Chinese PV Industry Brief: Xinyi Solar projects steep profit decline in 2024
Xinyi Solar said it expects a 70% to 80% profit decline for the year ending Dec. 31, 2024, compared to the CNY 3.84 billion ($526.7 million) profitit recorded in fiscal 2023, citing unaudited results. The company attributed the anticipated decrease to low market prices caused by a demand-supply imbalance, higher costs from plant suspensions, and inventory writedowns. In a separate announcement, Xinyi Solar renewed contracts with Xinyi Glass to supply silica sand for float glass production and said that Anhui Xinyi Machinery, majority-owned by Xinyi Glass, will supply production equipment from January to December 2025, for up to CNY 168.8 million.
TBEA said that its Xinte Energy subsidiary has withdrawn its application for an initial public offering on the Shanghai Stock Exchange. It said the decision follows extensive talks with its sponsor and a review of market conditions. This marks a significant setback for Xinte Energy, a major producer of polysilicon materials, in its bid to go public in China.
Chint Group has announced plans to divest its residential solar assets to third-party investors, including major energy state-owned enterprises and financial institutions. The company plan to sell up to 14 GW of installed solar capacity, with the sales window set from Jan. 1, 2025, to Dec. 31, 2025.
Irico Group New Energy said that its Hefei Photovoltaic subsidiary will renew a lease equipment agreement with Shaanxi Rainbow Industrial Intelligent Technology. It will lease industrial power equipment, such as 110 kV GIS, main transformers, integrated automation systems, high-voltage switch cabinets, transformers, cables and capacitors for a term of three years starting Dec. 30, 2024, to Dec. 29, 2027, at a monthly rental of CNY 373,946, including tax.
Xiamen Tungsten said its board has decided to allocate CNY 400 million in funds raised from its capital market activities to its controlling subsidiary, Xiamen Honglu Tungsten Molybdenum Industrial. The investment will be used to expand the company’s production capacity for its photovoltaic tungsten wire manufacturing line, as part of the “100 billion Meter Photovoltaic Tungsten Wire Production Line Construction Project.”
Levima Advanced Materials said its plan to issue A-shares to raise funds has been terminated by the Shenzhen Stock Exchange. The proposal, originally filed in August 2024, aimed to raise up to CNY 2.02 billion to support the expansion of its production lines for EVA, a key material used in photovoltaic module encapsulants, along with other renewable energy materials and biodegradable projects.
Customized/OEM/ODM Service
HomSolar Supports Lifepo4 battery pack customization/OEM/ODM service, welcome to contact us and tell us your needs.
HomSolar: Your One-stop LiFePO4 Battery Pack & ESS Solution Manufacturer
Our line of LiFePO4 (LFP) batteries offer a solution to demanding applications that require a lighter weight, longer life, and higher capacity battery. Features include advanced battery management systems (BMS), Bluetooth® communication and active intelligent monitoring.
Customised Lithium Iron Phosphate Battery Casing
ABS plastic housing, aluminium housing, stainless steel housing and iron housing are available, and can also be designed and customised according to your needs.
HomSolar Smart BMS
Intelligent Battery Management System for HomSolar Energy Storage System. Bluetooth, temperature sensor, LCD display, CAN interface, UART interface also available.
Terminals & Plugs Can Be Customized
A wide range of terminals and plugs can be customised to suit the application needs of your battery products.
Well-designed Solutions for Energy Storage Systems
We will design the perfect energy storage system solution according to your needs, so that you can easily solve the specific industry applications of battery products.
About Our Battery Cells
Our energy storage system products use brand new grade A LiFePO4 cells with a battery lifespan of more than 4,000 charge/discharge cycles.
Applications in Different Industries
We supply customized & OEM battery pack, assemble cells with wiring, fuse and plastic cover, all the cell wires connected to PCB plug or built BMS.
Applications: E-bike, Electric Scooter, Golf Carts, RV, Electric Wheelchair, Electric Tools, Robot Cleaner, Robot Sweeper, Solar Energy Storage System, Emergency Light, Solar Power Light, Medical Equipment, UPS Backup Power Supply.
We can provide you with customized services. We have the ability to provide a vertical supply chain, from single cells to pack/module and to a complete power solution with BMS, etc.
HomSolar (Shenzhen) Technology Co., Ltd
