China PV News Snippets: Risen, Tongwei, Zhonghuan

• Shangji Automation and its wholly-owned subsidiary Hongyuan New Materials, and Risen Energy and its wholly-owned subsidiary Bayannaoer Concentrator Silicon sign a contract to procure 50,000 tons of polysilicon
• Tongwei plans to reduce the annual production capacity of 7.5 GW high-efficiency crystalline silicon solar cells of Jintang Phase I PERC line to make HJT cells there
• Zhonghuan Semiconductor released its first quarter performance forecast for 2021 and predicts to achieve an operating income of RMB 7 to 7.6 billion, an increase of 54.99% to 68.27% year-on-year

Tongwei reduces production capacity of Jintang Phase I PERC cells to 5.6 GW for HJT: Tongwei Co., Ltd. issued an announcement that it plans to adjust the annual production capacity of 7.5 GW high-efficiency crystalline silicon solar cells of Jintang Phase I production, reducing it from 7.5 GW to 5.6 GW. After the reduction, the remaining site will be used for the construction of its HJT test production line. The adjustment is being made in accordance with the overall development strategy of the photovoltaic business and the path of technology research and development, it said. Tongwei, the world's largest cell maker, believes that the photovoltaic technology is constantly changing with the emergence of new technologies and processes. And only through technological upgrades, cost reductions and efficiency enhancements can the industry effectively respond to the opportunities and challenges brought about by industry development and changes.

Zhonghuan Semiconductor's Q1 net profit expected to rise by 86.27% to 117.9%: Chinese solar wafer manufacturer Tianjin Zhonghuan Semiconductor released its first quarter performance forecast for 2021. According to the announcement, the leading 210mm wafer maker expects to achieve an operating income of RMB 7 to 7.6 billion ($1.07 to $1.16 billion) in Q1/ 2021, an increase of 54.99% to 68.27% year-on-year. In the first quarter, the production and sales of photovoltaic G12 silicon wafers increased month by month, and profitability and market competitiveness also gradually improved. Last month, the company had released its 2020 annual results, in which it reported to have achieved an operating income of RMB 19.05 billion (RMB 2.93 billion), a year-on-year increase of 12.85% (see China PV News Snippets: Zhonghuan, Sineng, JYT)

Risen Energy signs silicon material business order: In an announcement, Shangji Automation said its wholly-owned subsidiary Hongyuan New Materials, and Risen Energy and its wholly-owned subsidiary Bayannaoer Concentrator Silicon Industry Co., Ltd. have signed a contract to procure 50,000 tons of polysilicon materials from April 2021 to December 2024 for an estimated amount of about RMB 6.4 billion ($0.98 billion) (tax included). While Risen is a solar cell and module producer, its subsidiary Bayannaoer Concentrator will be producing silicon material for ingot/wafer maker Hongyuan. It was last year that Risen had acquired 100% equity of Bayannaoer Concentration Silicon Industry Co., Ltd. from Inner Mongolia Dunan Photovoltaic Technology Co., Ltd, finally fully moving up the value chain, adding silicon production to its portfolio (see China PV News Snippets: Xinte, Longyuan, Risen, CSI, Jinko)