- Aiko Solar’s Q3/2022 operating income went up 127.31% YoY to RMB 9.8 billion
- This contributed to the 9M/2022 operating income of RMB 25.8 billion for the company
- Its investment in R&D activities jumped up to RMB 925 million in 9M/2022, from RMB 413 million last year
Solar cell manufacturer from China, Aiko Solar cites high selling price and technological improvements as reasons for its operating income in 9M/2022 growing 130.65% to RMB 25.8 billion, with Q3/2022 contributing RMB 9.8 billion to the total.
The manufacturer’s 3rd quarter operating income increased by 127.31% annually thanks to growth in sales volume, increased selling price and increased revenue during the period. For this reporting quarter, its net profit was declared as RMB 794 million vis-à-vis RMB -22.06 million in Q3/2021 (see Aiko Solar Releases Q3/2021 Financial Report).
As for 9M/2022, Aiko Solar became profitable again as its net profit was reported as RMB 1.4 billion as compared to a loss of RMB -45 million a year back. Management listed improvement in conversion efficiency, capacity utilization rate among reasons for not being in the red this time around.
The cell maker has significantly increased its R&D spending during the initial 3 quarters of 2022 having invested RMB 925 million, up from RMB 413 million during the same period in the previous year.
The company has not announced its Q3/2022 or 9M/2022 solar cell shipments in the stock exchange announcement, however its H1/2022 shipments grew 94% annually to 16.5 GW (see Aiko Solar’s H1/2022 Financial Results).
In September 2022, Aiko said it plans to purchase 36 sets of PV cell production equipment from Zhuhai Max Automation customized for its ABC cell technology (see China PV News Snippets).
The All Back Contact or ABC solar modules that Aiko is developing through its subsidiary Solar-Grids are completely silver-free and have a mass production efficiency of 23.5% (see Solar-Grids Launches All Back Contact Modules).