China PV News Snippets: Yijun, GCL-SI, JYT, Zhongli, Mindong

Yijun Yaoneng To Invest RMB 10 Billion For PV Glass Factory; GCL-SI Expects Loss In H1/2021, While JYT Corporation Hopes To Report Profit; Joint Venture Between Zhongli Group & SPIC; Mindong Electric To Develop Distributed Projects In Fujian

China PV News Snippets: Yijun, GCL-SI, JYT, Zhongli, Mindong

A glass manufacturer for other industries, Hubei Yijun Yaoneng New Material is now entering the solar PV glass manufacturing domain. (Illustrative Photo; Photo Credit: petrmalinak/Shutterstock.com)

  • Yijun Yaoneng will enter PV glass manufacturing with plans to develop a facility with annual production capacity of 180 million cubic meters
  • Citing high module prices and tight supply of polysilicon during H1/2021, GCL-SI expects to report loss during the period
  • JYT Corporation expects to report an increase of RMB 190 million in its net profit for H1/2021
  • Zhongli Group and SPIC Jiangsu to launch a joint venture to develop distributed PV and agrivoltaic projects
  • Mindong Electric Power to develop distributed solar PV projects in Fujian province

PV glass manufacturing for Yijun: Glass manufacturing company Hubei Yijun Yaoneng New Material Co., Ltd. is entering PV glass manufacturing with an estimated investment worth RMB 10 billion. According to local media reports, Yijun Yaoneng will build a PV new material industrial park over some 2,000 acres of land in Hubei province which will be constructed in 2 phases. It will have 180 million cubic meters of PV glass capacity on completion. 

GCL-SI’s H1/2021 preliminary results: Solar module manufacturer GCL System Integration (GCL-SI) expects to report a loss of RMB 180 million to RMB 270 million ($28 million to $42 million) in H1/2021, according to the company’s preliminary financial results shared for the period. Among the reasons it attributes for this expected loss is insufficient supply of polysilicon during the reporting period and the resultant rise in prices. This led to production suspension and thus there was insufficient capacity utilization. The 2nd reason was the suspension of some power plants by EPC companies and drop in overall demand due to high module prices. GCL-SI also pointed at its strategy of divesting some power plant assets leading to a total ‘disposal loss’ of RMB 102 million ($16 million).

JYT expecting net profit in H1/2021: Solar and semiconductor equipment manufacturer JYT Corporation expects to report net profit of RMB 419 million to RMB 469 million in H1/2021, according to a preliminary financial update released for the reporting period. It would be an increase of RMB 190 million over RMB 240 million it reported in H1/2020, representing an annual increase of 83% to 105%. The crystallization equipment supplier believes it would be due to the substantial increase in operating income of the company’s new materials business during the reporting period.

Zhongli Group & SPIC Jiangsu announce partnership: Zhongli Group that supplies solar modules through Talesun Solar, has signed a cooperation agreement with State Power Investment Corporation (SPIC) Jiangsu New Energy to launch a new joint venture company for new energy project resources. To be held by SPIC and Zhongli as 51:49 stakeholders, the new company will focus on distributed solar PV generation, agrivoltaics projects, among other collaborations.

Distributed generation in Fujian: New energy company Fujian Mindong Electric Power has secured an agreement to develop distributed solar PV projects in 4 counties of Fujian province. The 4 counties are Pingnan, Zhouning, Zherong and Gutian. Under the strategic cooperation agreement, Mindong Power will develop distributed PV projects for public offices, schools, hospitals, industrial parks, factories, mines and industrial plants, among other locations.

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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