Seize the opportunity of TOPCon photovoltaic cell track, Yijing Optoelectronics plans multiple projects-clevelanddrifters.com

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Seize the opportunity of TOPCon photovoltaic cell track, Yijing Optoelectronics plans multiple projects

time：2023-03-24 01:12:17 source：clevelanddrifters.com author：Technology stocks

Seize the opportunity of TOPCon photovoltaic cell track, Yijing Optoelectronics plans multiple projects

On the evening of September 21, Yijing Optoelectronics announced that the company signed a relevant agreement with the People's Government of Quanjiao County, Chuzhou City, Anhui Province, and plans to build a project with an annual output of 10GW photovoltaic cells, 10GW photovoltaic slices and 10GW photovoltaic modules in the local area. After the project is put into operation, it will help the company to fully grasp the current major development opportunities of N-type photovoltaic products and produce high-efficiency and high-quality products that meet the market demand. Project funding gap The above projects are constructed in three phases. The first phase is a 10GW high-efficiency N-type TOPCon photovoltaic cell project, the second phase is a 10GW photovoltaic slice project, and the third phase is a 10GW photovoltaic module project. Among them, the first phase of the project is planned to be launched in October 2022, completed in April 2023, and put into production within 3 months after the completion and acceptance. The investment amount of the project is about 5 billion yuan. Among them, the investment in fixed assets is about 3.3 billion yuan, and the working capital is about 1.7 billion yuan. The funds come from the company's own funds and self-raised funds. The initial estimated investment amount for the second and third phases of the project is about 5.3 billion yuan. The start-up time and actual investment amount will be determined by the two parties through negotiation based on the follow-up progress. Before the signing of the agreement, Yijing Optoelectronics had done its homework in the early stage. The company's investment team successively went to relevant provinces and cities in China to conduct on-the-spot investigation and research, to understand and compare the investment promotion policies of various places, and to carry out project feasibility analysis. At the same time, the technical research and development team was organized to carry out special research on the latest development of N-type battery technology, and formed a special research report. Yijing Optoelectronics said that the company currently has a TOPCon battery experimental line, and has completed the research and development process of 182mm and 210mm TOPCon battery modules and related product certification. Through the selection and evaluation of TOPCon technology, equipment, investment cost, and plant layout, it believes that the current investment and construction of 10GW is efficient. The N-type TOPCon photovoltaic cell project has the conditions for economic viability and rapid conversion into production capacity. The 5GW high-efficiency solar module project in the East Plant of Yijing Optoelectronics is expected to be put into operation by the end of September, and will form a production capacity scale of 5GW cells + 10GW modules. , the surplus battery products will be sold to the outside world or further support new module production capacity in the future depending on market conditions. As of the end of June, Yijing Optoelectronics had a monetary capital of about 3 billion yuan, and there was a certain capital gap with the above investment projects. The company said that it will make up for it through means including but not limited to bank financing, which is expected to increase the company's asset-liability ratio and increase cash flow pressure. Opportunities and challenges coexist. The main business scope of Yijing Optoelectronics includes ingot/ingot growth, wafer cutting, cell preparation, module packaging, and photovoltaic power generation. Among them, the growth of crystal rods/silicon ingots, wafer cutting, and cell preparation are mainly for the production of photovoltaic modules at the back end of the company. At present, the company has stopped the outdated production capacity of the original silicon rods and silicon wafers according to the market conditions. Whether or not to sell cells and the number of sales is mainly determined and adjusted by the company according to the production of modules, sales orders and market conditions of cells. Therefore, the company's business competition area is mainly in the photovoltaic module market. Yijing Optoelectronics said that after the above projects are put into operation, it will help to further reduce the company's production costs, expand the market share of products, enhance the market competitiveness of the company's products, strengthen the synergy of the company's various production process segments, and promote the company's sustainable and stable operation. have a positive impact on the company's operating performance. Experts said that TOPCon is one of the rapidly developing N-type battery technologies, but its industrialization faces two main problems: first, the limit efficiency is still weaker than that of heterojunction; second, the mass production level is not perfect, mainly reflecting in product yield. Zhao Xiang, a senior analyst at PV Infolink, a third-party photovoltaic analysis agency, predicts that the domestic TOPCon cell product shipments are expected to approach 20GW this year, with a market share of 8%. . Yijing Optoelectronics reminds investors that the company's current main product is still PERC battery modules. The TOPCon battery module products to be invested and constructed this time have not been mass-produced and have not been verified by customers. They are still in the stage of R&D certification, and there are certain uncertainties in subsequent sales. . At the same time, the sales of photovoltaic products are affected by multiple factors such as the macroeconomic situation, industrial policies, and the international trade environment. The company will continue to increase investment in research and development to further achieve product differentiation and improve the cost-effectiveness of photovoltaic products.

(Responsible editor：Hot industry)

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