Diamond wire, defect | 2020-02-12 13:17:32 | Source North Star Power Network
Abstract In 2019, the single crystal finally dismissed the polycrystal that has dominated for more than ten years from the altar, and its market share was crushed and crushed. . However, the life of the "meritorious" diamond wire that helped the single crystal launch a counterattack was difficult. Diamond wire "Three Musketeers" in the A-share market
In 2019, the single crystal finally removed the polycrystalline silicon that has dominated the fighter for more than ten years from the altar, and its market share was crushed and squeezed. However, the life of the "meritorious" diamond wire that helped the single crystal launch a counterattack was difficult.
At present, the diamond line "Three Musketeers" in the A-share market have announced the 2019 performance forecasts of the three new swordsmen, Sanchao new materials, and Tony Electronics companies. The profit decline has exceeded 100 million, and the indicators are not optimistic.
According to preliminary calculations by the financial department, Tony Electronics is expected to reach 1.4 billion to 150 million US dollars in 2019. The same replacement is also made by New Materials, which has a profit of 3400 million in 2018, and is expected to exceed 41.5 million-46.5 million in 2019.
Sanchao New Materials is expected to achieve a profit of 9.28 million to 13 million in 2019. However, the same period last year, the performance fell by 75% -65%.
Diamond wire is a fixed abrasive cutting line coated with diamond abrasive on the surface of steel wire, mainly for cutting hard and brittle materials, such as sapphire and photovoltaic silicon wafers. In the field of photovoltaic silicon wafers, compared with traditional mortar wire cutting, diamond wire cutting speed is faster and more efficient, which can effectively reduce the silicon material demand per unit wafer, thereby reducing the investment cost per unit wafer. The manufacture and application of diamond wire originated in Japan for the first time. Before 2014, the technology was only in the hands of Japanese suppliers, and the price per meter was as high as 1 yuan. From 2014 to 2015, domestic manufacturers successively achieved technological breakthroughs in the field of diamond wires. Well-known manufacturers include Meichang New Materials, Haller New Materials, Sanchao New Materials, Tony Electronics, and the latter three have successively entered the A-share market in 2017. Called the "Three Musketeers" of diamond wire on the A-share market.
Large-scale mass production along domestic diamond lines. From 2015, the single-crystal giant Longji Co., Ltd. took the lead in cutting large-scale diamond wire cutting silicon wafers, changing the cutting time from 10 hours to 2 hours, and the line consumption from the original 100 The highest meter is 1.5 meters, which greatly reduces the cost of single crystal silicon wafers, brings a revolutionary breakthrough to the photovoltaic industry, and sounds the strong horn of single crystal counterattack.
In 2016 ~ 2017, diamond wire penetrated rapidly in the field of single crystal cutting, and even reached the state of "hard to find in the first line". Under the surge in demand, the new margins of Zeller New Materials, Sanchao New Materials, and Tony Electronic Basin were full. In 2017, the gross profit margins of Zeller New Materials, Sanchao New Materials, and Tony Electronic Diamond Wire Business were 46.71 %, 48.29%, 56.21%. On the contrary, the traditional mortar line hegemony Yicheng has a huge loss in energy efficiency, and once became the biggest "expected king" of the capital market.
The good times are not long. Today, the performance of the diamond line "Three Musketeers" is reversed, and overcapacity is the number one culprit.
Under the temptation of high profits and high returns, the diamond wire industry has attracted many manufacturers to enter, such as Yicheng Xinneng, Tianyuan Group, Henan Diamond, Stellar Technology, etc. At the same time, leading companies such as Meichang New Materials, Halle New Materials, Sanchao New Materials, and Tony Electronics have expanded their production capacity, of which only Meichang New Materials has a total production capacity of 24 billion meters at the end of 2018, exceeding the "Three Musketeers" "Sum of capacity. . However, under the rampant production capacity, the market demand has not steadily rushed as scheduled, especially under the "531" earthquake in 2018. The domestic photovoltaic market has cooled down sharply, and the installed capacity reached a new low in 2019, and the market demand has dropped significantly.
Lele New Materials said that this directly led to a decline in the gross profit of the diamond wire business and directly affected the annual operating performance.
In the face of the industry's bleak prospects, Tony Electronics stated in its "Commitment on Significant Events After the Non-public Issuance of Stocks" announced in August 2019 that it plans to reduce or stop production of diamond wire business in the future. Belle New Materials stated that it will take active measures to respond and continue to improve the company's operating performance through measures such as technological upgrades and strengthened cost control. And the largest city-occupied "Big Mac" Mei Chang new materials are currently actively impacting A shares.
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