Aiko shares, which bet on ABC (full back contact technology), have gradually surfaced their ABC capacity investment and construction plans in Jinan. On the evening of February 25, Aiko announced that the company held the 23rd meeting of the 9th board of directors on the same dayThe "Proposal on Investing in the Construction of Jinan Phase I with an Annual Output of 10GW of High-efficiency Crystalline Silicon Solar Cells and Modules" was deliberated and approved. The total investment amount of the project is expected to be 997.8 billion yuan, of which 74 were invested in fixed assets9.8 billion yuan, laying the bottom and operating liquidity 24800 million yuan. In April last year, the company announced that it planned to build a 30GW high-efficiency crystalline silicon solar cell project and its supporting 30GW module project in the starting area of new and old kinetic energy conversion in Jinan City in three phasesThe total investment of the project is expected to be 36 billion yuan (including working capital). 
Company announcementIn recent years, Aiko has made every effort to tackle the ABC technology route. In the field of photovoltaics, the N-type era is coming in an all-round way, and BC (various types of back contact cells) is one of the N-type technical routes. Industry insiders saidBC (various types of back contact cells) technology is expected to become the next phenomenal technology iteration, further breaking through the ceiling of cell efficiency. The first phase of the project is expectedThe total investment amount is 997.8 billion yuanOn the evening of February 25, Aiko Co., Ltd. announced that the company held the 23rd meeting of the 9th board of directors on the same day, and deliberated and passed the "Proposal on Investing in the Construction of Jinan Phase I with an Annual Output of 10GW of High-efficiency Crystalline Silicon Solar Cells and Modules". The total investment amount of the project is expected to be 997.8 billion yuan, of which 74 billion was invested in fixed assets9.8 billion yuan, laying the bottom and operating liquidity 24800 million yuan. According to the announcement, the project is the first phase of the "Aiko Solar High-efficiency Cell Module Project Strategic Cooperation Agreement" signed between the company and the people of Jinan City, and Shandong Aiko is responsible for investment, construction, operation and management. The construction period of the project is about 15 months, and it is planned to start construction in the first quarter of 2024 and is expected to be put into operation in the first half of 2025. When the project reaches full production, it will add the world's leading production capacity of 10GW N-type ABC high-efficiency solar cells and 10GW modules. In order to promote the implementation of the project, the company obtained the land use right of the corresponding plot in the Sungeng area of the starting area of new and old kinetic energy conversion in Jinan City through the market open bidding, auction and listing procedures in December 2023, and made preliminary preparations for the implementation of the project in January and February 2024. According to the company, as of the end of September 2023, the company's monetary funds were 488.2 billion yuan, and there is still a certain gap between the total investment amount of the project. The company will raise funds through its own funds (including bills) for daily operations, subsidies, financing from financial institutions and other ways. According to the company's estimation of investment projects, it is estimated that among the funds, the daily operation of its own funds accounts for about 25%-35%, the loans from financial institutions account for about 40%-45%, and the subsidies account for about 25%-30%. Aiko said that after the project is fully put into production, it will add the world's leading 10GW N-type ABC cell and 10GW module production capacity, which is conducive to further strengthening the company's technology and product advantages, optimizing the company's production capacity structure, increasing the company's market share, and consolidating the company's core competitiveness in the field of photovoltaic cells. According to the company's announcement on April 21, 2023, the company signed the "Aiko Solar High-efficiency Cell Module Project Strategic Cooperation Agreement" with the people of Jinan City in April 2023, and plans to build a 30GW high-efficiency crystalline silicon solar cell project and its supporting 30GW module project in the starting area of new and old kinetic energy conversion in Jinan City in three phases, and build 10GW cell and module production capacity in each phase. The total investment of the project is expected to be 36 billion yuan (including working capital), and the total construction period is 5 years. Focus on ABC technology routeAiko has been deeply involved in the photovoltaic field since 2009, and according to the Guohai ** research report, the company is the inventor of tubular PERC technology, leading the last round of PERC technology iteration. At present, the photovoltaic industry is experiencing rapid iteration of technology, and N-type products have achieved rapid penetration in the terminal and become the consensus of industry development. Among them, BC mainly includes IBC, TBC, ABC, etc. In recent years, Aiko has made every effort to tackle the ABC technology route. According to the official WeChat of "Aiko Co., Ltd.", in 2021, the company launched an ABC battery prototype with complete independent intellectual property rights. In 2022, the GW-level factory for ABC batteries will be put into operation from the pilot line to the mass production