Analysis and Investment Consulting Report on China Polysilicon Industry, 2010-2015

　　High-purity polysilicon is the basic raw material of electronic industry and solar photovoltaic industry, and in the next 50 years, there won’t be any other material which could replace silicon to become the main raw material of electronic and solar photovoltaic industries.
　　With the rapid development of information technology and solar industry, the demand of the whole world for polysilicon grows rapidly, the supply in the market can’t meet the needs. In 2006 the production of polysilicon was 37 thousand tons and the market gap was about 8 thousand tons in the world. In recent years, the rapid growth of global solar cell production directly drove the rapid demand growth of polysilicon. Influenced by this, the price of polysilicon which is as the main raw material of solar cell increased quickly.
　　China polysilicon industry started in the 1950s, the industrialization was completed in the middle of 1960s, and to 1970s, the manufacturers once developed to more than 20. But due to the lagging process and technology, big consumption, high cost, etc., the vast majority of the enterprises were in deficit and stopped production or changed production one after another.
　　In 2006, the output of monocrystalline silicon used for domestic integrated circuit was 551 tons, the demand for polysilicon was about 847 tons; solar cell output was 370 MW, demand for polysilicon was about 4100 tons. The total demand for polysilicon in 2006 was close to 5 thousand tons, while the output of China polysilicon was only 287 tons, the ratio between supply and need was less than 6%.
　　There is a big gap in the independent supply of China polysilicon, over 95% polysilicon materials need to be imported, the supply has been controlled by others for a long time while the burst increase of price, which have already endangered the development of many polysilicon’s downstream enterprises and become the bottleneck problem of the development of China information industry and photovoltaic industry.
　　Because of the continuous increase of the polysilicon demand, under the stimulation of enlarging market gap and rising price, a wave of cooperating with polysilicon projects appears in our country. The investment wave of polysilicon projects could be the inevitable result of rapid development of solar cell market, but the development of China silicon material industry should be cautious and headlong rush status should be avoided; the key is to master the core technology, otherwise, it is difficult to escape from the status controlled by others.
　　Because the demand grew rapidly, but the supply development was limited, 2007 was the year in which solar polysilicon was most wanting and price rose crazily. The “11th Five Years” will be the golden period for the rapid development of China polysilicon industry.

Contents of Chinese vision>>

