新股消息 | 中润光能再度递表港交所 2024年光伏电池对外出货量在全球光伏电池制造商中排名第二

Core Viewpoint - Jiangsu Zhongrun Solar Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with CITIC Construction Investment International and CITIC Securities as joint sponsors. The company previously filed its application on March 13, 2025 [1]. Company Overview - Zhongrun Solar is a specialized manufacturer of photovoltaic (PV) cells, focusing on the production and sales of N-type and P-type PV cells. The company has vertically expanded into the PV module industry [3]. - The company operates in over 32 countries and regions, serving more than 1,000 customers. It ranks second among global PV cell manufacturers with a market share of 14.6% in 2024, and holds an 18.3% market share among specialized PV cell manufacturers [3]. Production and Sales - The company has production bases in China and Southeast Asia, with plans to expand its global footprint by establishing new overseas production bases. The target customers for domestic production are primarily from China and India, while overseas bases focus on international markets [3]. - The production output from the Southeast Asia PV cell and module base has been a significant growth driver, with production volumes of 0.8 GW, 4.5 GW, and 7.0 GW for the years 2023, 2024, and the first half of 2025, respectively, accounting for 2.0%, 12.3%, and 35.7% of the company's total PV cell production during those periods [4]. Financial Performance - The company's PV cell sales for the years 2022, 2023, 2024, and the first half of 2025 were 13.2 GW, 34.9 GW, 34.5 GW, and 19.4 GW, respectively. The revenue generated from PV cell business during these years was approximately RMB 11.578 billion, RMB 18.967 billion, RMB 9.179 billion, and RMB 6.311 billion, representing 92.5%, 91.0%, 81.1%, and 84.6% of total revenue for the respective periods [5]. - The company's total revenue for the fiscal years 2022, 2023, 2024, and the first half of 2025 was approximately RMB 12.517 billion, RMB 20.838 billion, RMB 11.320 billion, and RMB 5.903 billion, with net profits of RMB 834 million, RMB 1.681 billion, a loss of RMB 1.363 billion, and a loss of RMB 744.9 million for the same periods [5][6].