China Energy Engineering Corporation (CEEC) announced the shortlisted candidates for its 2024 annual PV inverter procurement. Sungrow, Huawei, and Sineng each secured top candidate positions in two out of the six tender segments, which total 15 GW of PV inverters. Other companies, including Growatt, Kstar, and TBEA, were also listed among the candidates.
Solar glass manufacturer Xinyi Solar generated revenue in the first half of 2024 of HKD 12.69 billion ($1.624 billion), up by 4.5% compared to last year’s first half revenues of HKD 12.14 billion. Profit improved by 41.0% to reach HKD 1.96 billion compared to HKD 1.39 billion in the same period last year. Its solar glass sales volume increased by 12.2% year-on-year. The company said that despite the decreasing average selling prices, it was able to generate positive results due to its high sales volume, production efficiency, and reduced costs for certain raw materials and energy. Looking at its market, Xinyi Solar said that the shift from P-type to N-type cell technology has further increased the penetration rate of the double-glass modules, making thin glass with 2.0 mm thickness the dominant product in the market, with a market share above traditional 3.2 mm glass, however the premium that thinner glass products had has “almost disappeared”. Its melting capacity as of 30 June 2024 amounted to 29,000 tons per day, of which 27,000 tons were in operation and 2,000 ton/day were under cold repair.
Arctech Solar announced that it received approval from the Shanghai Stock Exchange's listing review center for its private placement plan. Initially submitted in April 2024, the plan allows Arctech Solar to raise up to CNY 1.1 billion. After deducting issuance costs, the funds will be allocated to expand the production capacity of parallel drive PV tracking systems, tracking support production and verification bases, a photovoltaic ancillary industry park, a research laboratory, and supplement working capital. SDIC Securities is acting as the sponsor for this offering.
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