Chapter I Analysis of international polysilicon development
　　1.1 Overview of international polysilicon industry
　　　　1.1.1 Survey of international polysilicon industry
　　　　1.1.2 Global polysilicon giants competing to expand production
　　　　1.1.3 Global low-temperature polysilicon market presenting increaseing momentum
　　　　1.2 Main producing countries
　　1.2.1 U.S.
　　　　1.2.2 Japan
　　　　1.2.3 Germany
　　　　1.2.4 South Korea
　　1.3 Supply and demand analysis of international polysilicon
　　　　1.3.1 Global solar grade polysilicon demand increasing by 1.3 times 2002-2005
　　　　1.3.2 Supply and demand situation of international polysilicon
　　　　1.3.3 Production capacity of polysilicon market is insufficient and demand continues to grow
Chapter II Analysis of China polysilicon industry
　　2.1 Development of China polysilicon industry
　　　　2.1.1 Survey of China polysilicon industry
　　　　2.1.2 Status quo of polysilicon market development
　　　　2.1.3 Polysilicon spot market price breaking 500 dollars 2008
　　　　2.1.4 Impact of price changes on polysilicon industry development
　　2.2 Analysis of polysilicon production process technology
　　　　2.2.1 Main production process technology of polysilicon
　　　　2.2.2 Survey of foreign polysilicon production process technology
　　　　2.2.3 Survey of domestic polysilicon production process technology
　　　　2.2.4 Production technology progress of China polysilicon
　　2.3 Supply and demand status analysis of China polysilicon
　　　　2.3.1 Supply and demand status of China polysilicon market
　　　　2.3.2 Development of solar cell pulling rapid growth of the demand for polysilicon
　　　　2.3.3 Development strategies of China silicon enterprises coping with the supply shortage in polysilicon market
　　　　2.3.4 Short supply situation of China polysilicon will still continue in 2008
　　2.4 Development status of polysilicon industry in some regions
　　　　2.4.1 Status quo of Inner Mongolia polysilicon industry development
　　　　2.4.2 Export of polysilicon in Jiangxi Province increasing greatly in 2008
　　　　2.4.3 Investment in Henan polysilicon projects is hot
　　　　2.4.4 Yichang plans to build national polysilicon and photovoltaic industry base
　　2.5 Analysis of polysilicon market competition
　　　　2.5.1 Amorphous silicon hitting out polysilicon
　　　　2.5.2 China polysilicon industry facing the shock of polysilicon alternatives
　　　　2.5.3 Future competition trend analysis of polysilicon industry
　　2.6 Problems existing in polysilicon industry and development strategies
　　　　2.6.1 Bottlenecks of China polysilicon shortage
　　　　2.6.2 Risk and secret worry existing in the development of China polysilicon industry
　　　　2.6.3 Strategy research on the development of China high purity polysilicon industry
　　　　2.6.4 Suggestions promoting the healthy and orderly development of China polysilicon industry
Chapter III Downstream industries of polysilicon industry chain
　　3.1 Solar cell industry
　　　　3.1.1 Survey of world solar cell development
　　　　3.1.2 Survey of China solar cell development
　　　　3.1.3 Yield of China solar cell ranking first in the world
　　　　3.1.4 Problems in China solar cell industry development and countermeasures
　　3.2 Semiconductor industry
　　　　3.2.1 Analysis of foreign semiconductor industry development
　　　　3.2.2 Analysis of China semiconductor industry development
　　　　3.2.3 Status quo of China semiconductor market
　　　　3.2.4 Difficult problems semiconductor industry facing and development countermeasures
Chapter IV Key international polysilicon enterprises
　　4.1 Hemlock Semiconductor Corporation
　　　　4.1.1 Company introduction
　　　　4.1.2 Production expansion status and planning
　　　　4.1.3 Future development thought
　　4.2 Wacker Chemie AG
　　　　4.2.1 Company introduction
　　　　4.2.2 Development course
　　　　4.2.3 Operating status 2007
　　4.3 Tokuyama Corporation
　　　　4.3.1 Company introduction
　　　　4.3.2 Operating status 2007 and forecast 2008
　　4.4 MEMC Electronic Materials
　　　　4.4.1 Company introduction
　　　　4.4.2 Operating status 2007
　　　　4.4.3 Operating status the first half year of 2008
　　4.5 REC
　　　　4.5.1 Company introduction
　　　　4.5.2 Operating status 2007
　　　　4.5.3 Operating status and future production expansion plan in the first quarter of 2008
　　4.6 Mitsubishi Materials & Mitsubishi Polycrystalline Materials
　　　　4.6.1 Company introduction
　　　　4.6.2 Operating status fiscal 2004-fiscal 2008
　　4.7 Sumitomo Titanium Corporation
　　　　4.7.1 Company introduction
　　　　4.7.2 Operating status fiscal 2007-fiscal 2008
Chapter V Key domestic polysilicon enterprises
