Aiko Solar, TCL Zhonghuan & JinkoSolar expect to report profitable financials for H1/2023; Changxin constructing 23 GW cell & 20 GW wafer capacity; DaZheng's 100 MW perovskite project; Letong announces 9.6 GW HJT cell & module plans; Scenergy's cell and wafer expansion plans.
Aiko Solar's expects strong results: Aiko Solar has issued a forecast for its H1/2023 financials, expecting to report 111% to 135% increase in annual profit of RMB 1.26 billion to RMB 1.4 billion, even as operating expenses went with capacity ramp up. Decline in production costs led to improvement in production and sales for the period. It counts to have shipped between 18.5 GW to 19.0 GW solar cell and module capacity during the period. Management assures there are sufficient orders for its ABC products.
Profit alert from TCL: Leading Chinese solar wafer manufacturer TCL Zhonghuan has issued a profit alert for its financial results of H1/2023. It expects to report a YoY increase of 53.7% to 60.42% in its net profit that's guided to range between RMB 4.48 billion to RMB 4.68 billion, as against RMB 2.9 billion in H1/2022. Its management says the company continues to work on transforming to industrial 4.0 manufacturing methods while improving flexible manufacturing capabilities.
JinkoSolar's H1/2023 financials: JinkoSolar Holding's principal operating subsidiary Jinko Solar Co Ltd or Jiangxi Jinko expects to report unaudited net income of between RMB 3.66 billion to RMB 4.06 billion for H1/2023. It would be an increase of RMB 2.75 billion to RMB 3.15 billion and 304.38% to 348.58% on annual basis. It also forecasts net profit of RMB 905 million. Management cites strong global demand for solar, increase in module shipments, exchange rate markets and international trade policies among reasons for the expected positive results.
Changxin constructing new production base: Changxin Photovoltaic has started construction of a 23 GW solar cell and 20 GW silicon wafer production base in Feixi County. To be built for RMB 16 billion, it will invest RMB 12 billion for the cell project to be developed in 2 phases. Silicon wafer project too will be spread out in 2 phases of 10 GW each. Once online, the 23 GW cell fab will produce products with an overall value of RMB 6 billion, and the 20 GW wafer facility will roll out RMB 3 billion worth of output, according to local media reports.
100 MW perovskite project: Perovskite technology company DaZheng (Jiangsu) Micro Nano Technology has signed an agreement with the People's Government of Haicang District of Xiamen City to build a 100 MW flexible, light-weight perovskite module production project. The facility in Fujian Pilot Free Trade Zone is planned to cost RMB 300 million. Earlier this month, Chinese perovskite company Microquanta announced grid connecting the world's '1st' perovskite-fishery solar PV power station in China, and the company's 5th perovskite distributed power plant to have been successfully grid connected (see China Solar PV News Snippets).
9.6 GW HJT production project: Letong has entered an Industrial Investment Cooperation Framework Agreement with Zhejiang Anji Economic Development Zone Management Committee for a 4.8 GW heterojunction (HJT) solar cell and 4.8 GW automatic module line. It plans to develop this capacity in Anji Economic and Technological Development Zone in a joint investment with other partners. The RMB 4.7 billion project will be realized in 2 phases.
Scenergy expanding manufacturing capacity: Scenergy intends to invest RMB 1.5 billion to build a project with annual production capacity of 4 GW silicon wafers and 4 GW crystalline silicon solar cells. It aims to complete the construction period within 8 months. Project location is identified as Liyang High-tech Zone of Jiangsu Sukong Photovoltaic Development in Jiangsu province's Changzhou City.