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 1st 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 1st 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 50th 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.