Arctech strikes another supply deal in Uzbekistan; TBEA operating income and net profit up YoY for H1 2023; Jiezao Technology commences construction on HJT cell production line; DMEGC reports positive results for H1 2023; Sunwell New Energy signs supply contract.
Arctech to supply trackers to 1 GW PV plant in Uzbekistan: Solar tracking and installation solutions provider Arctech has announced that it has secured an order from China Energy Engineering Corporation Limited (CEEC) in Uzbekistan. As part of this deal, the company will be supplying 1 GW of its SkyWings solar tracking system for the Qashqadaryo Viloyati and Buxoro projects in the country. The 2 projects will add 2.3 billion kWh of electricity annually. This deal comes within 3 months of Arctech signing the Sherabad 500 MW project deal in Uzbekistan. Arctech had announced a similar follow-up deal in Saudi Arabia in April this year (see China PV News Snippets).
TBEA H1 2023 net profit up 8% YoY: Solar PV inverter and polysilicon maker TBEA reported operating income of RMB 49.778 billion ($6.8 billion), an increase of 16.89% YoY, and its net profit was up 8.17% YoY to RMB 7.467 billion ($1.025 billion). During the reporting period, the company's new energy segment reported revenue of RMB 15.983 billion ($2.2 billion), an increase of 23.37% YoY. The segment's gross profit margin decreased 11.73 percentage points YoY to 44.61%, mainly due to the sharp drop in polysilicon prices. TBEA produced 76,100 tons of polysilicon in H1 2023.
Jiezao starts construction on 1st HJT cell production line: New PV cell manufacturer Jiezao Technology announced that it has commenced construction of its 1st high-efficiency heterojunction PV cell production line at its Ninghai base. The production line is said to adopt an inline structure and a modular design. Built over an area of 72 mu, the company aims to produce 10 GW of high-efficiency HJT cells at completion.
DMEGC reports H1 2023 results: Vertically integrated solar module manufacturer DMEGC recently announced its H1 2023 financial results. The company reported operating income of RMB 10.246 billion ($1.4 billion) and net profit of RMB 1.212 billion ($166 million), an increase of 9.35% and 52.03%, respectively. DMEGC's PV business reported a revenue of RMB 6.797 billion ($933 million), an increase of 15.95% YoY. For the 1st half of 2023, the gross profit margin of the company's PV products increased by 11.09 percentage points YoY. The company sold about 1.2 GW of cells overseas, and shipped over 3.3 GW of modules, with module shipments increasing 50% YoY. In July, DMEGC had forecasted a rise in profits for the period (see China PV News Snippets).
Sunwell New Energy signs a GW-level agreement with customers: Wet-chemical technology and equipment supplier Sunwell New Energy announced via WeChat that it has signed a GW-level HJT copper electroplating technology framework cooperation agreement with an undisclosed HJT manufacturer. According to the agreement, Sunwell New Energy will supply the total metallization solution based on plating, including equipment supply, installation, commissioning and the process.
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