Just how did the top 6 solar module business fare in H1 2022?
- The leading international module firms have actually launched their acting reports of the year that show their performance against the backdrop of a PV market pestered by supply chain challenges, rising product and component expenses as well as fraught worldwide connections.
With the application of numerous worldwide favourable policies, both in China as well as abroad, the whole sector is increase while business are simultaneously targeting growth in neighborhood and also worldwide markets.
On 26 August, complying with publication of JinkoSolar's financial reports, the shipment rankings for H1 2022 of the globe's largest module manufacturers were updated. JinkoSolar, TrinaSolar, LONGi Green Energy, JA Solar, CSI Solar, and also Risen Energy were placed the leading six for global modules shipments.
After additionally achieving first place in Q1 with 8.031 GW of shipment volume, JinkoSolar continued to make good progression in Q2 and got to 18.21 GW in H1 altogether, taking top place out of the business listed above.
TrinaSolar remained in second with 18.05 GW of module shipments in H1, followed by LONGi Green Energy, rated 3rd with 18.02 GW of modules delivered. Next came JA Solar, Canadian Solar, as well as Risen Energy. Risen Energy's report has not been introduced. Nevertheless, according to PV Tech's research, it is anticipated to get to 7GW.
|Rank||Company||H1 2019||H1 2020||H1 2021||H1 2022|
Shipment rankings (in GW) of mainstream module makers in H1 from 2019-2022
JinkoSolar's H1 module shipments expanded significantly higher than formerly anticipated, getting to 18.21 GW, creating a new half-year shipment record. The company additionally shipped 710MW of various other PV products.
The report showed that in H1, the firm's year-on-year (YoY) efficiency boosted substantially, achieving an operating revenue of RMB33.407 billion (US$ 4.84 billion), up by 112.44% YoY. Net profit attributable to shareholders reached RMB905 million (US$ 131 million), with a YoY rise of 60.14%, while operating cash flow got to RMB2.23 billion (US$ 320 million), up by 481% YoY.
JinkoSolar has been accelerating as well as optimising its vertical combination for the past 2 years. It has been reinforcing its supply chain by increasing its production capacity for cells, modules and silicon wafers. Forecasts reveal that by the end of 2022 the company's wafer, cell and module capacity will reach 55GW, 55GW as well as 60GW, specifically.
At the same time, the company is investing heavily in TOPCon cell modern technology manufacturing. Its n-type Tiger Neo module has actually been popular out there, with the business securing large orders and also producing solid revenue development.
JinkoSolar's full-year shipment forecast for 2022 is between 35GW and 40GW. The business's management stated that it has solid self-confidence in that guidance, while continuing to move continuously towards the 10GW n-type product shipment objective.
In H1, Trina Solar achieved a revenue of RMB35.731 billion (US5.17 billion), up by 77% YoY. Net profit attributable to the parent firm was RMB1.27 billion (US$ 180 million), up by 79.85% YoY, while non-net profit attributable to the parent company was RMB1.151 billion (US$ 170 million), up by 97.06% YoY. Basic earnings per share were RMB0.6.
The company delivered 18.05 GW of PV items in H1, among which shipments for its dispersed PV organization went beyond 2.2 GW. At the end of H1, it had more than 1,500 dealership companions.
While achieving strong shipment results, being available in 2nd behind just Jinko, Trina Solar likewise revealed that, with the development of commercial capacity as well as technical development, PV item rates are gradually reducing and companies are dealing with a lot more strong competitors in expense control and also product performance.
According to a divulged company plan, the company is going to reach an annual capacity of 50GW for cells and also 65GW for modules by the end of 2022, amongst which large-size 210 module capacity will certainly account for more than 90%. Its 2022 module shipment target is 43GW (including self-use).
PV Tech has likewise discovered that Trina Solar is pushing in advance with the construct out of n-type innovation. All of its new manufacturing capacity in the vertically incorporated PV industrial park in Xining, Qinghai Province, adopts the new generation n-type technology based upon 210/210R items. The website consists of assembly line with annual result of 300,000 MT of commercial silicon, 150,000 MT of high-purity polysilicon, 35GW of mono silicon, 10GW of slices, 10GW of cells, 10GW of modules and 15GW of module sustaining materials. Among them, a phase I ingot pulling and slicing project is expected to be taken into production in Q1 2023.
2022 estimate of production capacity of each business (in GWs).
