China Securities has revised its forecast for China's PV installations in 2024, projecting 260 GW to 280 GW of new capacity this year. This would be a significant increase from the 217 GW installed in 2023, and surpassing China Securities' previous call for 230 GW. In March, the China Photovoltaic Industry Association (CPIA) predicted a range of 190 GW to 210 GW of new capacity in 2024.
Jolywood said it will terminate a planned polysilicon project in Gujiao, Shanxi province, originally aimed at establishing an annual production capacity of 200,000 tons of silicon metal and 100,000 tons of solar-grade polysilicon, with a total investment of CNY 14 billion. It said the decision follows a reassessment of the project's feasibility due to significant changes in the PV market environment. The company also said it recorded 28.01% year-on-year increase in revenue to CNY 12.3 billion and a 31.18% year-on-year jump in net profit to CNY 527 million for fiscal 2023.
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