applying for bankruptcy, which proves that there is no way out anymore.†Li Junfeng, deputy director of the Energy Development Institute of the National Development and Reform Commission, said that Chinese people are more fond of face. In general, Chinese companies rarely use bankruptcy. To end corporate debt, this approach is not used unless there is no way to rely on relatives to borrow money to maintain. This shows that the industry is in deep trouble.
Selling a tonne of loss of 150,000 yuan "This company's collapse has a lot to do with the cost." Shen Fuxin, secretary general of the Zhejiang Solar Energy Industry Association, told reporters that Zhejiang Xiecheng Silicon Industry Co., Ltd. is a small company and its strength is not strong. , And this company's raw materials rely on imports, so that the cost remains high.
What made the situation worse off was because of the sharp drop in the transaction price of polysilicon.
According to Xie Chen, an analyst from the China Non-Ferrous Metals Industry Association’s Silicon Division, the average cost of producing polysilicon in China is 35 million yuan per ton. Currently, the transaction price of polysilicon is around 200,000 yuan per ton, that is, a ton loss of 150,000 yuan.
In its announcement, Leshan Electric stated that the polysilicon market has been sluggish and prices have plummeted. The company's holding subsidiary, Leshan Ledian Tianwei Silicon Technology Co., Ltd., has had its polysilicon production cost upside down and the pressure on repayment of project borrowing has increased. In order to effectively reduce the risk of polysilicon production and operation, reduce operating losses and daily operating expenses, and further reduce costs, the Board of Directors of LeTV Tianwei Silicon Company reviewed and approved the 3,000-ton/year polysilicon production line of LeTV Tianwei Silicon Company in 201111. From the beginning of the month to suspend production and implement technical reforms.
According to the data, in the year 2010, the production of polysilicon by Leda Tianwei Silicon was 1,617.60 tons, with a sales income of 5,762,264 yuan and a net profit of 587,700 yuan.
"The sharp drop in polysilicon prices is mainly due to the extreme contraction of downstream demand." Meng Xianyi, deputy director of the China Renewable Energy Society, said that the continued deterioration of the European debt crisis since 2012 has caused European countries such as Germany and Italy to gradually lower subsidies for the photovoltaic industry. The tightening of economic policies has made the development of power plants more difficult, and the depreciation of the euro has caused exchange losses for downstream companies. At the same time, the demand for polysilicon has decreased as the period of adjustment of photovoltaic power plant rushing to install surges and corporate polysilicon destocking in the European photovoltaic market has ended. The price dropped.
“At present, the entire market is lightly traded, and the atmosphere of reluctance to sell is extremely strong.†Some polysilicon manufacturers stated that despite the large-scale production suspension of domestic production companies, due to the low prices, many companies have suspended external sales, so most companies have certain stocks. According to Xie Chen, at present, part of the transaction price of polysilicon is still slightly lower. As the prices of downstream battery modules and components are still slowly declining, the price of polysilicon is unlikely to see improvement in the short term. It is expected that in the coming weeks, the domestic polysilicon price will continue to hover around 200,000 yuan/ton.
PV companies have entered the harsh winter. Many listed companies are still announcing expansion plans. For example, in July 2012, TBEA announced that it will invest 7.2 billion yuan to build a polysilicon project with a scale of 12,000 tons in Xinjiang; another example is Tianwei. Baotou issued 1.6 billion corporate bonds to promote the development of new energy business, one of the two main businesses.
And now, the suspension of production is no longer a patent for SMEs. The polysilicon industry has entered a period of severe winter, and the situation should be described with a sharp turn.
On December 15, 2011, Tianwei Baobian, Qijiang Hydropower and Chuantou Energy also announced that their subsidiary (Chuantou Energy Custody) Tianwei Sichuan Silicon Co., Ltd. had recently stopped production for temporary overhaul. Previously, polysilicon companies such as Shin Kong Silicon and LeTV Tianwei have also ceased production. According to informed sources, many companies have stopped production for a period of one or two months, but only now announced, and the announcement did not announce the cut-off period.
In fact, the polysilicon industry has fallen into a situation of large-scale production suspension. According to statistics from China Nonferrous Metals Industry Association Silicon Industry Branch, there are about 7 listed polysilicon companies listed on the A-board, and three have closed polysilicon production. Judging from the national situation, there are 43 polysilicon enterprises already put into operation. Only 7-8 companies are still starting to produce listed companies that have not been announced to suspend production. The rest of the companies have already closed the production line, that is, 80% of the enterprises have stopped production.
“The cost of producing one ton of polysilicon needs 300,000 yuan/ton, but the price is only about 200,000 yuan, and you can only choose to stop production. The cost of polysilicon has dropped during this time, and before that, the cost of polysilicon reached 3,500,000 to 400,000. Yuan/ton.†The head of a silicon company in Sichuan Province can fully explain the current plight of polysilicon companies.
Zhejiang Xiecheng silicon bankruptcy liquidation "has been suspended since the end of 2011, and workers are also given two months of pre-paid wages." According to a person familiar with the situation, workers of Zhejiang Xiecheng Silicon Industry Co., Ltd. have gradually returned home.
The collapse of this company, like many companies in the industry, has no more harbingers. Although at the end of 2011, Zhejiang Xiecheng Silicon Industry Co., Ltd. came to an end. However, its official website can still see its original goal - in 2011 will continue to complete the annual output of 3,300 tons of polysilicon and 400 megawatts of solar photovoltaic battery project construction, after the completion of the project, the total investment will reach 5 billion yuan.
It is understood that the case of bankruptcy liquidation of Zhejiang Xiecheng Silicon Industry Co., Ltd. was ruled on December 23, 2011 by Zhejiang Pinghu City Court, and on December 26, 2011, Zhejiang Zicheng Law Firm was appointed as Zhejiang Xiecheng Silicon. Industry Co., Ltd. Manager.
