Thursday, July 18, 2024

Longi, Aiko Solar, TCL Zhonghuan, Tongwei to publish H1 losses – pv journal International

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Longi stated it expects a internet lack of CNY 4.8 billion ($660.2 million) within the first half of 2024, whereas Tongwei is bracing for a CNY 3 billion loss. Aiko Solar and TCL Zhonghuan, in the meantime, forecast losses of CNY 2.9 billion and CNY 1.4 billion, respectively.

Several main Chinese PV corporations launched their monetary forecasts this week for the primary half of 2024, indicating widespread losses within the trade.

LONG introduced an anticipated internet loss for shareholders of CNY 4.8 billion ($660.2 million) to CNY 5.5 billion, in comparison with a internet revenue of CNY 9.178 billion in the identical interval in 2023. The firm attributed the anticipated lack of vital value reductions all through the availability chain trade, leading to a listing write-down of CNY 4.5 billion to CNY 4.8 billion.

Tongwei stated it expects a internet lack of roughly CNY 3 billion to CNY 3.3 billion for the primary half of the 12 months, from a internet revenue of CNY 13.27 billion within the first half of 2023. Even regardless of the substantial development of polysilicon materials gross sales, Tongwei’s revenue has decreased considerably because of the decline in costs.

TCL Zhonghuan forecast a internet lack of about CNY 2.9 billion to three.2 billion for the primary half of 2024, in comparison with a internet revenue of CNY 4.54 billion in the identical interval final 12 months. The wafer producer cited a speedy decline within the value of polysilicon materials, wafers, and cell components, which pushed gross sales costs under value ranges within the second quarter and resulted in widespread losses.

Aiko Solar stated it expects a internet lack of CNY 1.4 billion to 2 billion for the primary half of 2024. The again contact know-how specialist stated greater manufacturing prices and elevated advertising prices dragged of revenue, plus vital provisions for stock write-downs.

In the center of this week, 21 PV corporations listed in China revealed their 2024 interim steerage report. In addition to the aforementioned corporations, many of the remaining 16 corporations – together with Shuangliang, JYT, Eging PV, and HY Solar – count on to publish losses.

Earlier this week, JA Solar stated it expects a internet lack of between CNY 800 million and CNY 1.2 billion for the primary half of 2024, up from a CNY 4.8 billion internet revenue within the first six months of final 12 months. The firm attributed the anticipated loss to elevated competitors within the photo voltaic market, leading to continued value declines, lowered gross revenue from core operations, and vital provisions for stock depreciation. Early quarterly reviews confirmed a 22% year-on-year decline in income to CNY 15.971 billion, with a quarterly internet lack of CNY 483 million.

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