Drinda H1 2023 financial results in line with expectations; JinkoSolar and Siemens sign deal focused on R&D; Cando Solar's 1st HJT module rolls off production line; DMEGC Solar's Lianyungang facility rolls off 1st module; China's July grid-connected solar energy consumption at 98.7%.
Drinda's H1 2023 revenue and profit up: Solar PV cell and automotive instrument panel assembly manufacturer Drinda reported that its revenue increased 112.83% YoY to RMB 9.421 billion ($1.3 billion) for H1 2023. Its revenues came in within the expected range of RMB 900 million to RMB 1.1 billion (see China Solar PV News Snippets). The company's net profit rose 250.23% YoY to RMB 956 million ($131.5 million). Drinda's revenue from PV cells increased 138.83% YoY in H1 2023, which was 99.88% of its total revenue for the period. Its gross profit margin for PV cells increased by 7.09% to 16.77%. In terms of production capacity, the company has put 18 GW and 13 GW of n-type TOPCon capacity into production at the Chuzhou base and the Huaian base, respectively. At the Huaian base, the 13 GW Phase II is under construction and is expected to come online by the end of 2023. At that time, n-type will account for over 80% of Drinda's production capacity, while its total capacity will reach 53.5 GW. The company claims that the average efficiency of its mass-produced cells has reached 25.5%, with the laboratory efficiency exceeding 26.2%.
JinkoSolar and Siemens sign strategic cooperation agreement: Leading PV manufacturer JinkoSolar has announced it has signed a strategic cooperation agreement with Siemens Digital Industrial Software. Focused on cooperation in the field of new energy and digital business, this agreement builds on the previous agreement between the 2 parties in 2017. According to the agreement, Siemens will use its Opcenter software platform and cooperate with JinkoSolar's factory to extend the existing Teamcenter software, the R&D process management platform of the PV industry sector, to new industries such as energy storage. The duo aims to establish a group-based and unified PLM platform in an accelerated manner, which in turn will promote the coordinated research and development of various avenues such as "wind-solar hydrogen storage." Recently, JinkoSolar signed a cooperation agreement with Huaneng Renewables, aimed at resource integration and complementing each other (see China Solar PV News Snippets).
Cando Solar exports megawatt-level busbar-free HJT modules: HJT PV module manufacturer Cando Solar has announced that it has successfully manufactured the 1st batch of its MW-level HJT high-efficiency modules and shipped it overseas. Cando Solar's busbar-free technology achieves shorter transmission distance, less shading and low-temperature silver paste consumption, along with improved anti-cracking ability and power generation.
DMEGC Solar rolls off 1st module from Lianyungang facility: Vertically integrated solar module manufacturer DMEGC Solar announced the rollout of its 1st module from its Lianyungang 5 GW high-efficiency module fab. With this facility, the company's module production capacity now stands at 12 GW. Lianyungang is the 5th intelligent manufacturing base built by DMEGC Solar, and its second such facility in Jiangsu.
China's grid-connected new energy consumption in July: The national utilization rate of PV power generation remained constant vs. June at 98.7%, while that of wind increased to 98.4% from 97.7%, according to the latest figures released by the China New Energy Consumption Monitoring and Early Warning Center (see China Solar PV News Snippets). For the first 7 months of the year, the national utilization rate of PV power generation stands at 98.3%, with wind power utilization at 97.0%. 13 provinces, including Beijing, Tianjin, Shanghai, Jiangsu, Zhejiang, Anhui, Fujian, Jiangxi, Hunan, Chongqing, Sichuan, Guangxi, and Hainan achieved 100% photovoltaic utilization for the month of July.