LONGi Green Energy
LONGi Green Energy achieved an operating revenue of RMB50.417 billion (US$ 7.3 billion) in H1, a YoY rise of 43.64%. Its net profit was RMB6.48 billion (US$ 940 million), up by 29.79% YoY, amongst which the net profit subtracted from non-recurring gains as well as losses attributable to shareholders was RMB6.405 billion, up by 30.58% YoY.
LONGi Green Energy Shipped 39.62 GW of mono silicon wafers, of which 20.15 GW was for sales and 19.47 GW for self-use. The shipments of mono modules was 18.02 GW. Of this, 17.70 GW (including 87.35 MW of BIPV modules) was for sales as well as 0.32 GW was for self-use, as formerly reported by PV Tech.
By the end of 2022, LONGi plans to achieve 150GW of silicon wafer, 60GW of cell as well as 85GW of module capacity, respectively. The company anticipates that the annual silicon wafer and module shipments (including self-use) will certainly achieve 90-100GW and 50-60GW specifically.
In its acting report, LONGi released details on its cell modern technology prepares for the very first time. The business is creating HPBC (Hybrid Passivated Back Contact) structured cells, which it claimed would certainly be the modern technology of the future as it branded TOPCon "transitionary". At present, LONGi is giving suitable product, tools and also sustaining material to generate wafers as a technical get as well as mass production assurance for the new cell innovation.
It is disclosed that the firm will get to 30GW of HPBC capacity in H1 following year, as well as 25GW of shipments for the whole year. HPBC cells and also modules will certainly be preferable for dispersed PV power stations. At the same time, LONGi has actually taken the entire of its supply chain into Inner Mongolia for the first time, consisting of an annual 46GW of mono silicon ingots and also slices, 30GW high-efficiency mono cell project as well as a 5GW module project in Ordos Zero-carbon Industrial Park.
According to JA Solar's interim report, the company achieved an operating revenue of RMB28.469 billion (US$ 4.12 billion) in H1, an increase of 75.81% compared with the exact same period in 2015. Net profit attributable to shareholders had to do with RMB1.702 billion (US$ 250 million), up by 138.64% from a year previously.
The business's cell as well as module shipments reached 15.67 GW, of which abroad module shipments accounted for concerning 67%, as well as the dispersed module shipments made up roughly 39%.
According to its company plan, JA Solar's module production capacity will certainly go beyond 50GW by the end of 2022 and also 75GW by the end of 2023. The business's n-type capacity design has been sped up. Presently, the n-type cell capacity incomplete consists of greater than 7GW in Ningjin, 10GW in Yangzhou and 10GW in Qujing. Its full-year module shipment target is 35-40GW.
It is worth mentioning that while expanding and enhancing its supply chain for wafers, cells and also modules, the business is likewise boosting its investment in the research and development of new PV materials (equipment as well as sustaining products) as well as the development of clever energy.
CSI Solar's H1 revenue was US$ 3.564 billion (RMB24.458 billion). Its net profit was US$ 86.339 million (RMB592 million) as well as its module shipments totalled 8.69 GW.
Amongst them, 3.63 GW of modules were delivered in Q1 as well as 156MW were made use of for the firm's own utility-scale solar projects. 5.06 GW of modules were shipped in Q2, with 126MW maintained for self-use.
In terms of shipments, there is a significant gap in between CSI Solar and the previous four firms. Currently, the spin-off and listing of CSI Solar onto the Shanghai Stock Exchange is advancing gradually and also is under enrollment with the China Securities Regulatory Commission.
CSI Solar's silicon ingot, slice, cell and also module production capacity are expected to get to 20GW, 20GW, 19.8 GW and also 32GW respectively by December 2022. It has actually simply disclosed plans for a US$ 9 billion polysilicon, cell as well as module manufacturing facility in China as it eyes a shift to greater control of upstream supply.
In addition to its module making segment, CSI Solar's PV plants and also energy storage services produced good earnings. The get of PV projects got to concerning 26GW, of which 1.3 GW was unfinished and 4GW was sealed by power acquisition contracts (PPAs). The scale of energy storage projects was also substantial, reaching 31GWh. Out of these, 3GWh are incomplete or have actually secured PPAs.
CSI Solar elevated its 2022 performance standard as well as currently anticipates a full-year revenue to be between US$ 7.5 billion and also US$ 8 billion (RMB51.46 billion to RMB54.9 billion), compared with its previous target of US$ 7 billion to US$ 7.5 billion. The company additionally anticipates the overall module shipments to range from 20 to 22GW, overall cell storage space shipments to range from 1.8 to 1.9 GWh as well as complete project sales to range from 2.1 to 2.6 GW.