- Xinte Energy has issued a profit warning for its financials in H1/2020 expecting to bring in profit of only RMB 5 million, compared to RMB 235.49 million it reported a year back. The polysilicon producer also issued a clarification for its H1/2020 ASP of polysilicon to be RMB 52.1 per kg instead of wrongly quoted ASP of RMB 5.21 per kg in an earlier announcement
- China Pingmei Shenma Group will be investing in a PV glass and module fab in Henan province
- Antai Solar has supplied its MAC solar mounting system for a 10 MW rooftop solar system whose 1st phase is complete
Xinte Energy issues profit warning: Polysilicon producer Xinte Energy issued a profit warning for the period H1/2020. Its preliminary assessment of its unaudited results for the period showed that it expects profit attributable to the owners of the company to be not more than RMB 5 million compared to RMB 235.49 million in H1/2019. In a stock exchange filing, it stated the reasons as drop in the average selling price of polysilicon and the impact of COVID-19 on its EPC contracting business.
The company also issued a clarification regarding the average selling price (ASP) of polysilicon it sold during the period at RMB 52.1 per kg compared to H1/2019 price of RMB 62.9 per kg, representing an annual drop of 17.17%. It issued this correction after the company wrongly quoted the H1/2020 and H1/2019 ASP as RMB 5.21 per kg and RMB 6.29 per kg, respectively.
Polysilicion supply is becoming a matter of concern for solar cell and module manufacturers across the board. Recently, while sharing its Q2/2020 financial results, Daqo New Energy said it did not expect supply to be enough to cater to the demand for polysilicon at least over the next 15 months to 18 months (see Daqo Sold More Polysilicon Than Guided In Q2/2020).
New entrant into solar module manufacturing business: China Pingmei Shenma Group will be investing RMB 2 billion to build a 5 GW solar module fab in Xuchang City of Henan province which will be its first investment in the solar PV space. At the same time, it will also invest RMB 1 billion on building a PV glass factory with per day production capacity of 900 MT. The company signed a cooperation framework agreement for these projects with Xuchang City and Henan Investment Group.
Antai Solar supplying mounting system for rooftop system: Solar mounting service provider Antai Solar has supplied its MAC mounting solution for a 10 MW rooftop solar power plant in Jiangsu province whose 1st phase is already complete. The project is coming up at Cross-border Industrial Park. The MAC solar racks are rail-less which the company says makes installation quicker and made it easy to install it on open flat roof space.
Xinte, Shenma Module Production