China PV News Snippets

China industrial silicon output grows by 26.9%; Hunan Yujing Machinery net profit at RMB 38 million in H1 2022; No more subsidies for 5 PV projects in Inner Mongolia

China silicon production at 1.436 million tons in H1/2022: The Ministry of Industry and Information Technology has released the China industrial silicon report for the first half of 2022. Here are the details:

• Year-on-year increase in output: In H1/2022, China's industrial silicon output was 1.436 million tons, a year-on-year increase of 26.9%, as per China Nonferrous Metals Industry Association. The domestic consumption was 1.092 million tons, a year-on-year increase of 24.4%, which was due to demand from the photovoltaic industry.
• Silicon prices still high in H1: In the first half of 2022, the average price of 553 metallurgical grade industrial silicon was at RMB 19,916/ton ($2,948.7/ton), up by 54.1% year-on-year, while 421 chemical grade industrial silicon was at RMB 22,342/ton ($3,308/ton), a year-on-year increase of 59.3%.
• Year-on-year decrease in exports: As per the General Administration of Customs, China's industrial silicon exports were 352,000 tons in H1/2022, down 12.6% year-on-year.

Hunan Yujing Machinery registers profit in H1/2022: Releasing its 2022 semi-annual report, wire saw manufacturer Hunan Yujing Machinery said that its:

• Operating income from January to June 2022 was RMB 381 million ($56.41 million), an increase of 122.02% over the same period of the previous year
• Net profit attributable to shareholders of the listed company was RMB 38 million ($5.6 million), an increase of 3,009.71% over the same period of the previous year
• Basic earnings per share was RMB 0.3823 ($0.057), compared to RMB 0.0123 (0.0018) per share in the same period last year

During the reporting period, the company said that sales of its multi-wire cutting machine, diamond wire and thermal field system products had increased significantly, leading to a boost in the company's operating income. In April, Hunan Yujing Machinery and Shuangliang Eco-Energy had launch a JV (see China PV News Snippets)

Subsidies for feed-in power of 5 projects cancelled: Photovoltaic power station investor and operator Taiji Industry announced that it is adhering to the notice about repealing the on-grid electricity price put up by the Development and Reform Commission of Inner Mongolia Autonomous Region. The notice said that the subsidized contracted on-grid electricity price for several projects have to be abolished. An audit showed that these projects had changed investment entities without authorization. With this, 5 centralized photovoltaic power plants – Balagon 10 MW, Xilinhot Shengli 20 MW, Chayouhouqi 30 MW in the second phase, Zhuozi 20 MW, and Bayin 35 MW in second phase – will no longer enjoy electricity subsidy.