　　5.1 Sichuan Xinguang Silicon Technology Co., Ltd.
　　　　5.1.1 Company introduction
　　　　5.1.2 Xinguang Silicon polysilicon project progress
　　　　5.1.3 Analysis of Xinguang Silicon development
　　5.2 Luoyang China Silicon Corporation
　　　　5.2.1 Company introduction
　　　　5.2.2 Operating status Jan.-Dec. 2006
　　　　5.2.3 Final completion acceptance of polysilicon project with 300 tons annual yield
　　5.3 Emei Semiconductor Materials Factory
　　　　5.3.1 Company introduction
　　　　5.3.2 Operating status 2005-2006
　　　　5.3.3 Development analysis of Emei Semiconductor Materials Factory
　　5.4 Toppoly Optoelectronics (Nanjing) Corporation
　　　　5.4.1 Company introduction
　　　　5.4.2 Operating status 2005-2006
　　5.5 Ningbo Jingyuan Solar Energy Co., Ltd.
　　　　5.5.1 Company introduction
　　　　5.5.2 Operating status 2005-2006
　　5.6 Liancheng Sangxing Silicon Technology Co., Ltd.
　　　　5.6.1 Company introduction
　　　　5.6.2 Operating status Jan.-Dec. 2006
　　5.7 Zhejiang Yuhui Solar Energy Source Co., Ltd.
　　　　5.7.1 Company introduction
　　　　5.7.2 Operating status 2005-2006
　　5.8 Jiangxi LDK Solar high-tech Co., Ltd.
　　　　5.8.1 Company introduction
　　　　5.8.2 Operating status Jan.-Dec. 2006
　　　　5.8.3 Jiangxi LDK Solar will become the world's largest supplier of polysilicon wafer
　　5.9 Luoyang Monocrystalline silicon Co., Ltd.
　　　　5.9.1 Company introduction
　　　　5.9.2 Operating status Jan.-Dec. 2006
Chapter VI Analysis of the polysilicon investment and prospect
　　6.1 Analysis of polysilicon investment
　　　　6.1.1 Status of China polysilicon investment 2007
　　　　6.1.2 Technical barriers of polysilicon creating high-profit
　　　　6.1.3 Market risks China polysilicon industry investment facing
　　6.2 Prospect of polysilicon industry development
　　　　6.2.1 Booming market demand of global photovoltaic industry providing opportunities for polysilicon development
　　　　6.2.2 Forecast of polysilicon market price 2008-2010
　　　　6.2.3 Prospect of polysilicon development will be stable in the next 10 years

Chart Polysilicon industry chain structure diagram
Chart Solar cells yield in different countries of the world and composition proportions
Chart Yanshi quartz stone assay standard
Chart China silicon material market demand quantity 2002-2006
Chart High purity polysilicon production technology comparison
Chart New technology of making solar cell grade polysilicon
Chart New technology development trend of foreign polysilicon companies
Chart Contrast between siemens method and physical method
Chart Global solar cell production yield distribution
Chart China integrated circuit market application structure
Chart Hemlock company shareholder structure
Chart Some patents of Hemlock company
Chart Hemlock company silicon material expansion plan
Chart Wacker company production base distribution status in different regions
Chart Wacker company basic financial indexes overview 2006-2007
Chart Data of Wacker company basic financial indexes 2004-2007 (basing on International Financial Reporting Standards (IFRS))
Chart Data of Wacker company sales amount by different business departments 2004-2007
Chart Data of Wacker company external sales amount by different business departments 2004-2007
Chart Data of Wacker company external sales amount at home and abroad 2004-2007
Chart Data of Wacker company external sales amount by consumer location 2004-2007
Chart Data of Wacker company external sales amount by company location 2004-2007
Chart Data of Wacker company comprehensive indexes by different departments and different regions 2007
Chart Data of Wacker company comprehensive indexes by departments 2007
Chart Tokuyama company key financial indexes fiscal 2006-fiscal 2007
Chart Tokuyama company revenue status of different business departments fiscal 2006-fiscal 2007
Chart Tokuyama company operating revenue fiscal 2003-fiscal 2007
Chart Tokuyama company operating profit fiscal 2003-fiscal 2007
Chart Tokuyama company total profit fiscal 2003-fiscal 2007
Chart Tokuyama company net profit fiscal 2003-fiscal 2007
Chart Tokuyama company total assets fiscal 2003-fiscal 2007
Chart Tokuyama company owners’ equity fiscal 2003-fiscal 2007
Chart Tokuyama company rate of return on equity fiscal 2003-fiscal 2007
Chart Tokuyama company rate of return on assets fiscal 2003-fiscal 2007
Chart Tokuyama company operating revenue composition statement by different products fiscal 2007
Chart Tokuyama company operating profit composition statement by different products fiscal 2007
