TCL Zhonghuan said it has recorded a net loss of CNY 2.998 billion for the third quarter of 2024, on CNY 6.369 billion of revenue, down 53.7% year on year. It has posted CNY 22.582 billion of year-to-date revenue, down 53.59% from the same period in 2023, and a year-to-date net loss of CNY 6.061 billion. The company attributed its poor performance to ongoing industry-wide supply and demand imbalances, as key segments of the supply chain remain below cost levels.
Maxwell Technologies said its net profit attributable to shareholders rose by 2.87% in the third quarter to CNY 297 million, while revenue jumped 29.47% year on year to CNY 2.898 billion. For the first nine months of 2024, the company reported revenue of CNY 7.767 billion and a net profit of CNY 759 million. It attributed its positive performance to a significant increase in the commissioning of previous orders for solar cell production equipment, which boosted revenues.
Hunan Huamin Holdings reported a net loss of CNY 187.5 million for the nine months to September, from a CNY 115.8 million loss for the same period in 2023. Revenue hit CNY 759.65 million, down 11% from CNY 862.25 million in 2023. The company attributed the decrease in sales and profit to supply and demand imbalances and “increasingly fierce” competition.
China Three Gorges Energy Group has started building a 940 MW PV power project in Meigu County, Sichuan province, with an investment exceeding CNY 3 billion. The project includes a 220 kV substation and a storage facility, with initial grid connections scheduled for 2026. Once operational, the plant is expected to generate 1.376 TWh of clean electricity per year. This initiative is part of the Yangtze River downstream hydropower-solar-wind energy integration base, a key component of China’s 14th Five-Year Plan, which aims for a combined capacity nearing 70 GW. Four large-scale hydropower stations within the base, totaling 46.46 GW of installed capacity, are already operational.
Laplace New Energy has debuted on the Shanghai Stock Exchange’s STAR Market, issuing 40.53 million shares at an initial public offering (IPO) price of CNY 17.58 per share. The company’s total share capital now stands at 405 million shares, with Huatai United Securities as the underwriter. Laplace New Energy specializes in manufacturing high-performance thermal processing and coating equipment for PV cell production and automation solutions.
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