line. In 2023, the company will further supplement its module production capacity on the basis of cells and achieve sales and shipments of ABC modules in more than 10 countries and regions around the world. Recently, the efficiency of Aiko's ABC module has been improved again. According to the WeChat news of "Aiko Co., Ltd.", on February 5, after TÜV SÜD testing and certification, the conversion efficiency of Aikoh's latest ABC module reached 2515%, breaking the company's own record of 2427% record. While the ABC technology is accelerating and consolidating, the company has been receiving orders recently. According to the WeChat news of "Aiko shares", on January 16, Aiko shares and Tianjin Energy Investment Group officially signed 25GW ABC Module Strategic Cooperation Agreement; On February 1, Aiko Co., Ltd. signed a 100MW ABC module cooperation agreement with Solsol, a well-known Czech photovoltaic distributor, to jointly promote its products to the Czech and Slovak markets. A few days ago, Aiko Co., Ltd. signed an agreement with INSELL, a well-known Polish photovoltaic distributor, to supply its **200MW high bifaciality ABC modules within 3 years. On the evening of January 30, Aiko Co., Ltd. released a performance forecast for 2023, and it is expected that the company's net profit attributable to the parent company in 2023 will be 7$3.5 billion to $77.5 billion yuan, a year-on-year decrease of 6671% to 6843%。"In 2023, with the continuous innovation of N-type technologies such as ABC, TOPCon, and HJT, and technological progress will lead the industry change, the photovoltaic industry chain will be in the downward range as a whole throughout the year, and the industry competition will be particularly fierce in the fourth quarter, and the photovoltaic products will be fast. Aiko said in the performance forecast that the company's main business battery and module products have made provisions for the impairment of fixed assets and inventory declines, which have a greater impact on the performance of the fourth quarter. The company also mentioned the progress of ABC's cell and module business in the earnings forecast. According to the company, during the reporting period, the company steadily and solidly promoted the implementation of N-type ABC cell and module production capacity, and the investment and operation of new production capacity brought an increase in management expenses. The 10GW ABC production capacity of the Zhuhai base has reached production, and the average mass production conversion efficiency has reached 268% or more. At the same time, during the year, the first ABC module products with a bifaciality rate of 70% were launched, and the ABC production capacity of Yiwu base entered the trial production stage. It is expected to become the next phenomenal technology iterationIt is understood that BC, as a platform-based technology, can be combined with P-type, HJT, TOPCON and other technologies to form a variety of technical routes such as HPBC, HBC, TBC and so on. According to the Pacific ** research report, the BC structure has the advantages of frontal unobstruction and passivation layer optimization, and its efficiency is ahead of other crystalline silicon technology routes of the same era. A number of photovoltaic companies have technical layouts for BC cells. TCL CentralMaxeon, a joint-stock company, owns IBC battery technology and patents, and has been accelerating its deployment in recent years. At the LONGi Green Energy performance briefing held in September last year, Zhong Baoshen, chairman of the company, said that in the next 5 to 6 years, BC cells will be the absolute mainstream of crystalline silicon cells, including bifacial and single-sided cells, and a large number of the company's products will take the BC technology route. Last year,LONGi Green EnergyThrow out the plan to expand production capacity. According to the company's announcement on September 19, 2023, the company signed the "Investment Cooperation Agreement on Monocrystalline Cell Project with an Annual Output of 12GW" with the People's Government of Tongchuan City and the Management Committee of Tongchuan New Material Industrial Park on April 8, 2023. The total investment of the project is expected to be 391.5 billion yuan, the project products will use the HPBC Pro high-efficiency battery technology developed by the company. Guohai**It is believed that the application space of BC battery is broad. The BC module's extremely high module efficiency and the shape advantages of no busbar on the front side make it currently obtain a high premium in the niche overseas high-end distribution market. With the vigorous development of distributed installed capacity and the commissioning of domestic leading manufacturers, BC is expected to extend from overseas high-end markets to various distributed markets at home and abroad in the future. In the future, with the increase of bifaciality, BC modules are also expected to expand to ground power stations and continue to open up the installed space. "It is expected that BC technology is expected to become the next phenomenal technology iteration and further break through the cell efficiency ceiling. ”League of Nations**After the introduction of BC technology, the front grid line is removed, light occlusion is reduced, and it can be superimposed with various mainstream mass production crystalline silicon cell technologies. According to the statistics of Infolink Consulting in November 2023, BC's planned production capacity is about 159GW, and the landed production capacity is about 44GW. Reviewer: Xu Jinzhong Editor: Zhang Jing Proofreader: Jiao Yuanyuan Producer: Zhang Nan.
Issued by: Wen Zhaolin