Chart Tokuyama company revenue statement by different business departments fiscal 2008 (estimation)
Chart Data of MEMC company main financial indexes 2003-2007
Chart MEMC company operating revenue and proportions by different regions 2005-2007
Chart MEMC company operating revenue and growth rate status 2003-2007
Chart MEMC company gross profit and growth rate status 2003-2007
Chart MEMC company basic financial indexes status the first half year of 2008
Chart REC company basic frame structure diagram
Chart REC company basic financial indexes status 2007
Chart REC company basic financial indexes status of different departments 2007
Chart REC company basic financial indexes status in the first quarter of 2008
Chart REC company net financial projects status in the first quarter of 2008
Chart REC company basic financial indexes status of Silicon business department in the first quarter of 2008
Chart REC company basic financial indexes status of Wafer business department in the first quarter of 2008
Chart REC company basic financial indexes status of Solar business department in the first quarter of 2008
Chart REC company production expansion plan
Chart Mitsubishi Materials company sales profit status of different products fiscal 2007-fiscal 2008
Chart Mitsubishi Materials company main financial indexes fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company sales revenue fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company operating profit fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company total profit fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company net profit fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company earnings per share fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company rate of return on equity fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company rate of return onassets fiscal 2004-fiscal 2008
Chart Mitsubishi Materials company rate of return on sales fiscal 2004-fiscal 2008
Chart Sumitomo Titanium company consolidated operating results fiscal 2002-fiscal 2007
Chart Sumitomo Titanium company sales amount changes fiscal 1997-fiscal 2007
Chart Sumitomo Titanium company total profit and net profit changes for the term fiscal 1997-fiscal 2007
Chart Sumitomo Titanium company sales amount of Titanium business department fiscal 2006-fiscal 2007
Chart Sumitomo Titanium company sales amount of other business departments fiscal 2006-fiscal 2007
Chart Sumitomo Titanium company sales amount and operating profit outlook fiscal 2008
Chart Sumitomo Titanium company sales amount and operating profit outlook of different departments fiscal 2008
Chart Luoyang Zhonggui High-tech Co., Ltd. overall scale data Jan.-Dec. 2006
Chart Luoyang Zhonggui High-tech Co., Ltd. main production and sales data Jan.-Dec. 2006
Chart Luoyang Zhonggui High-tech Co., Ltd. main financial data Jan.-Dec. 2006
Chart Data of Luoyang Zhonggui High-tech Co., Ltd. solvency indexes Jan.-Dec. 2006
Chart Data of Luoyang Zhonggui High-tech Co., Ltd. operation ability indexes Jan.-Dec. 2006
Chart Data of Luoyang Zhonggui High-tech Co., Ltd. profitability indexes Jan.-Dec. 2006
Chart Emei Semiconductor Materials Factory overall scale data Jan.-Dec. 2005
Chart Emei Semiconductor Materials Factory main production and sales data Jan.-Dec. 2005
Chart Emei Semiconductor Materials Factory main financial data Jan.-Dec. 2005
Chart Data of Emei Semiconductor Materials Factory solvency indexes Jan.-Dec. 2005
Chart Data of Emei Semiconductor Materials Factory operation ability indexes Jan.-Dec. 2005
Chart Data of Emei Semiconductor Materials Factory profitability indexes Jan.-Dec. 2005
Chart Emei Semiconductor Materials Factory overall scale data Jan.-Dec. 2006
Chart Emei Semiconductor Materials Factory main production and sales data Jan.-Dec. 2006
Chart Emei Semiconductor Materials Factory main financial data Jan.-Dec. 2006
Chart Data of Emei Semiconductor Materials Factory solvency indexes Jan.-Dec. 2006
Chart Data of Emei Semiconductor Materials Factory operation ability indexes Jan.-Dec. 2006
Chart Data of Emei Semiconductor Materials Factory profitability indexes Jan.-Dec. 2006
Chart Toppoly Optoelectronics (Nanjing) Corporation overall scale data Jan.-Dec. 2005
Chart Toppoly Optoelectronics (Nanjing) Corporation main production and sales data Jan.-Dec. 2005
Chart Toppoly Optoelectronics (Nanjing) Corporation main financial data Jan.-Dec. 2005
Chart Data of Toppoly Optoelectronics (Nanjing) Corporation solvency indexes Jan.-Dec. 2005
