Chinese PV Industry Brief: DAS Solar launches IPO

Chinese module maker DAS Solar says it aims to raise $351.7 million through an initial public offering (IPO). It will use the funds to expand its cell and module capacity.

Shenzhen Stock Exchange

Image: Jay Sterling Austin, Wikimedia Commons

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Das Solar has applied to launch an IPO on the Shenzhen Stock Exchange, with Guojin Securities as its sponsor. It aims to raise up to CNY 2.5 billion ($351.7 million) by issuing up to 58,789,573 of A-shares. The funds will support capacity expansion, including 14 GW of N-type TOPCon cell lines and 20 GW of supporting module capacity, as well as replenish working capital.

Longi has announced a strategic partnership with NIO, a major Chinese electric vehicle manufacturer, to collaborate on developing PV-integrated EV charging stations. NIO, known for its extensive network of 21,049 charging stations and 3,594 NIO Power stations in China, has inaugurated the first joint NIO Power station, featuring Longi's HPBC-based Hi-MO X6 solar panels, starting operations on December 23, 2023. With NIO's sales exceeding 160,000 electric vehicles in 2023, it plans to construct more than 1,000 new NIO Power stations and install over 20,000 charging piles in 2024.

SolaX Power Network Technology – whose product portfolio includes PV inverters, energy storage solutions, electric vehicle chargers, and advanced energy management systems – has completed an IPO on the Shanghai Stock Exchange. The company, founded in 2012, employs 2,000 people throughout the world.

Arctech Solar has agreed to supply its SkyWings single-axis trackers for a 400 MW grid-connected solar project in Uzbekistan, with China Energy Engineering Group (CEEC) serving as project manager. It is the first phase of a broader 1 GW project.

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