Last month, China's National Energy Administration released statistics on the national power industry from January to May, showing that photovoltaic installed capacity increased by 158%, and newly installed capacity reached 61.21 GW.
Recently, several photovoltaic companies in China released semi-annual performance forecasts. Two of them were Jinko Solar and JA Solar:
Jinko Solar (SH: 688223) predicted that in the first half of 2023, its net profit will be RMB 3.66 billion to RMB 4.06 billion, up 304.38% to 348.58% YoY. Jinko Solar said that the sharp increase in performance was mainly due to the strong demand in the global market during the reporting period. While the company achieved an increase in photovoltaic module shipments, the proportion of N-type products also continued to increase.
JA Solar (SZ: 002459) predicted that in the first half of 2023, its net profit will be RMB 4.2 billion to 4.9 billion, a year-on-year increase of 146.81%-187.95%. During the reporting period, the market demand for photovoltaic products increase. The company further explored domestic and foreign markets, thus the shipments and revenue of photovoltaic modules increased a lot.
It was easy to see that JA Solar and Jinko Solar both achieved performance growth due to a surge in module shipments. And it was foreseeable that the performance of leading photovoltaic companies will continue to grow this year.
How will the competition about module shipments between leading photovoltaic companies in China develop? The market demand continued to be strong, so who will be the No.1 of module shipments in 2023?
At present, Jinko Solar ranked 1st in 2023H1, with a total shipment of more than 30GW. And it was the only one that reached 30GW.
Ranked 2nd is Trina Solar, whose module shipments were around 27GW-28GW, showing a strongly growth trend. It was because the sales of high-power 210 series photovoltaic products increased significantly compared with the same period last year. As of the Q1 of 2023, the cumulative shipment of 210 modules in the industry has exceeded 120GW, while the cumulative shipments of 210 modules by Trina Solar has exceeded 65GW in the same period, ranking first in the world, with a market share of over 50%. Earlier this month, nine module companies including Trina Solar announced that they had reached a consensus on the size standardization of the new generation of rectangular silicon wafers.
LONGI and JA Solar will compete for the third and fourth place. In 2023H1, LONGi's module shipments exceeded 25GW, and JA Solar's shipments exceeded 24GW.
The fifth place was Canadian Solar, whose shipment in 2023H1 was 14GW. Canadian Solar, which was just listed, previously issued a performance forecast. It was estimated that the net profit from January to June will be RMB 1.688 billion to RMB 2.074 billion, up 270% to 355% YoY.
According to industry sources, Risen Energy temporarily ranked sixth, with an estimated shipment of 11.5 GW. Astroenergy ranked seventh, with an estimated shipments of 11GW.
In 2023H1, although China's photovoltaics encountered many obstacles in exporting, leading photovoltaic companies still maintained rapid growth.
In the second half of 2023, the competition will be more intense. According to the production expansion plans announced by these enterprises, by the end of 2023, the TOP5 enterprises with capacity planning are Trina Solar (95GW), JinkoSolar (90GW), LONGi (85GW), JA Solar (over 80GW), Tongwei (80GW).
But who will be the final champion of the 2023 Module Shipments Ranking?
