Recent Developments in New Energy Sector
After a hiatus of nearly a year and a half, Hua Dian New Energy has made significant progress with its 180 billion IPO. The company has faced challenges, including two consecutive quarters of losses.
Flaite reported a sharp decline in net profits for 2024, with a decrease of 60% compared to the previous year, alongside a 13.20% drop in operating revenue, totaling 186.83 billion yuan.
Xinbo Co., Ltd. also reported a decline in net profit for 2024, which fell to 1.68 billion yuan, despite an increase in revenue to 85.72 billion yuan, marking a growth of 25.67%. This was largely attributed to a decrease in the gross profit margin for its photovoltaic business.
In response to significant losses, executives from Tongwei Co., Ltd., Daqo New Energy, JA Solar Technology, and LONGi Green Energy have come under scrutiny regarding potential salary reductions.
Innovative Developments in Energy Storage and Hydrogen
Huabao New Energy recently introduced the new generation outdoor power supply, 3000 Pro 2, which aims to redefine energy density limits in the portable energy sector.
During a summit, Huabao New Energy discussed the concept of zero-carbon living, emphasizing how integrating photovoltaic tiles and energy storage devices into homes is transforming the relationship between individuals and energy.
Battery Procurement and Industry Growth
Taoke New Energy signed a procurement contract with CATL for 300 MWh of battery capacity for its energy storage projects in Japan, showcasing the collaborative efforts in advancing energy storage solutions.
Hydrogen Energy is rapidly emerging as a pivotal force in reshaping the energy landscape, especially with its potential to contribute to sustainable development. Qingtong Energy is innovating through a “chain master” model to drive high-quality industry development.
Recent Events in Energy Sector
The 2024 Gansu Lithium Battery New Energy Industry Innovation Development Conference successfully took place, highlighting advancements in the lithium battery sector.
Yiwei Lithium Energy celebrated the successful installation of equipment at its new factory in Malaysia, indicating a push towards global collaboration in battery production.
Additionally, New Energy An launched its latest cylindrical lithium battery, JP30, emphasizing its lightweight design and powerful performance.
Geothermal and Biomass Developments
In geothermal energy, drilling projects in Jiangsu are advancing, with significant exploration efforts underway to tap into hot rock resources.
Meanwhile, the biomass energy sector is gaining momentum, with experts calling for enhanced strategies to leverage biomass as a component of the global carbon neutrality initiatives.
Upcoming Events
The 2024 Seventh Asian Offshore Wind Energy Conference is set to showcase the comprehensive offshore energy industry chain, furthering discussions on wind energy advancements.
Overall, the new energy sector is witnessing a dynamic shift, with companies innovating and adapting to market demands while facing challenges in profitability and sustainability.
