晶科科技20240628

Summary of Conference Call on Jinko Technology Industry Overview - The conference focused on the rapid increase in new energy installations and the accompanying electricity market reforms, highlighting the transition from traditional fossil fuels to clean energy driven by dual carbon policies [2][3][4]. Key Points and Arguments New Energy Installation and Market Reform - The rapid growth of new energy installations presents both challenges and opportunities in the electricity market, necessitating adaptation from both the generation and consumption sides [2][3]. - The generation side faces issues such as benchmark electricity price reductions, implementation of time-of-use pricing, and decreased guaranteed hours, leading to increased prices and reduced revenues [4]. - The consumption side must adapt to market fluctuations and invest in new technologies like energy storage, hydrogen, and charging stations [2][4]. Investment Value of Green Energy Companies - Green energy companies are seen as having significant investment value and growth potential in the current market environment [2][3]. - Jinko Technology and its subsidiary, Jinko Energy, have made significant progress in electricity sales and comprehensive energy services, particularly in market-oriented trading and operational management [2][3][6]. Market Opportunities and Challenges - The exit of state grid purchasing and mandatory trading requirements have created new challenges and opportunities for high-voltage users, increasing the complexity and professionalism of electricity trading [5]. - The shift towards carbon emission control has made energy efficiency and reduction a necessity for enterprises, despite the transition from energy consumption control [5][14]. Jinko Group's Experience and Strategies - Jinko Group has accumulated rich experience in market-oriented operations, particularly in the Shandong spot trading market, becoming the only company fully participating in photovoltaic market trading [6][17]. - The company provides agency trading and operational management services to help small and medium investors enter the market [6][17]. Energy Efficiency and Cost Reduction - Strategies to enhance electricity efficiency and reduce costs include tax reduction and customized services such as photovoltaic, energy storage, and charging stations [7][21]. - The company has implemented energy-saving projects in various factories, significantly reducing emissions and improving economic benefits [21]. Microgrid Operations and Green Rights Services - Jinko has gained experience in coordinating heating, cooling, and electricity in microgrid systems, focusing on green energy and green certificate trading [8][23]. - The company is actively preparing for new business models in response to electricity market reforms and policy changes [8][24]. Current Status and Future Outlook of Green Electricity Trading - The discussion highlighted the characteristics of green electricity trading and its impact on subsidies, emphasizing the differences between green electricity trading and green certificate trading [11][27]. - The uncertainty surrounding subsidy distribution was noted, with expectations of potential changes in the second half of the year [28]. Other Important Insights - The successful implementation of green electricity aggregation schemes in regions like Zhejiang demonstrates the feasibility and profitability of green energy development under specific policy support [10][27]. - The challenges faced by ground power stations, including low grid acquisition hours and significant regional differences in trading prices, were discussed [9][25]. - The need for new business models to address the complexities of high photovoltaic consumption and the associated contradictions was emphasized [5][16]. This summary encapsulates the key discussions and insights from the conference call regarding Jinko Technology and the broader green energy industry, highlighting the challenges, opportunities, and strategic responses in the evolving electricity market.