JinkoSolar has predicted that polysilicon prices will peak prior to the end of September, while Risen, GoodWe, TBEA, and Ginlong have all reported strong first-half increases in revenue.
JinkoSolar has predicted that polysilicon prices will peak prior to the end of September. It said prices rose in the April-June period because of insufficient new manufacturing capacity, pandemic measures, and power rationing, including in Sichuan province, where it has production lines. JinkoSolar was a victim of its success in the next quarter, with adjusted net gain for shareholders of CNY 368 million ($53.3 million) destroyed partly by way of a change in value of convertible bond commitments. Its rising stock price through the quarter meant investors were left with a three-month lack of CNY 623 million, down from the CNY 28.9 million profit in the last window. The mixed trading conditions also have prompted Jinko to improve its manufacturing capacity expansion plans. It now aims to possess 60 GW of annual module lines this season, down from its initial 65 GW target. Cell capacity it’s still likely to hit 55 GW, but wafer output is currently set to attain 55 GW, instead of 60 GW.
Risen said it shipped 5.67 GW of modules in the initial half a year of 2022. It achieved revenue of CNY 12.62 billion, up 51.3% year on year. Net profit soared by 653.6% on the entire year to CNY 504 million. Sales of polysilicon hit CNY 977 million in the initial half, at 4,987 metric tons (MT). Risen said it had a complete PV module capacity of 22.1 GW and a polysilicon capacity of 12,000 MT each year by the finish of June.
GoodWe said its first-half revenue hit CNY 145.2 million, up 33.6% year on year, on a net profit of CNY 54.6 million, down 64.3% on the entire year. The inverter maker sold 233,700 PV inverters in the initial half a year of the entire year. It attributed the sharp reduction in profit to raised semiconductor prices and logistics costs.
TBEA posted CNY 38.8 billion of revenue in the initial half of the entire year, up 72.2% year on year. It recorded a profit of CNY 6.9 billion, up 122.3% from exactly the same period per year earlier. It produced 46,200 MT of polysilicon and sold 47,700 MT, pushing sales revenue from polysilicon up 193.5% year on year to CNY 10.6 billion. TBEA estimates its total polysilicon output will reach 110,000 MT to 120,000 MT this season, and the figure is likely to grow to 240,000 MT to 250,000 MT in 2023.
Ginlong achieved revenue of CNY 2.44 billon in the initial half, up 68% year on year. It recorded a profit of CNY 398 million, up 67.2% year on year. Solar inverters accounted for 74.1% of its total sales. It now includes a total inverter capacity of 770,000 units each year.
TCL is extending its transfer to rooftop solar by 2 yrs, carrying out a successful pilot scheme. The strategy involves TCL installing rooftop PV panels for residential and commercial customers, arranging third-party finance, and dealing directly with customers. The pilot scheme, arranged between TCL Electronics Holdings and parent TCL Holdings, was because of run before end of the year, but will now continue before end of 2024, TCL Electronics said the other day.
Solargiga posted a first-half profit of CNY 67.7 million, up from CNY 61.3 million in the initial half of this past year. Its ingot and wafer operations banked a profit of CNY 112 million in the January-June period. The business said its annual ingot manufacturing capacity will rise from 6.2 GW to 7.4 GW this season, with wafer output set to go up to 7.4 GW, from 4.5 GW at the moment. It said it expects PV module capacity to attain the 1 GW to 8.2 GW range.
Beijing Energy International generated a first-half net profit of CNY 286 million, down from CNY 361 million in January-June 2021. The state-owned renewables developer made no additions to its 97 solar plants through the period and saw the common electricity tariff banked by its solar dominated portfolio fall, year on year, from CNY 0.75 to CNY 0.60. The developer owes CNY 8.3 billion in yuan-denominated debt to creditors within 12 months and CNY 3.37 billion in US dollar commitments.
Shandong Hi-Speed New Energy Group reported a first-half profit of HKD 343 million ($43.7 million), down from HKD 418 million, year on year, from its 2,306 MW solar project portfolio. Revenue fell from HKD 3.02 billion in January-June 2021 to HK$ 2.94 billion in the initial half of this season. The business, formerly referred to as Beijing Enterprises Clean Energy Group, said it really is now exploring hydrogen production.
Flat Glass said the other day that PV products accounted for CNY 1.49 billion of its first-half gross profit. It banked a net profit of CNY 1 billion, down from CBY 1.26 billion in the initial half of this past year. In the initial quarter, Flat Glass completed two 1,200-ton-per-day melting capacity PV glass production lines in Jiaxing, Zhejiang, and cold-repaired a preexisting 600-ton line at exactly the same site. The business financed the move with a convertible bond that raised CNY 3.98 billion and is currently preparing a net CNY 6 billion non-public share issue.
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