IRICO registers a total profit of RMB185.56 million; Akcome to increase subsidiary capital by RMB 500 million; TDG raises funds for PV equipment projects and to repay bank loan; Canadian Solar launches N-Type technology alliance of 41 companies.
IRICO announces its 2021 annual results: Announcing its 2021 annual results, Solar PV glass producer IRICO Group New Energy said that the Group recorded an operating revenue of RMB 2,067.06 million ($325.8 million), representing a year-on-year decrease of 17.93%. Out of this, the revenue from solar photovoltaic glass business amounted to RMB 2,048.48 million ($322.9 million), representing a year-on-year increase of 27.22%. The Group achieved a total profit of RMB185.56 million ($29.24 million), representing a year-on-year increase of 8.31%. This was achieved through quality improvement and efficiency enhancement, cost reduction, and cost control for all elements, the company said.
Akcome to increase subsidiary capital: Solar cell and module producer Akcome Technology announced that in order to meet the production and operation development needs of its wholly-owned subsidiary, Suzhou Akcome Optoelectronics, the company plans to increase the subsidiary's capital by RMB 500 million ($78.82 million) with its own funds. This will ensure the daily capital flow of the subsidiary. Last December, Akcome had said that it would sell part of 400 MW power station to Fujian SPIC (see China PV News Snippets)
TDG raises RMB 2.5 billion for PV equipment projects: Electronic materials and components company, in an announcement, said that the company will raise RMB 2.5 billion ($0.39 billion) for its large-size RF piezoelectric wafer project, and its high-efficiency crystal growth and precision machining intelligent equipment project, and also to supplement the working capital and repay the bank loan.
Canadian Solar launches N-Type technology alliance: Canada headquartered Chinese solar power company Canadian Solar announced at the N-type Photovoltaic Technology Innovation Forum that it has initiated the establishment of a photovoltaic high-efficiency N-type industry technology innovation alliance. There are about 41 companies in the alliance, covering the entire photovoltaic industry chain. This alliance will facilitate a public technology exchange platform and may help speed up the replacement of PERC cells by N-type battery modules.