Chinese language PV Commerce Temporary: Lingda scraps investment in 20 GW photo voltaic cell manufacturing facility
Lingda Neighborhood says it’s dropping plans to make investments in a 20 GW photo voltaic cell manufacturing facility because of the miserable macroeconomic conditions, challenges within the PV trade, financing constraints, and various exterior components.
Vincent Shaw and Valerie Thompson
Image: pv magazine
Lingda Neighborhood has launched its decision to scrap its investment within the advance of Tongling’s 20 GW photo voltaic cell manufacturing incorrect. Firstly, Lingda had deliberate to make investments approximately CNY 9.150 billion ($1.27 billion) in Tongling for the phased constructing of a PV cell manufacturing mission. The first section aimed to establish a 10 GW TOPCon cell manufacturing line, adopted by a 2d section focusing on a 5 GW TOPCon cell line and a 5 GW HJT cell line. Lingda cited negative macroeconomic conditions, challenges within the PV trade, financing constraints, and various exterior components as reasons for terminating the investment mission.
GCL Technology has launched its audited outcomes for the one year to Dec. 31, 2023. Annual income hit CNY 33.7 billion, down from CNY 35.3 billion a one year earlier, because of the lower polysilicon prices. It recorded a profit of CNY 2.51 billion, down from CNY 16.03 billion a one year earlier. The company acknowledged its granular silicon manufacturing web sites in Jiangsu, Internal Mongolia, and Sichuan done corpulent manufacturing capability of 420,000 so much. Individually, it also launched a CNY 680 million portion repurchase thought over the three years to Dec. 31, 2026.
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