Because of super-white float glass new application areas - thin-film solar cells, Jin Jing Science and Technology (600586 market, shares love) (600,586) by the market’s hot pursuit, VGP-BPS9A , VGP-BPS9A/B , VGP-BSP13/S and have the same super-white float nanbo production capacity (000,012) , Comparatively speaking, the market has not been fully understood. We believe that the long term, nanbo float in the ultra-white areas of an edge than the Jin Jing.
Jin Jing ultra-white, slightly higher quality, market share, but at nanbo under the pressure of competition, this advantage may disappear within a short period of time. In addition, ultra-white float nanbo expansion of production capacity can be greater than the Jin Jing.
At the next TCO (TransparentConductiveOxide, transparent conductive oxide coating) glass - thin film solar cells the key to the field of Materials, Jin Jing nanbo far less likely.
Because of technical difficulty, and thin-film solar cell manufacturers can not be all short-term self-coating, TCO glass demand is still vast, crystalline silicon cells enterprise competition for silicon material, the future is likely to reproduce the conductive film glass. Because of technical barriers and high TCO glass is expected in the next 2-3 years, the state of supply tight, prices high, strong profitability, suggesting more than 40% gross margin.
TCO glass nanbo likely to enter the field, laptop battery with the best coating technology foundation, the larger the probability of success, and Jin Jing currently do not have any production capacity of coated glass, in this area can not nanbo competition.
Jin Jing nanbo will more fully benefit from the development of thin film solar cells. At present, the corresponding shares in 2009 for the 19 times PE, and Jin Jing technology valuation in 2009 to 32 times PE, the former is relatively obvious underestimate. . nanbo view of product lines better and stronger ability to resist risks and the future in the field of thin film solar cells to benefit more fully, we believe that its valuation should not be less than at least Jin Jing, to maintain “overweight” rating.
Jin Jing ultra-white, slightly higher quality, market share, but at nanbo under the pressure of competition, this advantage may disappear within a short period of time. In addition, ultra-white float nanbo expansion of production capacity can be greater than the Jin Jing.
At the next TCO (TransparentConductiveOxide, transparent conductive oxide coating) glass - thin film solar cells the key to the field of Materials, Jin Jing nanbo far less likely.
Because of technical difficulty, and thin-film solar cell manufacturers can not be all short-term self-coating, TCO glass demand is still vast, crystalline silicon cells enterprise competition for silicon material, the future is likely to reproduce the conductive film glass. Because of technical barriers and high TCO glass is expected in the next 2-3 years, the state of supply tight, prices high, strong profitability, suggesting more than 40% gross margin.
TCO glass nanbo likely to enter the field, laptop battery with the best coating technology foundation, the larger the probability of success, and Jin Jing currently do not have any production capacity of coated glass, in this area can not nanbo competition.
Jin Jing nanbo will more fully benefit from the development of thin film solar cells. At present, the corresponding shares in 2009 for the 19 times PE, and Jin Jing technology valuation in 2009 to 32 times PE, the former is relatively obvious underestimate. . nanbo view of product lines better and stronger ability to resist risks and the future in the field of thin film solar cells to benefit more fully, we believe that its valuation should not be less than at least Jin Jing, to maintain “overweight” rating.
