Chinese PV Industry Brief: Canadian Solar resumes IPO plans

Canadian Solar has resumed plans for an initial public offering in Shanghai, and JA Solar has reported that it shipped 27.1 GW of PV modules in the first nine months of this year. Daqo, meanwhile, has signed a $17.9 billion, long-term polysilicon supply deal with an undisclosed customer.

Canadian Solar has secured approval to resume its plans to list shares in Shanghai, according to the Shanghai Stock Exchange (SSE). The SSE suspended the company’s plans for an initial public offering in late September, but it can now proceed again because the company has submitted unspecified financial information required by the SSE.

Daqo has signed a long-term polysilicon supply agreement with an undisclosed customer. It will provide 432,000 metric tons (MT) of polysilicon to the unnamed buyer from 2023 to 2028. The contract is valued at CNY 130.9 billion ($17.9 billion), based on current polysilicon prices of CNY 303/kg. Daqo posted a net profit of CNY 15.1 billion in the first nine months of 2022, up 237% year on year. It sold 109,500 MT of polysilicon in the January-September period, and expects to produce 30,000 MT to 32,000 MT in the fourth quarter.

JA Solar said it recorded CNY49.3 billion of total revenue in the first three quarters of 2022, up 89% year on year. Its profit attributable to shareholders stood at CNY 3.29 billion, on 27.1 GW of solar panel shipments.

GCL Technology has commissioned a second, 20,000 MT per year stage of its 100,000 MT production site in Leshan, Sichuan province. It now has 100,000 MT of annual production capacity for its less energy-intensive granular silicon product.

Xinte Energy has recorded an unaudited net profit for shareholders of CNY 9.65 billion for the nine months to the end of September. It said it achieved CNY 25.9 billion of operating revenue.

CYBrid, a solar panel backsheet manufacturer, said last week that it has supplied 200 GW of backsheet since it was established in 2008.

This post appeared first on PV Magazine.

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