China Solar PV News Snippets

QC Solar reports H1 2023 results; TCL Zhonghuan H1 2023 net income up over 55%; BCCY to build HJT cell fab; Guangdong Shenzhilan Dazhu to set up ingot and cell manufacturing facility; SPIC launches tenders for modules and inverters.

QC Solar reports high profits in H1 2023: PV system and power storage products manufacturer QC Solar has reported positive results for the 1^st half of 2023. The company recorded revenue of about RMB 649 million ($88.99 million), an increase of 20.02% year-on-year (YoY). During the same period, its net profit rose 86.16% YoY to about RMB 87.61 million ($12.01 million). The company said that the PV junction box still remains its largest source of revenue. Revenue from PV junction boxes was about RMB 544 million ($74.59 million), or 83.82% of total revenues, with a gross profit margin of 20.07%. Photovoltaic connectors accounted for 14.35% with a revenue of RMB 93.17 million ($12.77 million) and a 24.81% gross profit margin. The company's accessories and other businesses accounted for the rest, with a revenue of RMB 11.93 million ($1.63 million) and a gross profit margin of 44.19%.

TCL Zhonghuan reports H1 2023 financial results: Leading solar wafer supplier TCL Zhonghuan Renewable Energy Technology Co. Ltd. reported sales of RMB 34.897 billion ($4.78 billion) for the 1^st half of 2023, up 10% YoY. The company's net income increased more than 55% YoY to RMB 4.536 billion ($621.89 million) during the period. Last week, Zhonghuan released the latest price list for its monocrystalline silicon wafers – and all formats have seen price increases since their previous listing (see China Solar PV News Snippets).

BCCY plans to set up high-efficiency HJT cell facility: Biogas-focused Chinese company BCCY has announced its intention to sign a deal with the Management Committee of Huzhou Moganshan High-tech Industrial Development Zone to build a high-efficiency HJT cell facility. With an investment of about RMB 1.4 billion ($191.9 million) in fixed assets, the facility will consist of 8 high-efficiency HJT cell production lines. Once fully complete and at capacity, the project subsidiary will have an annual production capacity of 4 GW.

Guangdong Shenzhilan Dazhu to set up ingot and cell manufacturing facility: Recently, the signing ceremony of the investment agreement for monocrystalline silicon production project was held in Dazhu. Guangdong Shenzhilan Dazhu has signed an investment agreement to build a 10 GW monocrystalline silicon ingots and a 5 GW + 5 GW monocrystalline silicon TOPCon cell facility in the Dazhu Economic Development Zone. To be built in 3 phases, the facility is expected to take in an investment of RMB 10.3 billion ($1.41 billion). At completion, the plant is expected to generate RMB 12 billion ($1.64 billion) in revenues annually.

SPIC invites tenders for PV modules and inverters: Power generation company State Power Investment Corporation (SPIC) has invited tenders for the 50^th batch of centralized bidding for the purchase of 10 GW of PV modules and 10 GW of inverters. Of the 10 GW of PV modules, p-type modules will constitute 5,800 MW, and the remaining 4,200 MW n-type. For PV inverters, the 10 GW breaks down into 8900 MW for 1500V string inverters and 1100 MW for 1500V centralized inverters.