Xinte Vitality mentioned it expects a web revenue lower for the 12 months ending Dec. 31, 2023, primarily based on its unaudited outcomes. It will likely be within the vary of CNY 4.2 billion ($582.2 million) to CNY4.4 billion, down roughly 67% to 68% in comparison with CNY 13.315 billion for a similar interval in 2022. It attributed the change to decrease common promoting costs of polysilicon, down by 60% in comparison with 2022. The corporate mentioned it recorded a 90% improve in gross sales quantity in comparison with the identical interval in 2022, with full utilization of its polysilicon manufacturing capability.
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 in the manufacturing and gross sales of automation tools. Autowell Singapore is ready to take a position $30.3 million and can safe an 85% stake within the three way partnership, whereas TT Imaginative and prescient will contribute $5.35 million, for a 15% share within the firm. Autowell is understood for its cutting-edge automation programs overlaying the important thing elements of the PV trade chain: rods, wafers, cells, and modules.
GSP Automotive Group, by its holding subsidiary GSP Dongchi, has unveiled plans to put money into a brand new semi-solid lithium iron phosphate battery building venture in Wenzhou, Zhejiang province. The entire funding for this venture is estimated to be round CNY 1.032 billion and can deal with the manufacturing of battery cells and storage programs. Upon completion, its annual manufacturing capability is ready to succeed in roughly 2.1 million battery cells. The merchandise are designed for a variety of functions, together with family power storage, industrial and industrial power storage, in addition to wind and photo voltaic power. The corporate caters to the increasing marketplace for large-scale power storage options.
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