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Chinese PV Industry Brief: Mixed financial results for wafer and module makers

Wafer producer Zhonghuan Semiconductor has published the preliminary financial results for the first half of 2021. The company said it expects to achieve revenue of up to RMB 18 billion ($2.79 billion) during the period, with a year-on-year increase of 108%. Net profit is predicted to come in at up to RMB 1.55 billion, which would represent 188% growth over the first six months of 2020. Zhonghuan said the positive performance is due to the expansion of its capacity and strong market demand for 210 mm-sized products. At the end of June, the manufacturer had an annual production capacity of 70 GW.

Shanghai-listed panel maker GCL System Integration said it expects a net loss of up to RMB 270 million in the first half of 2021. The company explained the loss comes from several key factors, including the price hike for polysilicon, the suspension of several large-scale solar projects in China, and a non-recurring loss of around RMB 100 million coming from liabilities related to the sale of PV power plants.

Shanghai-listed silicon wafer manufacturer JYT Corporation reportedly posted a net profit of up to RMB 470 million in the first half of the year, an increase of up to 105% compared to the same period a year earlier. The company currently has an annual production capacity of 8 GW and plans to reach 20 GW by the end of the year.

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Module manufacturer Solargiga yesterday reported an unaudited 12% rise in first-half revenue, from RMB 2.6 billion ($402 million) in January-to-June last year to RMB 2.91 billion ($450 million) this time around, with shipments of solar ingots, wafers and modules up 18% to 3.38 GW.

Chinese solar manufacturer Akcome Tech announced it may incur a net loss of around RMB 70 million for the first six months of 2021. According to its preliminary statement, the negative result was due to the cost rise of upstream components, including wafers and solar cells, and higher prices for supporting materials, such as copper, aluminum, steel and glass.

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Source: pv magazine