China PV News Snippets: NEA, LONGi, JA

• NEA says in July 2020, 886.7 MW new residential solar power capacity was installed in China
• LONGi will purchase 124,800 tons of polysilicon from Asia Silicon under a new agreement signed
• JA Solar grew its net profit by 77.74% on annual basis during H1/2020 to RMB 701 million

China added 886.7 MW residential solar in July 2020: The National Energy Administration (NEA) has released the latest solar PV installation numbers for July 2020 when the country added 886.7 MW of residential solar capacity. Basis information submitted by 30 provinces, this capacity is included in the overall national subsidy allocation for 2.93 GW. The province with the largest capacity added was Shandong with 385 MW. In H1/2020, the country had installed 11.52 GW of new solar PV capacity, the NEA announced in July 2020 (see NEA: China Installed 11.52 GW Solar PV In H1/2020).

LONGi to buy polysilicon from Asia Silicon: LONGi has entered into a polysilicon purchase agreement with Asia Silicon for 124,800 tons for a total value of RMB 9.498 billion ($1.37 billion). The supply will be completed between September 1, 2020 to August 31, 2025. Price of the polysilicon has been adjusted on a monthly basis. LONGi's wholly-owned subsidiaries Yinchuan LONGi Silicon Materials, Ningxia LONGi Silicon Materials and YinChuan LONGi Photovoltaic Technology Co. Ltd. will procure this capacity from Asia Silicon.

Polysilicon is currently in short supply as major producers have had to cut back their capacity due to various reasons, with Tongwei as the latest addition to the list (see Flood Warning Halts Tongwei's Polysilicon Production).

JA Solar earned RMB 701 million net profit in H1/2020: JA Solar has released its official financial results for the first half of 2020 reporting a net profit of RMB 701 million ($101 million). This is an increase of 77.74% on an annual basis. The company received most of its revenue from the overseas markets while the domestic market accounted for only 30.43% of the total, reported Polaris Solar Photovoltaic Network. Previously, JA Solar guided for its annual net profit to increase by 64.83% to 85.11% for the first 2 quarters of 2020 (see China PV News Snippets: LONGi BIPV, JA Solar H1/2020).