DeYe Shares Plunge Amid Rumors of Pakistan Power Price Drop

On September 23rd, Deye Shares experienced a high volume of trading and hit its daily limit down. By the close of the market, Deye Shares were reported at 82.99 yuan per share, with a transaction volume of 1.129 billion yuan, a total market value of 53.5 billion yuan, and a net outflow of main funds of 185 million yuan.

Regarding today's stock price, relevant individuals stated that the company's operations are currently normal.

According to Deye Shares' semi-annual report for 2024, in the first half of this year, the company's inverter products were mainly sold to countries such as Pakistan, Germany, and Brazil. There are reports that Pakistan's electricity prices are expected to drop significantly. In response to this, the aforementioned individuals said that the company has not received this news, and everyone might have seen such a change, attributing the sharp decline in stock prices to this reason. The individual also indicated that today, the photovoltaic (PV) sector as a whole is experiencing a decline, not just the company's stock price.

Looking at the industry as a whole, in 2024, China's inverter exports to Pakistan have shown a rapid growth trend. Data from the General Administration of Customs of China shows that from January to July 2024, the export value of inverters to Pakistan was 2.075 billion yuan, a year-on-year increase of 311.08%, with the export value in July being 361 million yuan, a year-on-year increase of 393.91%.

In the first half of 2024, under the continuous pressure on profitability in the main manufacturing segments of the photovoltaic industry, photovoltaic inverter companies withstood the impact. Investment Express reporters noticed that the silicon material and wafer, photovoltaic cell and module segments at the core of the photovoltaic industry chain suffered large-scale losses, while most enterprises in the inverter, photovoltaic auxiliary materials, and photovoltaic processing equipment sectors related to the industry chain made profits against the market trend, and some companies even achieved good growth in net profits attributable to the parent company.

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Deye Shares' semi-annual performance report for 2024 shows that the company achieved a revenue of 4.748 billion yuan in the first half of the year, a year-on-year decrease of 2.97%; net profit was 1.236 billion yuan, a year-on-year decrease of 2.21%. As of the end of the reporting period, the company's total assets were 13.549 billion yuan, and the net assets attributable to the shareholders of the listed company were 7.753 billion yuan.

The overseas energy storage market has become a "hot cake" in the eyes of major photovoltaic and energy storage companies. Dongwu Securities analysis believes that emerging markets such as Asia, Africa, Latin America, South Asia, and Ukraine have driven high demand growth for photovoltaic and energy storage parity, promoting distributed photovoltaic and energy storage inverter companies to achieve a high increase in performance in the second quarter, and the third quarter continues to improve; the inventory of household energy storage in Europe and America continues to decrease, and the interest rate cut has begun, which is expected to gradually restore demand; the demand for large-scale energy storage in the United States remains strong, and the demand for large-scale energy storage in Europe, the Middle East, Latin America, and other regions has exploded, with large-scale energy storage leaders having sufficient orders.

In addition, according to incomplete statistics from the CNESA Global Energy Storage Database, in the first half of 2024, Chinese energy storage companies signed orders with a scale exceeding 80GWh, of which overseas orders exceeded 50GWh.