JA Solar is raising RMB 8.96 billion funds to support manufacturing expansion; Metron issues H1/2023 forecast; CNBM starts up 950 ton float glass production line; Solar power generation grew by 7.4% YoY in China.
JA Solar to raise funds: Solar PV manufacturer JA Solar aims to raise RMB 8.96 billion by issuing convertible corporate bonds that it plans to use to add 45 GW manufacturing capacity. Specifically, the proceeds will be deployed for its 20 GW crystal ingot and wafer project in Baotou JA Solar (phase III), 10 GW high efficiency cell and 5 GW solar module project in Qujing, 10 GW high efficiency cell project in Yangzhou and remaining to be used as supplementary working capital.
Metron's H1/2023 forecast: Electroplated diamond wire producer Metron New Materials forecasts to report 30.59% to 36.59% increase in net profit for H1/2023 to RMB 870 million to RMB 910 million. According to the company's unaudited performance forecast, it experienced strong market demand for electroplating diamond lines, backed by cost reduction and efficiency improvement. In Q2/2023, it sold 28.0932 million km of carbon steel diamond wire for PV silicon slicing, that was a QoQ improvement of 13.20%, for an ASP of RMB 37.09/km which remained almost at the same level. Sales volume of tungsten diamond wire for slicing went up 63.12% sequentially in Q2/2023 to 3.4104 million km, for an ASP of RMB 66.21/km.
New float glass line operational: China National Building Material Group (CNBM) has announced commissioning of its 950 ton high-quality float glass production line and commenced work for the 1,200 ton solar PV cell packaging material project. After the completion of the 1,200 ton project, it will effectively supplement the PV glass gap in the Beijing-Tianjin-Hebei region and surrounding regions, it said.
Solar generation grows in China: According to the National Bureau of Statistics in China, the country reported 4,168 billion kWh of total power generation that went up 3.8% annually. For solar power, the increase was 7.4%, while wind power generation increased by 16.0%, nuclear power by 6.5%, thermal power by 7.5%, but hydropower decreased by 22.9%.