Chinese PV Industry Brief: Daqo’s profits soar by 341%

Polysilicon manufacturerDaqo reported it achieved revenue of CNY 16.3 billion ($2.3 billion) in the first six months of 2022, with a 262.2 increase compared to the same period a year earlier. The company also posted a net profit of CNY 9.53 billion in the first half of the year, up 341% year-on-year. It said the strong performance must be attributed to high polysilicon prices. At the end of June, the manufacturer reached an annual production capacity of 105,000 MT. In the first six months of the year, polysilicon output was 66,700 MT, which accounted for 18.3% of polysilicon demand in China, according to recent figures provided by the China Photovoltaic Industry Association (CPIA). Daqo also said some production lines will have annual maintenance in the second half of the year and estimates the output of polysilicon in Q3 will be 31,000 to 32,000 MTs, and in Q4 will be 31,500 to 34,500 MT.

Chinese property development company Datang Group announced it will build photovoltaic plants totaling 5.58 GW in China this year. These projects are spread across 17 provinces of China. The top 3 provinces are Shaanxi, Hebei and Hunan province, with installation targets of 1.43 GW, 850 MW and 805 MW, respectively.