Chinese PV Industry Brief: Daqo could make 125,000 tons of poly this year


Polysilicon manufacturer Daqo has said it expects to have produced 31,000-32,000 metric tons of the solar panel material in the first three months of this year, and will make 120,000-125,000 tons by the end of December. The company last year produced 86,587 tons and sold 75,356. Total revenue for 2021 was US$1.68 billion, for a year-on-year increase of 148.49% over 2020, when turnover had reached US$676 million. The operating profit last year was US$1.1 billion, for a profit margin of 65.4%. In 2020, operating profit had been only US$234 million, and the profit margin 34.6%. Daqo said the increases were due to the strong growth of polysilicon production volumes and sale prices.

Heterojunction module manufacturer Huasun today said it has started importing production equipment for its new 2GW factory in Xuancheng City. The production line was provided by Suzhou-based Maxwell Technology. Huasun has achieved a power conversion efficiency of 25.26% for a heterojunction solar cell. The company is currently operating a 500MW module factory in Xuancheng, in the southeast of Anhui province.

pv magazine print edition

In our latest print edition, pv magazine takes a deep dive into the world of electromobility, with 22 pages of analysis taking in the market growth and expectations for electric vehicles (EVs) worldwide; how electricity networks will need to grow and adapt to make room for the electrification of transport; and the vital role for solar in all of this. We examine the growing trend for residential and commercial EV chargers linked to PV and optimized to make the most of solar kilowatt-hours, and take a look at some of the early movers working on vehicle-integrated PV – from solar sunroofs to full integration in vehicle bodywork. We also consider a range of e-mobility applications, from commercial trucks to family cars to electric bikes and other “last mile” delivery vehicles.

Solar manufacturer Trina Solar today said it has agreed to buy 290 million wafers from Beijing Jingyuntong Technology Co Ltd. The products will be supplied for the rest of the year. Based on the latest wafer price published by Taiwanese data company PV InfoLink, the contract would be worth around RMB2.45 billion (US$388 million). The actual price of the wafers will be determined monthly by the two companies.

Heavily-indebted solar developer Shunfeng International yesterday said details of a shareholder vote to be held to approve the sale of 132MW of solar generation capacity for RMB890 million (US$141 million) to pay down debts, may not be published until the end of this month. Shunfeng, which listed its overdue debts and short-term commitments on Jan. 3, said it would have to find HK$65.6 million (US$8.4 million) for the Hong Kong branch of China Minsheng Banking Corp by the end of this month, on top of the HK$1 billion (US$128 million) and RMB585 million (US$92.7 million) it already owes in overdue payments, some of which date back to November 2019. Shunfeng said it needed more time to finalize details of the sale of the four solar projects, one of which is under a freeze by the Zhejiang Provincial High People’s Court until the developer pays an unspecified sum to engineering, procurement and construction services provider Hunan Province Industrial Equipment Installation Co Ltd, the company said it January. The developer said at the time, another of the farms earmarked for sale could be transferred until Shunfeng handed over RMB10,000 (US$1,580) to an unnamed third party to secure ownership of the 10% of the project business it does not already hold.

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A filing made with the U.S. Securities and Exchange Commission (SEC) on Friday by China-based, New York Stock Exchange-listed solar manufacturer JinkoSolar, stated the company’s main Jiangxi Jinko business unit had posted unaudited revenue of RMB40.5 billion (US$6.42 billion) last year, to result in net income for shareholders of RMB1.12 billion (US$177 million). The SEC noted Jiangxi Jinko does not include the figures for the NYSE-listed parent’s other subsidiaries and said that RMB1.12 billion figure would fall to RMB532 million (US$84.3 million) if, unspecified extraordinary gains were stripped out.

Photovoltaics manufacturer Solargiga on Friday announced a reshuffle, with its Qujing Yangguang Energy Silicon Materials unit buying Jinzhou Youhua Silicon Materials from its Solargiga Energy (Hong Kong) business. Seller Solargiga Energy, which will receive RMB227 million (US$36 million), is a PV product dealer. Jinzhou Youhua and Qujing Yangguang are both solar ingot and wafer makers, with the latter 54% owned by Solargiga.

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