News in the Photovoltaic Industry
Wopais (Changzhou) Energy Technology Co., Ltd. has been recognized as a national “specialized, refined, characteristic, and innovative” small giant enterprise. This announcement comes from the Ministry of Industry and Information Technology, which released the fifth batch of such enterprises. Notably, Wopais is one of only two Taiwanese companies selected in this latest round.
The term “specialized, refined, characteristic, and innovative” refers to small and medium-sized enterprises that excel in specialization, refinement, and innovation, forming the backbone of high-quality SMEs.
Upcoming IPOs and Challenges
On March 20, Shihang New Energy announced that its application for an initial public offering (IPO) of approximately 41.24 million shares has been approved by the Shenzhen Stock Exchange’s Growth Enterprise Market and has received registration approval from the China Securities Regulatory Commission. The company’s IPO application was accepted on June 16, 2022, and after two rounds of inquiries, it officially received approval on March 31, 2023.
The photovoltaic industry is facing a challenging landscape as the Photovoltaic Association projects a decline in new installations in China for 2025. Industry stakeholders are contemplating what to expect in this evolving market.
Market Trends and Innovations
As the industry transitions into a “consumption-oriented” phase, the ability to effectively manage energy consumption is becoming more crucial than merely generating energy. Photovoltaic professionals who can identify and secure advantageous positions in resource management are likely to emerge as the winners in this competitive environment.
Recent advancements include the launch of the TNC2.0 components by Tongwei, which set new efficiency records. This breakthrough represents a complete cycle of value from experimental phases to mass production, establishing TNC2.0 as a genuine “value creator” in the photovoltaic sector.
Corporate Developments
On March 24, Haiyuan Composite Materials announced a potential change in its controlling shareholder due to ongoing negotiations regarding a share transfer by its major shareholder, Jiangxi Saiwei Electric Group. To protect investor interests, trading of Haiyuan’s shares has been suspended temporarily.
In a remarkable turn of events, Huaxi Energy reported that the entire stake owned by its actual controller has been frozen by judicial authorities, affecting approximately 154 million shares, which is around 13.07% of the company’s total shares.
Financial Results and Future Projects
In its annual report, Yicheng New Energy disclosed a significant loss of 851 million yuan for the year 2024, marking a staggering 1,948.20% decrease in net profits compared to the previous year.
On a more positive note, Qinghai Province is set to begin production on a major photovoltaic project with a total investment of 29.5 billion yuan. The first phase of the project, which has an annual output of 140,000 tons of polysilicon, has already entered trial production.
Additionally, Sichuan Jinlv Energy Technology has completed the main structure for its new facility that will produce 3GW of photovoltaic slices and high-efficiency components, with production expected to commence soon.
Global Ventures and Collaborations
Chinese companies are also expanding their international presence, with Xinyi Glass announcing a $700 million investment to construct a solar glass factory in Egypt, targeting an annual production capacity of 1.5 million tons.
As the industry continues to evolve, it remains crucial for companies to adapt and innovate in order to thrive in the competitive photovoltaic landscape.
