In other news, JinkoSolar is seeking to raise CNY 10 billion ($1.48 billion) to finance its capacity expansion plans and Trina Solar predicts strong profit growth for the first half of the year.
China Nonferrous Metals Industry Association (CNMIA) has reported that the price of polysilicon remained flat this week at CNY 297 ($44.09) per kilogram. It also revealed that polysilicon output during July was affected by maintenance operations at the factories of three different manufacturers. As a result, output was 5% lower at 58,500 MTs compared to June.
Module manufacturer JinkoSolar announced it will issue convertible bonds worth CNY 10 billion ($1.48 billion) on the Shanghai Stock Exchange’s Sci-Tech Innovation Board. The company said it will use the net proceeds from the bond issuance to expand production capacity. The plan includes 11 GW of n-type solar cell capacity and 26 GW of other cell and module capacity
Panel maker Trina Solar said it expects its profit for the first half of this year to reach up to CNY 1.39 billion ($205.9 million), a 98% increase compared to the same period a year earlier. The manufacturer said the strong performance was due to increased module shipments and sales volume as well as to large market penetration of its 210 mm products. The company’s distributed smart energy business also contributed to the growth of sales and profits, it added.
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