Xinte Power said it expects an web income decrease for the yr ending Dec. 31, 2023, primarily based totally on its unaudited outcomes. It can possible be inside the fluctuate of CNY 4.2 billion ($582.2 million) to CNY4.4 billion, down roughly 67% to 68% as compared with CNY 13.315 billion for the same interval in 2022. It attributed the change to decreased widespread selling prices of polysilicon, down by 60% as compared with 2022. The company said it recorded a 90% enhancement in product sales amount as compared with the equivalent interval in 2022, with full utilization of its polysilicon manufacturing functionality.
Autowell has revealed plans for a three-way partnership with TT Imaginative and Prescient Holding Berhad in Malaysia. The wholly owned subsidiary, Autowell (Singapore) Pte. Ltd will spearhead this initiative, specializing within the manufacturing and product sales of automation instruments. Autowell Singapore is able to take a place of $30.3 million and might save an 85% stake inside the three-way partnership, whereas TT Imaginative and Prescient will contribute $5.35 million, for a 15% share inside the agency. Autowell is assumed for its cutting-edge automation strategies masking the essential factor components of the PV commerce chain: rods, wafers, cells, and modules.
GSP Automotive Group, by the use of its holding subsidiary GSP Dongchi, has unveiled plans to spend cash on a model new semi-solid lithium iron phosphate battery constructing endeavor in Wenzhou, Zhejiang province. The general funding for this endeavor is estimated to be round CNY 1.032 billion and can provide consideration to the manufacturing of battery cells and storage strategies. Upon completion, its annual manufacturing functionality is prepared to reach roughly 2.1 million battery cells. The merchandise is designed for a wide range of functions, along with household energy storage, industrial and enterprise energy storage, along with wind and picture voltaic energy. The company caters to the growing market for large-scale energy storage choices.
