Xinyi expects profit in June 2021: In an announcement, solar PV glass manufacturer Xinyi Solar said that the amount of consolidated net profit attributable to its equity holders for the six months ending 30 June 2021 is expected to increase significantly by 100% to 120%, as compared to the net profit of RMB 1166.17 million ($180.95 million) for the same period last year. The year 2020 was also good for Xinyi Solar, where the company had issued profit alerts (see Xinyi Solar Issues Profit Alert For Year 2020). The current performance can be attributed to rise in sales and profitability owing to these factors:
- increase in the average market prices of the Group’s major solar glass products
- increases in the sales volume of the Group’s major solar glass products
- improvement in the production efficiency, which reduced the adverse impact
of the increasing amounts of raw material and energy costs
Zhongli subsidiary Talesun wins RMB 612. 25 million PV module contract: Solar module supplier Zhongli Group announced that its wholly owned subsidiary Zhongli Talesun Hong Kong Limited has received two successful tender notices from Lightsource Renewable Energy Operations in the United States. As per the notice, Lightsource is expected to purchase a total of RMB 612. 25 million ($95 million) of PV modules from Zhongli Hong Kong. As mentioned, it is just a notice that Zhongli has received till now, and the companies are yet to sign a formal project order contract.
Autowell raises RMB 550 mn for R&D: Automation equipment manufacturer Autowell Technology intends to raise up to RMB 550 million ($85.34 million) for advanced intelligent equipment development and industrialization, science technology reserve funds and supplementary working capital, the company said in an announcement. Out of this, the company intends to invest RMB 300 million towards research, development and industrialization of advanced intelligent equipment, especially in the field of N-type crystalline silicon photovoltaic cells, semiconductor packaging and testing, and lithium cell manufacturing. The products that will be developed by the company include TOPCon cells equipment, semiconductor packaging and testing core equipment, and core process equipment for lithium cells. Recently Autowell had registered profit in the year 2020 (see China PV News Snippets: Autowell, Trina, Lu’an Solar)
Flat Glass to issue RMB 4 bn convertible bonds: Flat Glass Group announced that the company intends to issue convertible bonds to raise funds not exceeding RMB 4 billion ($0.62 billion). The funds will be mainly used for:
- 750,000 tons per year solar glass ultra-thin and ultra-high transmission panel manufacturing project
- distributed PV power plant construction project and
- 15 million square meters per year solar photovoltaic ultra-white glass technology transformation project
Guangdong Tapai invests RMB 1.339 bn to enter PV & energy storage: Guangdong cement industry leader Guandong Tapai Group announced plans to invest in 3 integrated photovoltaic power generation and energy storage projects with a total investment of approximately RMB 1.339 billion ($0.21 billion). The integrated projects would include a 220 MW distributed PV power generation project in Jiaoling.