JA Solar has reported a net loss of CNY 874 million ($123.3 million) for the first half of 2024, while Tongwei posted a loss of CNY 3.13 billion. TCL Zhonghuan and GCL Technology also recorded losses of CNY 3.06 billion and CNY 1.48 billion, respectively.
Shenzhen Stock Exchange
Image: Jay Sterling Austin, Wikimedia Commons
JA Solar has reported an 8.54% year-on-year decline in revenue to CNY 37.36 billion for the first half of 2024, with a net loss of CNY 874 million. It shipped 38 GW of PV modules, including 1 GW for internal use. The company said it expects to reach production capacities of 80 GW for monocrystalline silicon wafers and cells, and 100 GW for modules by the end of this year, with n-type cell capacity at 57 GW. It noted that it invested CNY 1.96 billion in R&D in the January-June period, and now holds 1,827 effective patents.
Tongwei said revenue fell 40.87% year on year to CNY 43.80 billion in the first half of 2024, on a net loss of CNY 3.13 billion. Its solar business generated CNY 29.22 billion of revenue, or 66.71% of the total, with a gross margin of 6.03%. Polysilicon sales rose 28.82% to 228,900 tons, and PV module shipments surged to 18.67 GW. The company said that it installed 320 MW of new solar projects during the period, bringing its total installed capacity to 4.39 GW. By the end of June, Tongwei’s annual polysilicon capacity exceeded 650,000 tons, with solar cell capacity at 95 GW and module capacity at 75 GW. It said its 200,000-ton silicon project in Baotou, Inner Mongolia, will start production by the end of this year, bringing total polysilicon capacity to 850,000 tons.
GCL Technology said revenue fell 57.7% year on year to CNY 8.86 billion in the six months to June 30. The company also reported a net loss of CNY 1.48 billion, reversing last year’s profit of CNY 5.52 billion. It said it plans to continue to develop innovative granular silicon and perovskite technologies, in addition to advancing upstream manufacturing integration.
TCL Zhonghuan said it recorded a net loss of CNY 3.06 billion in the first half of 2024, with revenue falling 53.54% year on year to CNY 16.21 billion. Sales expenses rose 18.25% to CNY 217 million, while management expenses increased 20.55% to CNY 600 million, the company said. It noted that R&D costs rose to CNY 531 million, down 70.72% from the previous year.
China Resources Power has announced its third batch of PV module tenders for 2024, with plans to procure 1 GW of PV modules in two segments. The first tranche calls for 700 MW of n-type bifacial double-glass modules, with a power output of 610 Wp. The second segment includes 300 MW of n-type bifacial double-glass modules with 580 Wp of output. Bidding is scheduled to start on Sept. 24, 2024.
Gansu Power Investment Group said that construction has officially started on the first phase of its 6 GW Tengger Desert renewable energy project. The CNY 30 billion installation will generate 12 TWh of electricity per year, with 3 GW of wind capacity, 3 GW of solar, and 900 MW/3,600 MWh of energy storage. The first phase involves a 3 GW solar project in Jiuduntan, Liangzhou, Gansu province.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Source from pv magazine
Disclaimer: The information set forth above is provided by pv-magazine.com independently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products. Alibaba.com expressly disclaims any liability for breaches pertaining to the copyright of content.
