The China Electricity Council, TÜV Rheinland, China General Certification Center (CGC), AIKO, and LONGi jointly released the Back Contact (BC) Solar Technology Development White Paper. It is said to be the ‘world's first’ authoritative report on BC technology.
Consisting of 7 chapters, the White Paper provides an in-depth analysis of: BC technology principles and industrialization pathways; standardization frameworks and third-party validation; core performance advantages (efficiency, reliability, bifaciality); application value across utility, commercial, and residential scenarios; ecosystem development and future trends, etc.
Recently, LONGi’s Jiaxing manufacturing base was recognized as the world’s first Lighthouse Factory + Zero-Carbon Factory in the solar PV industry (see China Solar PV News Snippets).
Drinda Corporation, the parent company of JTPV, has received approval from the Hong Kong Stock Exchange (HKEX) for its listing application. The company will officially start trading on HKEX on May 8, 2025. The global offering consists of 63,432,300 H shares, with the initial price range set between HKD 20.40 and HKD 28.60 per share.
According to the company’s latest prospectus, it plans to use 75% of the funds raised (about HKD 1,075.5 million, ~US$138.6 million) to construct its 5 GW solar cell factory in Oman, which is part of its larger 10 GW manufacturing project. The facility is expected to start commercial production in 2026. The remaining proceeds will be used for the research and development of advanced solar cell technologies, strengthening overseas business, and as supplementary working capital.
Drinda recently reported a nearly 50% YoY decline in its Q1 2025 revenues (see China Solar PV News Snippets).
Diamond wire manufacturer Metron has announced that it plans to set up a new tungsten wire manufacturing project in Baoji, Shaanxi Province, with an estimated investment of RMB 230 million ($31.5 million). It plans to achieve a monthly output of 6 million kilometers of tungsten wire from this plant, increasing the company's total tungsten wire capacity to 7 million km/month upon completion.
Recently, Metron also released its 2024 financial report. The company recorded revenues of RMB 2.27 billion ($311.1 million), down 49.66% year-on-year (YoY). Its net profit attributable to shareholders of RMB 145.52 million ($19.9 million) declined 90.84% YoY. The company cited intense competition and product price reductions as the main causes behind the declines. In 2024, the company sold 121.75 million km of diamond wires, down 5.37% YoY.
Solar paste supplier Fusion Materials has reported FY2024 revenue of RMB 12.29 billion ($1.71 billion) in 2024, up 21.35% YoY. Its net profit attributable to shareholders declined by 5.45% to RMB 418.00 million ($57.3 million). The company's photovoltaic (PV) conductive paste shipments totaled 2,024 tons in 2024, remaining stable compared to 2023. n-Type conductive paste shipments were 1,576 tons, accounting for 77.87% of the company’s total shipments.
Fusion Materials also released its Q1 2025 results, posting revenues of RMB 2.99 billion ($410.1 million), roughly flat YoY. However, its net profit for the period rose 18.24% YoY to RMB 89.65 million ($12.3 million).
Solar cell equipment manufacturer, S.C New Energy, has reported strong results for both FY2024 and Q1 2025. The company’s revenues for the year totaled RMB 18.89 billion ($2.59 billion), up 116.26% YoY. Its net profit attributable to shareholders of RMB 2.76 billion ($ million) was up 69.18% during the period.
For Q1 2025, the company recorded revenues of RMB 4.10 billion ($561.5 million), up 58.95% YoY, while net profit attributable to shareholders rose 22.42% to RMB 708.04 million ($96.9 million).
The company’s solar cell production unit shipments for FY2024 were down 61.85% YoY to 13,006 units. It, however, stated that its delivery of orders and revenue recognition improved during the period, leading to higher revenues. The company cited slower capacity expansion and reduced orders from downstream solar cell manufacturers as the reasons for the lower shipment figures.
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