Chart Data of Toppoly Optoelectronics (Nanjing) Corporation operation ability indexes Jan.-Dec. 2005
Chart Data of Toppoly Optoelectronics (Nanjing) Corporation profitability indexes Jan.-Dec. 2005
Chart Toppoly Optoelectronics (Nanjing) Corporation overall scale data Jan.-Dec. 2006
Chart Toppoly Optoelectronics (Nanjing) Corporation main production and sales data Jan.-Dec. 2006
Chart Toppoly Optoelectronics (Nanjing) Corporation main financial data Jan.-Dec. 2006
Chart Data of Toppoly Optoelectronics (Nanjing) Corporation solvency indexes Jan.-Dec. 2006
Chart Data of Toppoly Optoelectronics (Nanjing) Corporation operation ability indexes Jan.-Dec. 2006
Chart Data of Toppoly Optoelectronics (Nanjing) Corporation profitability indexes Jan.-Dec. 2006
Chart Ningbo Jingyuan Solar Energy Co., Ltd. overall scale data Jan.-Dec. 2005
Chart Ningbo Jingyuan Solar Energy Co., Ltd. main production and sales data Jan.-Dec. 2005
Chart Ningbo Jingyuan Solar Energy Co., Ltd. main financial data Jan.-Dec. 2005
Chart Data of Ningbo Jingyuan Solar Energy Co., Ltd. solvency indexes Jan.-Dec. 2005
Chart Data of Ningbo Jingyuan Solar Energy Co., Ltd. operation ability indexes Jan.-Dec. 2005
Chart Data of Ningbo Jingyuan Solar Energy Co., Ltd. profitability indexes Jan.-Dec. 2005
Chart Ningbo Jingyuan Solar Energy Co., Ltd. overall scale data Jan.-Dec. 2006
Chart Ningbo Jingyuan Solar Energy Co., Ltd. main production and sales data Jan.-Dec. 2006
Chart Ningbo Jingyuan Solar Energy Co., Ltd. main financial data Jan.-Dec. 2006
Chart Data of Ningbo Jingyuan Solar Energy Co., Ltd. solvency indexes Jan.-Dec. 2006
Chart Data of Ningbo Jingyuan Solar Energy Co., Ltd. operation ability indexes Jan.-Dec. 2006
Chart Data of Ningbo Jingyuan Solar Energy Co., Ltd. profitability indexes Jan.-Dec. 2006
Chart Liancheng Sangxing Silicon Technology Co., Ltd. overall scale data Jan.-Dec. 2006
Chart Liancheng Sangxing Silicon Technology Co., Ltd. main production and sales data Jan.-Dec. 2006
Chart Liancheng Sangxing Silicon Technology Co., Ltd. main financial data Jan.-Dec. 2006
Chart Data of Liancheng Sangxing Silicon Technology Co., Ltd. solvency indexes Jan.-Dec. 2006
Chart Data of Liancheng Sangxing Silicon Technology Co., Ltd. operation ability indexes Jan.-Dec. 2006
Chart Data of Liancheng Sangxing Silicon Technology Co., Ltd. profitability indexes Jan.-Dec. 2006
Chart Zhejiang Yuhui Solar Energy Source Co., Ltd. overall scale data Jan.-Dec. 2005
Chart Zhejiang Yuhui Solar Energy Source Co., Ltd. main production and sales data Jan.-Dec. 2005
Chart Zhejiang Yuhui Solar Energy Source Co., Ltd. main financial data Jan.-Dec. 2005
Chart Data of Zhejiang Yuhui Solar Energy Source Co., Ltd. solvency indexes Jan.-Dec. 2005
Chart Data of Zhejiang Yuhui Solar Energy Source Co., Ltd. operatiion ability indexes Jan.-Dec. 2005
Chart Data of Zhejiang Yuhui Solar Energy Source Co., Ltd. profitability indexes Jan.-Dec. 2005
Chart Zhejiang Yuhui Solar Energy Source Co., Ltd. overall scale data Jan.-Dec. 2006
Chart Zhejiang Yuhui Solar Energy Source Co., Ltd. main production and sales data Jan.-Dec. 2006
Chart Zhejiang Yuhui Solar Energy Source Co., Ltd. main financial data Jan.-Dec. 2006
Chart Data of Zhejiang Yuhui Solar Energy Source Co., Ltd. solvency indexes Jan.-Dec. 2006
Chart Data of Zhejiang Yuhui Solar Energy Source Co., Ltd. operation ability indexes Jan.-Dec. 2006
Chart Data of Zhejiang Yuhui Solar Energy Source Co., Ltd. profitability indexes Jan.-Dec. 2006
Chart Jiangxi LDK Solar high-tech Co., Ltd. overall scale data Jan.-Dec. 2006
Chart Jiangxi LDK Solar high-tech Co., Ltd. main production and sales data Jan.-Dec. 2006
Chart Jiangxi LDK Solar high-tech Co., Ltd. main financial data Jan.-Dec. 2006
Chart Data of Jiangxi LDK Solar high-tech Co., Ltd. solvency indexes Jan.-Dec. 2006
Chart Data of Jiangxi LDK Solar high-tech Co., Ltd. operation ability indexes Jan.-Dec. 2006
Chart Data of Jiangxi LDK Solar high-tech Co., Ltd. profitability indexes Jan.-Dec. 2006
Chart Luoyang Monocrystalline silicon Co., Ltd. overall scale data Jan.-Dec. 2006
Chart Luoyang Monocrystalline silicon Co., Ltd. main production and sales data Jan.-Dec. 2006
Chart Luoyang Monocrystalline silicon Co., Ltd. main financial data Jan.-Dec. 2006
Chart Data of Luoyang Monocrystalline silicon Co., Ltd. solvency indexes Jan.-Dec. 2006
Chart Data of Luoyang Monocrystalline silicon Co., Ltd. operation ability indexes Jan.-Dec. 2006
Chart Data of Luoyang Monocrystalline silicon Co., Ltd. profitability indexes Jan.-Dec. 2006