Xinjiang Yinshuo Heshuo facility begins construction; Chint Electrics subsidiary going public; RoboTechnik partners with Drinda; Power Construction to list renewable business; China Coal Energy module tender results out; Beifang Stone to build facility in Yunnan; Suzhou Good-Ark details out research activities; Shenzhen Stock Exchange accepts Gaojing Solar IPO application.
Xinjiang Yinshuo Heshuo facility begins construction: Over a WeChat communication, non-metallic mineral products manufacturer Xinjiang Yinshuo Quartz Technology said that construction has begun for its facility in Heshuo County. With an investment of RMB 300 million ($42.1 million) and spread across 96.45 mu, the facility will produce 600,000 tons of photovoltaic quartz sand annually. Most likely, the facility will be put into operation by June 2024.
Chint Electrics subsidiary to be listed on Shanghai Stock Exchange: Low-voltage electrical products manufacturer Chint Electrics plans to list its subsidiary Chint Anneng on Shanghai Stock Exchange, local media reports said. Being the residential solar business arm of Chint Electrics, Chint Anneng had a revenue of RMB 13.7 billion ($1.9 billon) in 2022 and a net profit of over RMB 1.7 billion ($0.24 billion), and the company had installed over 7 GW of solar power in 2022. Despite Chint Anneng being listed on the stock exchange, Chint Electrics will continue to have control over the company.
RoboTechnik partners with Drinda for process automation equipment: High-end automation equipment manufacturer RoboTechnik announced that its wholly-owned subsidiary has signed a sales deal for process automation equipment with Jietai Technology, a subsidiary of Drinda, who is an automotive instrument panel assemblies producer. The contract amount is about RMB 105 million ($14.7 million) (tax included). Earlier in April this year, RoboTechnik had announced plans to invest RMB 1 billion in HJT cells (see China Solar PV News Snippets)
Power Construction to list renewable business on stock market: As per local media reports, Power Construction Corporation of China (PowerChina) is planning to list its renewable business on domestic stock market. However, even when it is listed, PowerChina will still be in control over the subsidiary. Sources believe that this move will enable PowerChina to optimize its capital structure and establish financial stability.
China Coal Energy module tender results out: China Coal Energy has released the names of the winners for its 6.5 GW solar module tender. Here are the details:
Beifang Stone to build crystalline silicon rods and wafers facility in Yunnan: Photovoltaic equipment manufacturing Beifang Stone Technology will be building a 20 GW crystalline silicon rods and wafers facility in Yunnan. An agreement between the company and Luliang County was recently signed. Spread across 800 mu, the total investment of the facility will be about RMB 6.72 billion ($0.94 billion). The facility will be built in phases, where in the first phase, 5 GW facility will be built with an investment of RMB 1.7 billion ($0.24 billion). In the second phase, a 15 GW facility will be built with an investment of RMB 4.9 billion ($0.69 billion). On competition, the annual output value of the facility will be about RMB 16 billion ($2.2 billion).
Suzhou Good-Ark details out research activities: Disclosing its research activities, discrete semiconductor manufacturer Suzhou Good-Ark said that in 2023, silver-clad copper products will gradually increase in volume, especially in the second quarter, where the shipments are expected to even exceed 1 ton. While the shipments of silver-clad copper are growing in the domestic market as well as overseas, an overseas downstream customers have also begun to use silver-clad copper paste products, the company said. It also added that its subsidiary iSilver Materials has now a total production capacity of 1,000 tons of silver paste, and also in the pipeline are plans to set up factories overseas to meet the needs of customers there.
Shenzhen Stock Exchange accepts Gaojing Solar IPO application: The IPO of PV equipment and modules seller, Gaojing Solar, has been accepted by Shenzhen Stock Exchange, local media reported. The company will be issuing 124 million shares and will be raising about RMB 5 billion ($0.70 billion). The raised funds will be used towards its 25 GW silicon ingot facility in Yibin, 5 GW solar wafer facility, and towards working capital the reports added.