Akcome Technology: Building an energy internet and entering a new stage of development

China Energy Storage Network News : On January 22, 2016, the General Office of the National Development and Reform Commission issued the "Notice on Effectively Carrying out Key Work for the Launch of the National Carbon Emission Trading Market", aiming to jointly promote the construction of the national carbon emission trading market. The pace of establishing a national unified carbon emission trading market in 2017 is getting closer and closer. The World Bank predicts that the total global carbon trading volume is expected to reach 3.5 trillion US dollars in 2020, which is expected to surpass the oil market to become the largest energy trading market.

As the trillion-dollar carbon trading market is about to begin, at the beginning of the new year, Akcome Technology (002610, Stock Bar) (002610), as a leading domestic photovoltaic power station operator, completed the first carbon trading of a domestic listed company, which attracted the attention of the market. Since the first photovoltaic power station operation and maintenance model was widely recognized by the market, Akcome Technology has once again stood at the forefront.

Akcome Technology was founded in 2006 when the domestic photovoltaic industry was in its infancy. At the time of its establishment, it mainly engaged in photovoltaic accessories and solar aluminum frame products. Five years later, in 2011, with a compound growth rate of 85% in operating income, the company grew into the first professional photovoltaic accessories listed company in China. In 2012, the photovoltaic industry experienced overcapacity and industry crisis. The company took the lead in transforming into photovoltaic power station operation and maintenance in China. After several years of intensive cultivation, the company has controlled nearly 1GW of photovoltaic power stations and has grown into a leading enterprise in the operation and maintenance of domestic private photovoltaic power stations.

The company's solar frame has been ranked first in the global market for nine consecutive years, and the bracket has been ranked first in the domestic market for three consecutive years. The company's photovoltaic manufacturing customer resources are high-quality and the market is stable; the company is a leading domestic A-share private photovoltaic power station operation and maintenance enterprise. After years of accumulation, the company has formed a strong photovoltaic power station development capability, and has established project companies in more than 100 counties and cities across the country, and has carried out business deployment. The broad regional layout provides a strong guarantee for the company's ongoing development of new energy consumption-side businesses such as new energy vehicles and charging piles.

Valuation repair, photovoltaic power generation industry welcomes good opportunities for layout

Recently, under the background of the country's vigorous development of low-carbon green economy, new energy policy dividends have appeared frequently. On December 15, 2015, the National Energy Administration issued the "13th Five-Year Plan for Solar Energy Utilization Development Draft for Comments". The draft opinion proposes that by the end of 2020, the installed capacity of solar power generation will reach 160 million kilowatts, the annual power generation will reach 170 billion kilowatts, and the annual total investment will be about 200 billion yuan. The proposal of the "13th Five-Year Plan for Photovoltaic" will undoubtedly bring huge opportunities to photovoltaic companies.

The draft opinion clearly states that the target for solar photovoltaic installations during the 13th Five-Year Plan is 150GW, including 70GW of distributed photovoltaic power stations and 80GW of centralized photovoltaic power stations. If this goal is to be achieved, China's average annual demand for photovoltaic equipment in the next five years will exceed 20GW. If the above goals are achieved, by the end of 2020, the scale of solar power generation will account for 7% of the national power structure, 15% of the new power installed capacity, and 2.5% of the national power generation structure. In the overall solar power installed capacity, photovoltaic power generation accounts for 94% and solar thermal accounts for 6%; the western region accounts for 35% of the solar power generation installed capacity, and the other 65% is distributed in the central and eastern regions.

Akcome Technology strives to become a large-scale photovoltaic power generation operator with a certain degree of fame and influence in China. It is expected to complete 1GW of photovoltaic power stations connected to the grid in the first quarter of 2016. In the future, the company will continue to promote the increase in the scale of photovoltaic power stations held by itself or through acquisitions, and continue to maintain its leading position among domestic private enterprises in terms of the number of photovoltaic power stations held.

