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.
