JinkoSolar named among Fortune's Most Admired Chinese Companies
JinkoSolar has announced that it has been recognized on Fortune's Most Admired Chinese Companies list for its excellence in management, talent attraction, product quality, social responsibility, and global reach. Known for its PV and energy storage leadership, JinkoSolar claims to have invested nearly RMB 18 billion ($2.54 billion) in R&D since 2021, while achieving ever-higher efficiency numbers for its n-type TOPCon cells. International projects, such as a $1 billion Saudi venture, highlight its global market influence. On the ESG front, JinkoSolar says it integrates sustainability in operations, with 50% green electricity usage and comprehensive carbon reduction across its supply chain.
Recently, JinkoSolar reported an improvement in Q3 gross margin over Q2 2024 (see JinkoSolar Shipped 23.8 GW Solar Modules During Q3 2024).
Zhongli Group faces delisting risk
Zhongli Group, the parent company of Talesun Solar, has stated in an announcement that it must recover RMB 1.805 billion ($254.86 million) in non-operating funds by November 10, 2024. If not, it faces the risk of suspension and delisting. As of the announcement date, the company expects it will be difficult to complete the recovery within the remediation period and may face suspension from November 11, with the suspension period not exceeding 2 months. Furthermore, whether the company's restructuring plan can be successfully implemented by the end of 2024 remains uncertain. If the plan is not completed on time, it may trigger the relevant delisting regulations. According to its recently released Q3 2024 report, Zhongli Group achieved a revenue of RMB 2.477 billion ($350.77 million) in the first 3 quarters of 2024, a year-on-year decrease of 28.88%. The net profit attributable to shareholders, excluding non-recurring gains and losses, was a loss of RMB 458 million ($64.55 million).
Earlier this year, Talesun signed an MoU with Turkey's MEM Solar to collaborate on a 1.5 GW solar module facility over 3 years (see China Solar PV News Snippets).
Drinda's pilot TBC cell can achieve 1%-1.5% efficiency improvement over typical n-type cells
In a recent release, Drinda states that it continues to upgrade and iterate TOPCon cell technology, and actively conducts research and development reserves for the industry's cutting-edge next-generation perovskite tandem, BC and other technologies. It says that its pilot TBC cell conversion efficiency can be improved by 1%-1.5% compared with the mainstream n-type cell efficiency. As a platform, BC cell technology can be superimposed with the TOPCon process. Drinda’s BC cell technology can be based on the existing TOPCon production line and upgraded for individual back-end processes and equipment additions.
Drinda recently also entered into a land lease agreement with the Sohar Free Zone in Oman, advancing its overseas production plans (see Drinda Secures Land For 5 GW Solar Cell Production In Oman).
Zhengye Technology drops PV cell & module fab plans
Chinese industrial testing solution provider Zhengye Technology has announced that its board of directors has passed a resolution to terminate its plans for a 5 GW solar module and 8 GW heterojunction (HJT) cell production base. In 2022, the company announced an investment of RMB 500 million ($70.41 million) in Jingdezhen, Jiangxi Province, to build the said production base in 3 phases. The 2 GW first phase for module production has been commissioned with 1 GW in production, while the remaining 1 GW of equipment is in the testing phase. The company cited changes in the solar industry and the financing environment as the major reasons for deciding to terminate this investment.
CECEP Solar shortlists 5 companies for 2.5 GW TOPCon module procurement
CECEP Solar has announced the shortlisted suppliers for its 2024 solar module framework agreement procurement. This procurement covers 2.5 GW of n-TOPCon bifacial dual-glass modules, with 5 companies shortlisted. The companies and their bid prices are as follows: Astronergy, RMB 0.688 ($0.096) per watt; CECEP Solar’s subsidiary CECEP Solar Technology (Zhenjiang) Co., Ltd., RMB 0.68 ($0.095) per watt; Huansheng Solar (a subsidiary of TCL TZE), RMB 0.68 ($0.095) per watt; Trinasolar, RMB 0.70 ($0.099) per watt; and Canadian Solar, RMB 0.703 ($0.099) per watt. The average bid price of the 5 companies is RMB 0.6902 ($0.096) per watt.
Recently, Energy China announced the results of its 17 GW 2024 centralized procurement bidding for solar modules (see China Solar PV News Snippets).