According to the official website of Zhejiang Xiecheng Silicon Industry Co., Ltd., the company was established in July 2008 with a registered capital of 250 million yuan. It is a high-tech company that develops and produces trichlorosilane, polysilicon, monocrystalline silicon, silicon wafers and solar photovoltaic modules. Technology private enterprises.
Zhejiang Xiecheng Silicon Industry Co., Ltd., which was born out of date, suffered heavy losses when it was put into production. According to a person who had worked in the company, as early as July 2010, the companies that were going to start production started mass layoffs and delayed driving time. Although the company’s official website hangs, the company’s first-phase polysilicon project with an investment of 850 million yuan was successfully put into operation at the end of 2010.
The Zhejiang Pinghu People’s Court announced that the creditors of Zhejiang Xiecheng Silicon Industry Co., Ltd. shall file a claim with the administrator of Zhejiang Zicheng Law Firm within 60 days from the date of announcement on December 30, 2011. The first meeting of creditors will be held at 9:00 am on March 16, 2012 at the second trial court of the hospital.
“In China, companies are on the verge of applying for bankruptcy, which proves that there is no way out anymore.†Li Junfeng, deputy director of the Energy Development Institute of the National Development and Reform Commission, said that Chinese people are more fond of face. In general, Chinese companies rarely use bankruptcy. To end corporate debt, this approach is not used unless there is no way to rely on relatives to borrow money to maintain. This shows that the industry is in deep trouble.
Selling a tonne of loss of 150,000 yuan "This company's collapse has a lot to do with the cost." Shen Fuxin, secretary general of the Zhejiang Solar Energy Industry Association, told reporters that Zhejiang Xiecheng Silicon Industry Co., Ltd. is a small company and its strength is not strong. , And this company's raw materials rely on imports, so that the cost remains high.
What made the situation worse off was because of the sharp drop in the transaction price of polysilicon.
According to Xie Chen, an analyst from the China Non-Ferrous Metals Industry Association’s Silicon Division, the average cost of producing polysilicon in China is 35 million yuan per ton. Currently, the transaction price of polysilicon is around 200,000 yuan per ton, that is, a ton loss of 150,000 yuan.
In its announcement, Leshan Electric stated that the polysilicon market has been sluggish and prices have plummeted. The company's holding subsidiary, Leshan Ledian Tianwei Silicon Technology Co., Ltd., has had its polysilicon production cost upside down and the pressure on repayment of project borrowing has increased. In order to effectively reduce the risk of polysilicon production and operation, reduce operating losses and daily operating expenses, and further reduce costs, the Board of Directors of LeTV Tianwei Silicon Company reviewed and approved the 3,000-ton/year polysilicon production line of LeTV Tianwei Silicon Company in 201111. From the beginning of the month to suspend production and implement technical reforms.
According to the data, in the year 2010, the production of polysilicon by Leda Tianwei Silicon was 1,617.60 tons, with a sales income of 5,762,264 yuan and a net profit of 587,700 yuan.
"The sharp drop in polysilicon prices is mainly due to the extreme contraction of downstream demand." Meng Xianyi, deputy director of the China Renewable Energy Society, said that the continued deterioration of the European debt crisis since 2012 has caused European countries such as Germany and Italy to gradually lower subsidies for the photovoltaic industry. The tightening of economic policies has made the development of power plants more difficult, and the depreciation of the euro has caused exchange losses for downstream companies. At the same time, the demand for polysilicon has decreased as the period of adjustment of photovoltaic power plant rushing to install surges and corporate polysilicon destocking in the European photovoltaic market has ended. The price dropped.
“At present, the entire market is lightly traded, and the atmosphere of reluctance to sell is extremely strong.†Some polysilicon manufacturers stated that despite the large-scale production suspension of domestic production companies, due to the low prices, many companies have suspended external sales, so most companies have certain stocks. According to Xie Chen, at present, part of the transaction price of polysilicon is still slightly lower. As the prices of downstream battery modules and components are still slowly declining, the price of polysilicon is unlikely to see improvement in the short term. It is expected that in the coming weeks, the domestic polysilicon price will continue to hover around 200,000 yuan/ton.
PV companies have entered the harsh winter. Many listed companies are still announcing expansion plans. For example, in July 2012, TBEA announced that it will invest 7.2 billion yuan to build a polysilicon project with a scale of 12,000 tons in Xinjiang; another example is Tianwei. Baotou issued 1.6 billion corporate bonds to promote the development of new energy business, one of the two main businesses.
And now, the suspension of production is no longer a patent for SMEs. The polysilicon industry has entered a period of severe winter, and the situation should be described with a sharp turn.
On December 15, 2011, Tianwei Baobian, Qijiang Hydropower and Chuantou Energy also announced that their subsidiary (Chuantou Energy Custody) Tianwei Sichuan Silicon Co., Ltd. had recently stopped production for temporary overhaul. Previously, polysilicon companies such as Shin Kong Silicon and LeTV Tianwei have also ceased production. According to informed sources, many companies have stopped production for a period of one or two months, but only now announced, and the announcement did not announce the cut-off period.
In fact, the polysilicon industry has fallen into a situation of large-scale production suspension. According to statistics from China Nonferrous Metals Industry Association Silicon Industry Branch, there are about 7 listed polysilicon companies listed on the A-board, and three have closed polysilicon production. Judging from the national situation, there are 43 polysilicon enterprises already put into operation. Only 7-8 companies are still starting to produce listed companies that have not been announced to suspend production. The rest of the companies have already closed the production line, that is, 80% of the enterprises have stopped production.
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