China Solar PV News Snippets

Astronergy completes its C round of investment; Trina expects strong profit in H1 2023; Keqiang Shares IPO passes BSE review; Tongwei Solar THC production line developed; Cumulative output of PV rolled glass at 11.565 million tons.

Astronergy raises RMB 2 billion: In an announcement, PV module manufacturer Astronergy said that it has completed its C round of investment and about RMB 2 billion ($0.28 billion) was raised in this round. The investors include Sparkedge Capital, among others. The company also went on to add that it expected its photovoltaic module production capacity to touch 50 GW by the year end, of which TOPCon will be about 38 GW, and photovoltaic cell production capacity will be about 45 GW. In the recently released TaiyangNews Top Solar Module Listing for July 2023, Astronergy's Astro N5 series, built with 144 half cut cells and 182 mm wafer format is still in 7^th position with the same 580 W power (see Top Solar Modules Listing – July 2023)

Trina Solar forecasts semi-annual results: Disclosing its semi-annual performance forecast, module manufacturer Trina Solar said that it expected the net profit in the first half of 2023 to be around RMB 3.3 billion to RMB 3.7 billion ($0.46 billion to $0.52 billion), a year-on-year increase of 162.14% to 195.61%. The reasons for this growth, the company said is because:

• The photovoltaic product business developed rapidly during this period as compared to previous year, leading to rise in shipment volume and sales revenue of photovoltaic modules
• Benefiting from the substantial increase in the company's advanced production capacity, the proportion of sales of high-power 210 series photovoltaic products rose significantly compared with the same period last year
• At the same time, benefiting from the gradual release of the company's upstream silicon wafer production capacity, the comprehensive cost of products further decreased
• The company's strategic layout in the photovoltaic industry chain in the early stage also began showing results during the reporting period

Keqiang Shares IPO passes BSE review: In the recently announced results of the 37th review meeting of Beijing Stock Exchange Listing Committee 2023, local reports said that private joint-stock enterprise Keqiang Shares has met the issuance conditions, listing conditions, and information disclosure requirements, and has passed the meeting. This is apparently the 35th company to pass the meeting on the Beijing Stock Exchange in 2023. Keqiang Shares' mainly deal in photovoltaics products and its flagship product include solar silicone panels, whose downstream customers include LONGi, Canadian Solar, JinkoSolar, JA Solar, Jinchen Solar, GCL Integration.

Tongwei Solar THC production line developed: Integrated solar PV manufacturer from China, Tongwei Solar announced that its THC production line based on HJT technology has completed the development of double-sided nanocrystals. The current highest efficiency is 26.49%, the module power is 732.6 W (210 size 66 pieces), and the yield rate is over 97%. The company went on to add that in order to further enhance the market competitiveness of THC products, it is putting the development of copper interconnection technology research on fast track, and is focusing on advancing the GW-level copper interconnection test work in an orderly manner. Last month, Tongwei module from Yancheng had passed TÜV Nord certification (see China Solar PV News Snippets)

Cumulative output of PV rolled glass at 11.565 million tons: Announcing the operation of the photovoltaic rolling glass industry from January to June 2023, the Ministry of Industry and Information Technology of China said that during this period:

• The cumulative output of photovoltaic rolled glass was 11.565 million tons, an increase of 68.7% year-on-year, of which the output in May was 2.034 million tons, an increase of 48.2% year-on-year.
• The average price of 2mm photovoltaic rolled glass was RMB 18.5/square meter ($2.5/square meter), down by 11.7% year-on-year; and the average price of 3.2mm photovoltaic rolled glass was RMB 25.6/square meter ($3.58/sq meter), down by 5.4% year-on-year.