JA Solar reported a net loss of CNY874 million ($123.3 million) for the first half of 2024, while Tongwei posted a loss of CNY3.13 billion. TCL Zhonghuan and GCL Technology also posted losses of CNY3.06 billion and CNY1.48 billion, respectively.
YES solar energy has reported an 8.54% year-on-year revenue decline to CNY37.36 billion for the first half of 2024, with a net loss of CNY874 million. It shipped 38 GW of PV modules, of which 1 GW was for internal use. The company said it expects to reach a production capacity of 80 GW for monocrystalline silicon wafers and cells and 100 GW for modules by the end of this year, with an n-type cell capacity of 57 GW. It noted that it invested CNY 1.96 billion in research and development during the January-June period and now has 1,827 effective patents.
Tongwei said revenue fell 40.87% year-on-year to CNY 43.80 billion in the first half of 2024, for a net loss of CNY 3.13 billion. The solar business generated CNY29.22 billion in 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 rose to 18.67 GW. The company said it installed 320 MW of new solar projects over the period, bringing its total installed capacity to 4.39 GW. At the end of June, Tongwei’s annual polysilicon capacity exceeded 650,000 tons, with a solar cell capacity of 95 GW and a module capacity of 75 GW. It said its 200,000-ton silicon project in Baotou, Inner Mongolia, will begin production at the end of this year, bringing its total polysilicon capacity to 850,000 tons.
GCL technology said revenue fell 57.7% year-on-year to CNY8.86 billion in the six months ended June 30. The company also reported a net loss of CNY1.48 billion, reversing last year’s profit of CNY5.52 billion. The company says it plans to continue developing innovative granular silicon and perovskite technologies, in addition to advancing upstream manufacturing integration.
TCL Zhonghuan said it posted a net loss of CNY3.06 billion in the first half of 2024, with revenue falling 53.54% year-on-year to CNY16.21 billion. Selling expenses rose 18.25% to CNY217 million, while management expenses rose 20.55% to CNY600 million, the company said. It noted that R&D costs rose to CNY531 million, down 70.72% from the previous year.
Chinese resource power has announced its third wave of PV module tenders for 2024, with plans to procure 1 GW of PV modules in two segments. The first tranche requires 700 MW of n-type bifacial double-glazed modules, with a power of 610 Wp. The second segment includes 300 MW of n-type bifacial double-glazed modules with a power of 580 Wp. Bidding is scheduled to start on September 24, 2024.
Gansu Power Investment Group said construction has officially begun on the first phase of its 6 GW renewable energy project in the Tengger Desert. The CNY30 billion facility will generate 12 TWh of electricity per year, with 3 GW of wind capacity, 3 GW of solar power and 900 MW/3,600 MWh of energy storage. The first phase includes a 3 GW solar project in Jiuduntan, Liangzhou, Gansu Province.
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