On April 4, CNC announced that it planned to invest 5 billion yuan to build an annual output of 16GW photovoltaic modules in Jiangyin Lingang Economic Development Zone. The project is divided into two phases of implementation. The first phase is the construction of 5G W photovoltaic module project, which will be launched in the near future and is expected to be put into operation in the third quarter of 2023. The second phase is the construction of 11 GW photovoltaic module project, the construction time is not yet clear.
From "selling shovels" to "panning for gold" to rapidly promote the extension
of the industrial chain, known as "Xiaolongji", CNC was established in 2002, positioned as a state-level specialized new enterprise in the field of high-end intelligent equipment manufacturing and photovoltaic silicon product supply, and has been deeply engaged in the photovoltaic slicing equipment industry for more than 20 years. It is mainly engaged in the manufacture of special processing equipment for crystalline silicon, and has formed a complete product line for the production of photovoltaic silicon wafers. Since 2019,
the company has invested in the construction of photovoltaic monocrystalline silicon production capacity. In 2022, the Company shipped 31.18 GW monocrystalline silicon wafers, representing an increase of 79.09% as compared with the shipment of 17.41 GW monocrystalline silicon wafers in 2021. By the end of last year, the Company had 35 GW monocrystalline silicon production capacity, and the monocrystalline silicon business has become the core business of the Company. After the 16GW photovoltaic module project
in Jiangyin is put into operation, CNC will complement the last link of the photovoltaic industry chain, the component end. In this way, a closed-loop pattern of "silicon material-silicon wafer-battery-component" industrial chain integration has been formed.
From 2019 to 2021, the sales revenue of CNC silicon wafers was 253 million yuan, 2.73 billion yuan and 10.753 billion yuan respectively, accounting for 98.52% by 2021. CNC
is keenly aware of the risk of relying too much on silicon wafer business for revenue, and is determined to continuously extend upstream and downstream investment on the basis of the original monocrystalline silicon business, and to lay out the business of silicon materials and solar cells. In February
2022, the company disclosed the Announcement on Investment in the Construction of a Project with an Annual Output of 150,000 Tons of High-Purity Industrial Silicon and 100,000 Tons of High-Purity Crystalline Silicon. It is planned to invest 11.8 billion yuan in Guyang County, Baotou City, Inner Mongolia to build a production project with an annual output of 150000 tons of high-purity industrial silicon and 100000 tons of high-purity crystalline silicon. In June
2022, the company announced that it planned to invest about 14.8 billion yuan to build an annual output of 40 GW monocrystalline silicon pulling and related supporting production projects in Baotou, of which the first phase is to build 20 GW monocrystalline silicon production capacity, which is expected to reach production capacity in 2023. In August
2022, the company disclosed the Announcement on Investment and Construction of Xuzhou New Energy Industrial Park. It is planned to invest in the construction of a new energy industrial park in Xuzhou Economic and Technological Development Zone, including the annual production of 25 GW monocrystalline silicon slices and 24 GWN-type high-efficiency crystalline silicon batteries. The total investment is estimated to be 15 billion yuan.
It is understood that the construction of Baotou Silicon Material Project and Xuzhou Battery Project is progressing smoothly, and the above projects are expected to be put into operation in the second quarter of 2023.
So far, CNC has formed an industrial chain system including silicon materials, monocrystalline silicon wafers and solar cells.
However, CNC did not stop there, but proposed to further extend the new industrial chain and build photovoltaic module production projects on the basis of the original business scale. CNC
said that the photovoltaic module project to be invested is the downstream business of the solar cell industry chain. The project is divided into two phases of implementation. The first phase is the construction of 5G W photovoltaic module project, which will be launched in the near future and is expected to be put into operation in the third quarter of 2023. The second phase is the construction of 11 GW photovoltaic module project, the construction time is not yet clear.
When the module capacity construction is completed, the capacity layout of CNC will cover the four main links of silicon material, silicon wafer, battery and module in the photovoltaic industry chain, forming an integrated pattern of the industry chain.
In addition to the layout of the whole industry chain in terms of production capacity, CNC has also carried out a further comprehensive brand transformation plan. In March
2023, Shanghai CNC announced that the company's name would be changed to Hongyuan Green Energy Co., Ltd . CNC
said that according to the company's current business and strategic planning, the company has gradually moved from equipment manufacturing enterprises to photovoltaic industry chain integration enterprises, the current company name has not fully matched the company's main business, in order to make the company's name more in line with the actual situation, further enhance the company's brand competitiveness and coordination system. After study, the company decided to change its name. The decision to
change the company's name reveals the ambition of CNC's development in the photovoltaic field.
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