DBS: China Renewable Energy – Longi, Flat Glass
China Renewable Sector: Polysilicon supply ramp up solves key constraint on solar installations
- New polysilicon supply ramping up in 2H22-2023, removing key overhang on solar value chain
- Solid demand for solar components despite high prices with China’s 2M22 new installations up 234%
- Omicron disruption to production minimal; Government issued directive to unclog transport network
- Normalized solar value chain pricing to benefit solar installations and sales volume of solar components. Top picks: LONGi and Flat Glass
