China PV News Snippets: Jianhu, Fuyao Glass, Autowell, Hengdian

• Jianhu County High-tech Zone and Jiangsu Lushan New Materials Co., Ltd. sign an annual production agreement for 20 GW solar cell packaging film
• The first batch of world's largest tidal-flat utility PV plant of 300 MW has been successfully connected to the grid for power generation
• Fuyao Glass proposes to issue and place over 101 million additional H Shares to qualified investors
• Autowell Technology states the company expects to achieve a net profit between RMB 134 million ($ 20.70 million) to RMB 152 million ($23.48 million
• Hengdian DMEGC expects net profit attributable from January 1, 2020 to December 31, 2020 to be between RMB 967 million ($149.38 million) and RMB 1,071 million ($165.44 million)

Signing of 20 GW and 3.5 GW projects take place in Jianhu: In a signing ceremony held at Jiangsu Province, Jianhu County High-tech Zone and Jiangsu Lushan New Materials Co., Ltd. signed an annual production agreement for 20 GW solar cell packaging film. While, Jiangsu Runda Photovoltaic Co., Ltd. signed a 3.5 GW high-efficiency photovoltaic module production agreement with the High-tech Zone. Both these projects are expected to further develop the county's new energy industry. Last month, Fujian Haiyuan Composites Technology Co., Ltd. had also expressed its desire to set up a new company in Jiangsu province which will focus on building high efficiency solar cell and  module production lines with an annual capacity of 10 GW each (see Haiyuan's 20 GW Solar Cell & Module Capacity In Jiangsu)

1^st phase of world's largest tidal-flat PV plant connected to grid: The first batch of the world's largest tidal-flat utility PV plant of 300 MW has been connected to the grid. The project, contracted by the 12th Bureau of Hydropower, has an installed capacity of 300 MW spread across a water surface area of 4,516 acres.  The PV power station comprises 75 PV generation unit arrays and the electricity generated f is converted using Solis 255 kW string inverters, before being boosted to 35kV by a box-type substation.

Fuyao Glass to raise funds to expand PV glass business: In order to expand the investor base of H shares and optimize the capital structure of the company, Fuyao Glass has proposed to issue and place over 101 million additional H Shares to qualified investors. This represents 20% of the total number of issued H Shares of the glass maker. In an announcement, the company said that the proceeds from the issuance will be used for different purposes – to replenish the working capital, repay interest-bearing debts, invest in the research and development projects, optimize the company's capital structure, and expand the photovoltaic glass business as well as for general corporate purposes.

Autowell 2020 net profit to increase by 82.2% to 106.8%: In its 2020 annual performance pre-increase announcement, PV equipment maker Autowell Technology stated it expects to achieve a net profit of RMB 134 million ($ 20.70 million) to RMB 152 million ($23.48 million). Compared to the same period last year, the profit will increase by over RMB 60 million ($9.27 million) to RMB 78 million ($12.05 million), an increase of 82.24% to 106.76%. This substantial increase in the company's performance can be attributed to the increase in the production and sales volume of the company's multi busbar stringer for electrically connecting solar cells in modules, and the increase in main operating income.

Hengdian DMEGC's net profit in 2020 to increase by 40% to 55%: Releasing its 2020 annual performance forecast, Hengdian Group DMEGC Magnetics said it expects the net profit attributable to shareholders of listed companies from January 1, 2020 to December 31, 2020 to be between RMB 967 million ($149.38 million) and RMB 1,071 million ($165.44 million), an increase of 40% to 55% over the same period the previous year. This profitability is due to the expansion of the company's production capacity and the market, it said.

TaiyangNews to hold Virtual Conference on Advanced Solar Module from Jan 27-28 2021: TaiyangNews will be holding its first digital conference in 2021, covering Advanced Solar Module Technology. The 2-day event, which will take place on Jan 27-28, 14:00-17:00 CET, will be also the launch event for the latest TaiyangNews report on the same topic. At the Conference, there will be representatives from world leading solar module manufacturers (including Trina Solar, Risen Energy, LONGi, JinkoSolar, Chint) discussing developments and improvements of commercial solar panels. As requirements differ for residential, C&I and utility-scale panels as well as for rooftop and ground-mount modules, the conference will look at the latest solar module updates for these applications. Register for free now (see TaiyangNews Virtual Conference on Advanced Solar Modules)