Leascend(SZ:300051)2024-06-06 12:26Group 1: Company Overview and Project Planning - In 2023, the company began to layout the photovoltaic solar cell industry, focusing on the production and research of third-generation heterojunction (HJT) cells, which have high conversion efficiency and good market prospects [2] - The company has planned two production bases: one in Meishan with a total capacity of 8GW and another in Nantong, Jiangsu, with a planned capacity of 12GW [2][3] - The Meishan base started construction on January 28, 2023, and the first cell was produced on August 22, 2023, marking the gradual release of photovoltaic capacity [2][3] Group 2: Production Capacity and Technology - The Meishan base covers an area of 387 acres and is equipped with production lines from Suzhou Maike Technology Co., Ltd. (1.8GW) and Fujian Jinshi Energy Co., Ltd. (2GW) [3] - The company’s HJT products feature a shorter process flow, higher power generation, lower degradation rates, and higher conversion efficiency, with an average output exceeding 25W compared to TOPCon cells [3] - The current production specification for silicon wafers is 110um, and future advancements in HJT technology are expected to further enhance competitiveness [3] Group 3: Sales and Market Dynamics - In 2023, the company produced 195.58MW of battery cells and achieved sales of 99.1MW, with a gradual release of production capacity [4] - The first quarter of 2023 saw a decline in product prices across the photovoltaic industry, but the company anticipates a recovery in capacity utilization due to contracts signed with Guosheng Technology and Anhui Huasheng for 700MW and 1GW of battery cells [4] - The market demand for HJT components is expected to increase, with independent bidding segments for HJT components being established by major groups such as Huaneng and Datang [4]