Chinese PV Industry Brief: Daqo, Longi note earnings impact of polysilicon prices

Chinese PV Industry Brief: Daqo, Longi note earnings impact of polysilicon prices

Daqo and Longi report that lower polysilicon prices have affected their earnings. Aiko Solar, meanwhile, has announced a 120% year-on-year increase in its net results for the first half, with shipments reaching 18.7 GW.

Image: Daqo New Energy

Daqo New Energy has reported second-quarter revenues of $636.7 million, down from $709.8 million in the first quarter, due to lower average selling prices, offset by higher sales volume. Production increased to 45,306 metric tons (MT) in the second quarter from 33,848 MT in the first quarter, and sales volume rose to 51,550 MT from 25,284 MT in the first quarter. Its total polysilicon nameplate capacity hit 205,000 MT.

Longi reported a total revenue of CNY 64.6 billion ($9.11 billion), marking a 28.26% year-on-year increase. Its net profit hit CNY 9.179 billion, with basic earnings per share at CNY 1.21, up 40.70% year on year. Shipments of silicon wafers and modules surged in the first half. The company said that lower polysilicon prices affected profits.

Aiko Solar has achieved a first-half turnover of CNY 16.48 billion, with a year-on-year increase of 3.09%. Its net profit attributable to shareholders hit CNY 1.31 billion, up 120% from the same period a year earlier. Solar cell and module shipments for the first six months of the year totaled 18.7 GW.

TCL Zhonghuan is seeking to raise CNY 13.8 billion by issuing convertible bonds. It says it will use the funds to expand the capacity of its wafer factory to 35 GW and its TOPCon module manufacturing facility to 25 GW.

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