On December 7, the IPO review status of Suzhou Kuaike Photovoltaic Electronics Co., Ltd. changed from "accepted" to "inquired", which is one step closer to listing. It is understood that the main business of Kuaike Electronics is photovoltaic junction boxes and photovoltaic connectors. According to the current emphasis and utilization of renewable energy solar energy, the International Energy Agency predicts that by 2030, the global cumulative installed capacity of photovoltaic is expected to reach 1,721GW. The market prospects for devices and components are promising.
With its clean and safe advantages, solar energy has become the fastest-growing renewable energy source. According to the International Energy Agency's forecast, the cumulative global installed capacity of photovoltaics is expected to reach 1,721GW by 2030. As its transmission device, photovoltaic connector is a key part for interconnection between components, combiner boxes, controllers and inverters in photovoltaic power generation systems. The market prospects are promising.
On December 7, a company that produces photovoltaic junction boxes and photovoltaic connectors, Suzhou Kuaike Photovoltaic Electronics Co., Ltd. (hereinafter referred to as "Quaike Electronics") sprinted the IPO review status of the science and technology innovation board from "accepted" to "already Inquiry".
According to the information, the main business of Kuaike Electronics is the research, production and sales of photovoltaic junction boxes and photovoltaic connectors, of which photovoltaic junction boxes account for more than 80%. They are mainly used in the new energy industry and solar photovoltaic fields. Customers include JA Solar, leading enterprises in the photovoltaic field such as Trina Solar and HANSOL.
At this stage, the development of Kuaike Electronics depends on the prosperity of the downstream photovoltaic industry. Kuaike Electronics stated that after the launch of the "531 New Deal" for domestic photovoltaics in May 2018, the subsidies and product price standards of the photovoltaic industry have been lowered. At the same time, the domestic market demand has declined, which has had a greater impact on enterprises in the photovoltaic industry chain.
By following the pace of overseas construction of photovoltaic module factories, Kuaike Electronics deployed overseas production bases in advance and actively explored overseas markets. The sales revenue of photovoltaic junction boxes still maintained a growth trend that year, but the sales revenue of photovoltaic connectors has not recovered to the level before the New Deal-531.
With the application and promotion of large-size silicon wafers and double-sided power generation technology, the power of photovoltaic modules has been significantly improved, and it has entered the era of monolithic cells "500W+". There are higher requirements for the performance of photovoltaic junction boxes and connectors. In order to adapt to the development of photovoltaic technology and maintain the company's core competitiveness, Kuaike Electronics has formulated strategies for future new product development and upgrading of existing products.
According to the prospectus, the number of shares in the public offering does not exceed 16 million shares, and it is planned to raise 331 million yuan. It is mainly used in photovoltaic module intelligent protection and connection system expansion projects and R&D center construction projects. After the completion of the expansion project of photovoltaic module intelligent protection and connection system, on the basis of the original production capacity, 11 million sets of universal photovoltaic junction box production capacity will be added per year, and the production capacity of optical storage connectors will be increased by 9 million pairs per year.
In terms of connectors, QC Electronics' connectors are mainly used in the photovoltaic field. QC Electronics said that in the future, as the funds raised are in place, it will focus on developing other fields such as wind energy, energy storage, new energy vehicles, and photovoltaic solar thermal system integration products. Electronic connector products.
In terms of junction box, it is divided into general junction box and intelligent junction box, which play the connection function. The universal junction box is composed of a box body, cables and connectors. Compared with the general junction box, the intelligent junction box adds an intelligent control chip module to improve the overall power generation efficiency. Kuaike Electronics takes the intelligent junction box controlled by the IC chip and the "standard modular bypass protection circuit" as the key development direction to increase the market share of the intelligent junction box.
At the time, Kuaike Electronics also prejudged my country's junction box market in the prospectus: under conservative circumstances, the national junction box market will increase from 117 million in 2020 to 217 million in 2025; optimistic. Under the circumstances, the national junction box market will increase from 150 million pieces in 2020 to 267 million pieces in 2025. In the long run, photovoltaic power generation will gradually enter the era of parity. In the short term, the development of the photovoltaic industry is still greatly affected by domestic industrial policies.