China PV News Snippets: Topray Solar, Tongwei, DKEM

Module Exports Help Topray Solar Earn 43.05% More Revenues In H1/2020; Tongwei Cell Price Change; DKEM 1st Half Revenues Slip
10:44 PM (Beijing Time) - 28. August 2020
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Markets under the Belt and Road initiative of the Chinese government helped Topray Solar to increase its module exports during h1/2020 by over 43%. It plans to continue exploring those region's markets in the future, it stated. (Photo Credit: Shenzhen Topray Solar Co., Ltd.)

Key Takeaways

  • Topray Solar’s market exploration on the Belt and Road helped the solar module and glass maker report strong financials for H1/2020 on annual basis
  • Tongwei has only increased the polycrystalline solar cell price for September 2020 by RMB 0.02 per W, prices for mono products have remained the same
  • DKEM’s operating income in H1/2020 was a direct result of COVID-19 impact, the company stated

H1/2020 annual revenues go up for Topray Solar: Topray Solar’s H1/2020 financial results show the company increased its annual revenues by 43.05% while net profits surged 115.36% during the same period. The vertically integrated solar module maker’s revenues from module exports in Belt and Road market grew 145.71% YoY to RMB 292 million ($42.38 million) as did its gross profit margin that reached 18.98%, 6.5 percentage points higher than previous year. PV Men reported the management acknowledged PV glass sales to have accounted as the third largest source of revenues for the company. It also managed to grow its income from electricity generation by 17.42%. The company plans to continue exploring the Belt and Road markets in the near future.

Tongwei increases only polycrystalline solar cell prices: On August 25, 2020, Tongwei officially released the pricing for solar cells for the month of September 2020. Compared to August 10, 2020, the new prices for G1 and M6 monocrytsalline PERC cells remains the same at RMB 0.97 ($0.14) per W. However, for polycrystalline diamond wire 157 cells, the price has been increased by RMB 0.02 ($0.0029) per W to RMB 0.62 ($0.090) per W.

DKEM H1/2020 revenues slip 13.33% annually: Conductive silver paste maker DK Electronic Materials, Inc. (DKEM) has released its H1/2020 financials that show the company’s revenues dropped 13.33% on annual basis. Nonetheless, it managed to improve its net profit by 53.83% over the same period. Management attributed the decrease in operating income to the impact of COVID-19. The company is a supplier to Tongwei Solar, JinkoSolar, Chint New Energy among others, PV Men reported.

Meena Nair

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Meena Nair