Chinese PV Industry Brief: JinkoSolar reports strong H1 earnings

JinkoSolar has reported a net profit of CNY 3.8 billion ($526.6 million) for the first half of 2023, while Maxeon has revealed plans to open a 3 GW TopCON cell and module factory in the United States.

Image: Maxeon

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JinkoSolar has recorded a net profit attributable to shareholders of CNY 3.8 billion for the first half of 2023. Operating income hit CNY 53.6 billion, up 60.52% year on year. PV shipments hit 33.1 GW, including 30.8 GW of modules. N-type module shipments totaled 16.4 GW. The company said it is targeting 70 GW to 75 GW of full-year PV module shipments in 2023. Separately, JinkoSolar also announced a $1.33 billion private placement plan to support a $1.33 billion TOPCon solar factory project in China's Shanxi province.

Maxeon, a subsidiary of TCL Zhonghuan, has chosen Albuquerque, New Mexico, as the site of its first US solar factory. It plans to invest $1 billion in a state-of-the-art, 3 GW solar cell and module facility, with a focus on TOPCon cells. Construction is set to begin in the first quarter of 2024, with production to start in 2025.

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Solargiga Energy Holdings has reported a net profit of approximately CNY 90 million to CNY 110 million for the first half of this year, from CNY 68 million in the first six months of 2022. It attributed the performance improvement to robust external demand for its PV modules and enhanced high-efficiency production capacity, leading to economies of scale.

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