Aiko Solar announced yesterday about the investment agreement for the 30 GW new high-efficiency solar module project with the Yiwu Economic and Technological Development Zone Management Committee, which approved by the shareholders’ meeting held on May 4.
The project was invested with CNY 10.6 billion yuan (including working capital), of which the fixed assets is CNY 5.6 billion yuan. The construction will be finished within three years in two phases.
On April 21, the company also planned to build a 30 GW high-efficiency crystalline silicon solar cell and its supporting 30 GW module project in Jinan City, Shandong Province, with a total investment of CNY 36 billion yuan. The project will be constructed within five years in three phases.
The company also revealed on April 10 to invest a total of 18.5 GW solar cells and 55 GW of modules, totaling CNY 29.961 billion yuan.
Benefiting from the rapid increase in global demand for solar power generation, Aiko Solar achieved a performance explosion in 2022.
According to its 2022 annual report, the company achieved a revenue of CNY 35.075 billion yuan for the entire year, an increase of 126.72% year-on-year, with net profit increased significantly to CNY 2.328 billion yuan. Specifically, during the period, the company achieved cell sales of 34.42 GW, up 82.65%.
According to the first quarter report for 2023 released by the company, it achieved a revenue of CNY 7.745 billion yuan, down 1.04%, with net profit of CNY 702 million yuan, up 208.78%. The main reason for the significant increase resulted from the decrease in raw material prices, the continuous improvement of the company’s production cost reduction, and the optimization of its production capacity structure.
