Risen Energy to invest in production facilities for 15 GW HJT cells and modules and glass maker Jinjing Technology expects a large net profit increase in 2021.
Risen to invest in 15 GW HJT production facility: Chinese solar panel maker Risen Energy announced that the company and Ningbo South Coastal Economic Development have signed an agreement for a 15 GW N-type 'Ultra-Low-Carbon High-efficiency' heterojunction cells factory and a 15 GW 'high-efficiency' solar module production facility. The total investment is RMB 15.2 billion ($2.39 billion), of which RMB 14.5 billion ($2.28 billion) will be invested in fixed assets and basic working capital. The project will be constructed in two phases and will be completed in 30 months. Recently, Risen had announced 23.65% efficiency for its high efficiency HJT solar module (see 23.65% Efficiency For Heterojunction Module). Its HJT business unit's General Manager Po-Chuan-Yang presented about HJT – Towards Industrialization at the the TaiyangNews High Efficiency Solar Conference.
Jinjing Technology expects RMB 1.3 to 1.4 bn net profit in 2021: Releasing its 2021 annual performance report, Jinjing Technology said that it expects the net profit attributable to shareholders of listed companies in 2021 to range between RMB 1.3 billion ($0.20 billion) to RMB 1.4 billion ($0.22 billion). Compared with the same period last year, it expects a rise of RMB 969 million ($152.33 million) to RMB 1.06 billion ($0.17 billion). This means a year-on-year increase of 293% to 323%. Jinjing Technology in Malaysia is the first oversea glass manufacturing plant set up by Chinese glass developer and producer Jinjing Group outside of China. Last year, Jinjing Group announced that its 80%-owned holding subsidiary, Ningxia Jinjing Technology, had begun a 600 t/d three-line solar light-weight glass project at its factory (see China PV News Snippets: Skyworth, Wujiang, Jinjing, Jinko)