L R AS Published on Saturday 10 February 2024 - n° 475 - Categories:Chinese company, panels

Type N panels were sold at a much higher profit than type P panels.

China's GCL System Integration estimates that its 2023 turnover will have increased by 86% thanks to the expansion of its N-type panel production. At the same time, the company has reduced its cell and panel production costs while increasing efficiency.

Net profit is expected to be between $20.8 million and $30.6 million (an increase of 153% to 270% compared with 2022), on sales of between $2.1 billion and $2.4 billion.

2024 is off to a good start, with the award of several major orders


PV Tech of 6 February 2024

Editor's note Clearly, manufacturers have taken advantage of the switch from P- to N-type technology to considerably increase their selling prices and profits. All the panel manufacturers (Jinko Solar, etc.) say that the switch to N-type has boosted their profits. They attribute their improved profit margins to the adoption of the new technology. But the new technology, which requires fine-tuning, adjustments and production losses at the outset, should have led to a deterioration in profitability. So, with the improved productivity of their production lines, Chinese manufacturers are preparing for an era of huge profits that panel buyers will pay for.

Subscribe to the newsletter "Le Fil de l'Actu"...

Most read articles in the last 10 days

Most read articles in the last month