The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on February 6, Hainan Junda New Energy Technology Co., Ltd. (abbreviation: Junda New Energy) submitted a listing application to the main board of the Hong Kong Stock Exchange, and Huatai International, CMB International, and Deutsche Bank were its co-sponsors.

According to the prospectus, Junda New Energy is the world's leading manufacturer of professional photovoltaic cells. Junda New Energy and its subsidiary Jietai Technology continue to focus on R&D, production and sales of high-efficiency photovoltaic cells. With R&D innovation and key technologies, the company continues to rank at the forefront of the industry in different generations of mainstream photovoltaic cells such as N-type Topcon batteries and p-type PERC batteries.

According to Frost & Sullivan, photovoltaic power generation has become the fastest growing renewable energy due to its environmental friendliness, low cost, wide distribution, and high safety advantages. Compared with other renewable energy sources such as wind energy and hydropower, photovoltaic power generation is more suitable for different scales, has widely available resources, and has minimal geographical restrictions. Therefore, according to Frost & Sullivan, in terms of cumulative installed capacity, photovoltaic power generation is expected to become the world's largest renewable energy source by 2027.

Junda New Energy has been leading the global photovoltaic cell industry from P-type PERC cells to N-type batteries, achieving cost-effective large-scale mass production while implementing technological innovation. According to Frost & Sullivan's data, based on the shipment volume for the six months ended June 30, 2023, Junda New Energy's N-type TopCon battery global market share reached about 57.4%, ranking first, and our PV battery global market share reached about 10.8%, ranking fifth.

In the N-type battery era that began in 2022, Junda New Energy became the world's first professional photovoltaic cell manufacturer to develop and mass-produce N-type TopCon batteries, once again leading the technological transformation of the industry. In December 2023, Junda New Energy's TopCon battery mass production conversion efficiency exceeded 26.0%. According to Frost & Sullivan data, this has achieved the highest large-scale mass production conversion efficiency in the field of batteries in the photovoltaic battery industry.

Thanks to the company's operating efficiency and market demand, Junda New Energy's photovoltaic cell sales also increased from 1.8 GW in 2021 to 10.7 GW in 2022, and from 6.9 GW in the nine months ending September 30, 2022 to 19.6 GW in the same period in 2023.

On the financial side, in 2021, 2022, and the nine months ended September 30 in 2023, Junda New Energy achieved revenue of approximately RMB 1,639 million, RMB 11.086 billion, and RMB 14.342 billion respectively; for the same period, gross profit was approximately RMB 207 million, RMB 1,215 million and RMB 2,488 billion, respectively.