Yuze Semiconductor to build silicon ingots and wafer facilities in Chuxiong city; GCL System to construct 20 GW TOPCon PV facility; Hangzhou First releases Q3 2022 forecast.
Yuze Semiconductor to build 20 GW silicon ingots & 20 GW wafer facilities: Chuxiong government website announced the signing ceremony for key investments in green silicon photovoltaic and semiconductor new material industry. Solar polycrystalline silicon ingots company Yuze Semiconductor will now be funding the construction of 20 GW monocrystalline silicon pulling rod and 20 GW wafer facilities in the city. On completion of these facilities, the annual output value is expected to be about RMB 38 billion ($5.2 billion) while about 3,500 jobs are supposed to be created, triggering economic development in the city.
GCL System to invest RMB 8 billion in 20 GW TOPCon facility: Chinese solar PV cell and module manufacturer GCL System Integration Technology Co. Ltd said it has signed an investment agreement with the People’s Government of Wanchai District. With this, the company will now be constructing a 20 GW TOPCon photovoltaic cell facility and its supporting facilities in Wanzai District. With an investment of RMB 8 billion ($1.1 billion), the facility will be built in two phases of 10 GW each and will be completed in a span of 2 years. Recently, GCL System 15 GW facility at Hefei had achieved full production (see China PV News Snippets)
Hangzhou First very positive Q3/2022 forecast: EVA and back sheet manufacturer Hangzhou First Applied Material released its operating data details from January to September 2022. The Chinese company expects to achieve an operating income of RMB 13.4 to 13.5 billion ($1.83 to $1.85 billion), a year-on-year increase of 51.1% to 52.2%, and a net profit of RMB 1.508 to 1.558 billion ($0.21 billion), a year-on-year increase of 12.87%-16.61% as its photovoltaic film and photovoltaic backsheet sales increased year-on-year, leading to steady growth in operating performance. Meanwhile, in September Hangzhou First issued RMB 3.03 billion bonds (see China PV News Snippets)