China PV News Snippets

Shanghai Electric's Block B Dubai Phase V PV project put into operation; Golden Photovoltaic receives capital contribution from shareholder; Shangji Automation revenue at RMB 6.03 billion in Q3; n-type cell modules to dominate Risen production capacity; JSG releases Q3 2022 forecast.

Shanghai Electric's Dubai project with JinkoSolar modules put into operation: Shanghai Electric Power Co., Ltd., one of the major listed companies owned by State Power Investment Corporation Limited, said in a WeChat communication that Block B of the Dubai Phase V photovoltaic project, which it had undertaken, has been officially put into commercial operation. The fifth phase of the 900 MW PV project is supposed to be one of the largest PV power stations in Dubai and uses advanced solar PV power generation technology. Located in the Maktoum Solar Park, the project had begun in July 2020 and is divided into three blocks A, B and C, with a construction scale of 300 MW in each block. JinkoSolar is the solar module supplier for the DEWA Phase 5 project and has supplied its bifacial panels.

Golden Photovoltaic receives RMB 49 million: Supplier of high-end special building glass, Golden Photovoltaic (formerly known as Golden Glass), announced that its holding subsidiary, Golden Yide, has received a capital contribution of RMB 49 million ($6.82 million) from its shareholder, Our House. The funds will be used to construct and operate 4.8 GW high-efficiency heterojunction cell and module facilities.

Shangji Automation Q3 2022 report released: Special equipment manufacturer for the PV industry Shangji Automation released its Q3/2022 report.

Here are the details of what the company has achieved in the first 3 quarters:

• Revenue of RMB 17.49 billion ($2.43 billion), a year-on-year increase of 130.49%
• Net profit of RMB 2.83 billion ($0.39 billion), a year-on-year increase of 101.43%
• Net profit exceeded that of 2021 as of now

Here are the details of what the company achieved in the third quarter alone:

• Revenue of RMB 6.03 billion ($0.84 billion), a year-on-year increase of 50.78%
• Net profit of RMB 1.25 billion ($0.17 billion), a year-on-year increase of 125.74%, setting a new record for single-quarter net profit. The company feels that the expansion of the monocrystalline silicon business is behind this steep rise in profit

Shangji Automation had achieved an operating income of RMB 11.4 billion in H1/ 2022 (see China PV News Snippets)

n-type cell modules to dominate Risen production capacity: Releasing an investor relation report, Chinese solar panel maker Risen Energy said that its new production capacity will be dominated by n-type cell modules. The company said that its Ninghai facility has a production capacity of 15 GW n-type ultra-low carbon high-efficiency heterojunction cells and 15 GW high-efficiency solar modules. Currently, the facility is in its first phase and has completed the equipment bidding for 5 GW n-type ultra-low carbon high-efficiency HJT cells and 10 GW high-efficiency solar modules. This facility will be put into operation by April 2023. Also, the company's HJT pilot cell line located in Jiangsu, with an annual production capacity of about 500 MW, has produced its first 210-size half-cell ultra-thin heterojunction cell in mid-May this year, the company said. The average efficiency of the cells produced is 25.2%, and the yield rate is 98.5%.

JSG Q3 forecast announced: Semiconductor material equipment manufacturer JSG released its forecast for the third quarter of 2022. The company expects to achieve a net profit of RMB 1.8 to 2.1 billion ($0.25 to $0.29 billion), a year-on-year increase of 70%-90%. In the third quarter alone, the company expects to achieve a net profit of RMB 680 to 902 million ($94.6 to $125.5 million), a year-on-year increase of 33.44%-76.99%. The company said that it could achieve this rapid growth because it had accelerated localization of semiconductor equipment, market verification and promotion of semiconductor equipment, thus increasing its semiconductor equipment orders.