Since 2011, the company has been involved in the professional operation and maintenance of photovoltaic power stations in China at an early stage. The company has cooperated with Huawei to build intelligent photovoltaic power stations, and established and deployed a global photovoltaic power station management and operation and maintenance center. At present, the centralized control system jointly developed by the two parties has been put into operation, and the debugging of all centralized control center servers has been completed. The centralized control data of all grid-connected power stations of the company will be gradually connected, and the centralized control data upload of newly built power stations will be completed synchronously at the time of grid connection; in addition, the company has also signed an agency operation and maintenance service contract with Ganzhou Leixin for its 20MW photovoltaic power station, taking the first step in power agency operation and maintenance.

Recently, the company's strategy of vigorously developing photovoltaic power station business will be substantially promoted. On January 5, 2016, the company announced that the private placement was approved by the China Securities Regulatory Commission. The company plans to issue no more than 271 million shares at no less than 9.32 yuan per share, raise no more than 3.83 billion yuan, and invest in the following projects: 166 million yuan for a 20MW ground photovoltaic grid-connected power generation project in Shaanxi Province; 830 million yuan for a 100MW ground photovoltaic grid-connected power generation project in Yunnan Province; 869.65 million yuan for a 110MW ground photovoltaic grid-connected power generation project in Henan Province; 166 million yuan for a 20MW ground photovoltaic grid-connected power generation project in Anhui Province; 83 million yuan for a 10MW ground photovoltaic grid-connected power generation project in Liaoning Province; 332 million yuan for a 40MW ground photovoltaic grid-connected power generation project in Shandong Province; 249 million yuan for a 100MW ground photovoltaic grid-connected power generation project in Inner Mongolia Autonomous Region; 651.55 million yuan for an 80MW ground photovoltaic grid-connected power generation project in Xinjiang Uygur Autonomous Region; and 482.8 million yuan for a working capital supplement project. Among them, the controlling shareholder, Aikang Group, subscribed for no less than 10% of the total number of shares issued in this private placement, demonstrating its strong confidence in the development of the company.

In 2015, due to the untimely payment of subsidies and the problem of power rationing in the northwest region, the overall valuation of the photovoltaic industry was low. In response to the above problems, the regulatory authorities have recently taken strong measures to rectify them. The National Energy Administration has issued the "Management Measures for the Full Guaranteed Purchase of Renewable Energy Power Generation", which clarifies the policy that if there is power rationing of new energy, the beneficiary must compensate; in 2017, many UHV lines will be put into use, providing physical guarantee for the output of new energy power, and the problem of power rationing is expected to be greatly alleviated in 2016. After nearly two years, the sixth batch of renewable energy subsidy catalogs will start to be applied recently, and the subsidy issuance is expected to be accelerated; the renewable energy surcharge will be increased from 1.5 cents/kWh to 1.9 cents/kWh, an increase of nearly 30%, and the source of subsidy funds will be more sufficient. Based on the implementation of the above policies or measures, the industry generally believes that 2016 will usher in a big year for the valuation repair of the photovoltaic industry. As a large-scale power station operator in the industry, Aikang Technology is expected to usher in a significant growth in performance in 2016.

The future is here, and the carbon trading market has great potential

In the climate environment of global warming, severe haze and fragile ecology, energy conservation and emission reduction have become major survival issues faced by mankind. In 2014, China has become the world's largest carbon emitter. Under the huge pressure of emission reduction and the firm determination to reform the supply, the Chinese government has made a solemn commitment as a responsible major country: China will reach its carbon emission peak around 2030 and strive to reach the peak as early as possible, and the proportion of non-fossil energy in primary energy consumption will increase to about 20% in 2030. Non-fossil energy, including photovoltaic power generation, has ushered in a historic development opportunity and will play a vital role in the replacement of fossil energy.

Photovoltaic power generation, as a clean energy, naturally has the function of reducing carbon dioxide emissions and has accumulated a large amount of carbon assets. Carbon asset trading has gained increasing attention as an important means of controlling carbon emissions. It is reported that since 2011, seven provinces and cities including Beijing, Shanghai and Shenzhen have started carbon emission trading pilot projects, and a national unified carbon emission trading market will be formed by 2017.