Canadian Solar Power Group Co., Ltd. (hereinafter referred to as "ATS") Science and Technology Innovation Board IPO is currently in the "inquired" state.
According to its prospectus, the third meeting of the first board of directors of Canadian Canadian and the second extraordinary general meeting of shareholders in 2021 will be reviewed and approved. It plans to publicly issue no more than 541,058,824 RMB ordinary shares (A shares), with a total raised capital A total of 4 billion yuan, after deducting the issuance costs, the raised funds will be invested in the 10GW pull rod project, Funing 10GW silicon wafer project, 4GW high-efficiency solar photovoltaic cell project, 10GW high-efficiency photovoltaic cell module project, Jiaxing Arte The construction project and supplementary working capital of the research institute of Sri Lanka Photovoltaic Technology Co., Ltd.
Canadian Solar said that based on the company’s advantages in photovoltaic module technology, international business capabilities, brands and channels, operational efficiency, and profitability, the company’s main strategic plans for the future are as follows: (1) The module business is Under the premise of the first-tier supplier, further improve profitability; (2) Deeply cultivate the distributed system market, improve channels and user stickiness through product differentiation and value-added services, strengthen market leadership, and increase the proportion of distributed market component shipments (3) For the energy storage and system solutions business, quickly form and improve the required technologies and products, use the brand and channel advantages, establish the leading supplier status in the main markets, and realize the development of the components, energy storage and system solutions business. Coordinated development.
In response to the company’s strategic planning goals, Canadian Solar has formulated measures to be taken in each segment of the business:
1. Photovoltaic manufacturing business: gradually increase the degree of vertical integration of photovoltaic manufacturing, and the final optimized relationship between the production capacity of each link is: cell capacity accounts for 80% of module capacity, and ingot/draw bar and slicing capacity accounts for 80% of cell capacity , Aims to improve the cost control ability with lower investment by improving the degree of integration, and maintain the flexibility of the supply chain. The company will develop differentiated module products based on distributed photovoltaic application scenarios in each market.
2. Large-scale energy storage system: Give full play to the issuer’s capabilities and advantages in project development, engineering design, system integration, project engineering, large-scale project financing and risk management, as well as energy storage performance and project reserve scale advantages, with strategic cooperation as the basis Mainly, purchase main equipment and components from partners, and obtain proprietary technology and capabilities of related equipment, components and software through independent research and development and equity participation, and then have large-scale energy storage systems from engineering design, technology research and development, system integration, and project contracting. , A full set of software and hardware capabilities required for operation and maintenance to transaction-based asset optimization, becoming a large-scale energy storage system supplier with complete technology and capabilities and a leading global market share.
3. Application solution business: This business includes (1) household photovoltaic systems containing energy storage, components and monitoring systems; (2) industrial and commercial photovoltaic systems containing energy storage, components and monitoring systems; (3) virtual power plants ( VPP) service, using control software to aggregate a large number of household and industrial and commercial energy storage systems to participate in grid auxiliary services; (4) Engineering contracting services for industrial and commercial photovoltaic systems. For the equipment required in (1) and (2), the company initially focused on ODM, supplemented by self-developed and self-developed equipment, and gradually transitioned to self-developed and self-developed equipment, supplemented by ODM, to meet the needs of the global market. A full range of products required for different application scenarios of industrial and commercial and residential photovoltaic + energy storage systems. For the software of item (3), independent development will be completed within three years. The issuer has launched turnkey project services for photovoltaic + energy storage projects in major commercial and industrial photovoltaic markets around the world, and while expanding its business scale year by year, it has expanded the scope of project contracting to distributed floating power stations.
4. EPC of power station project: Starting from 2021, domestic photovoltaic power stations will go online at par, and the problem of arrears in subsidies will be alleviated, and project investment returns can be guaranteed. In particular, as the country implements the carbon peak before 2030 and the carbon neutral plan before 2060, photovoltaic power plant projects have become a hot spot for investment and acquisition. The issuer will take advantage of market opportunities to expand project development efforts. In 2021, the grid-connected capacity is planned to be 525MW, an increase of 40% from 2020. The EPC business of domestic photovoltaic power plant projects will become a new revenue growth point for issuers.