The photovoltaic industry is one of the most representative industries in China's "going global" strategy. Its system is particularly durable and has low maintenance costs. It has been applied to the aerospace field since the early 1950s. Now it is widely deployed in commercial and residential areas. Photovoltaic technology has made significant progress and cost-effectiveness has been improved. With the continuous maturity of technology and large-scale production, manufacturing costs have dropped significantly, making photovoltaic power generation an increasingly affordable renewable energy solution. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.
Globally, the photovoltaic industry has grown rapidly with the increasing demand for renewable energy and concerns about environmental sustainability. Governments have further promoted the popularity of this technology through various policies such as subsidies, tax incentives, and renewable energy quotas. In addition, continuous technological innovation, such as stacked solar panels and transparent solar cells, is also promoting the development of the photovoltaic industry towards higher efficiency and wider application areas.
The popularization and application of photovoltaic technology provide an effective way to reduce carbon emissions and dependence on traditional fossil fuels. This signifies a more important role in the global energy structural transformation. With the further reduction of costs and the continuous improvement of efficiency, the future development potential of the photovoltaic industry is enormous, providing valuable technical support for the sustainable development of global energy.
The Chinese photovoltaic industry showed significant growth and development in 2023, with a large increase in the supply of photovoltaic main materials, technological progress, and outstanding export performance. According to statistics from the China Photovoltaic Industry Association, the production of polysilicon reached 1.43 million tons, an increase of 67%; the production of silicon wafers was 622GW, a year-on-year increase of 67.5%; the production of battery cells reached 545GW, an increase of 64.9%; and the production of components reached 500GW, an increase of 69.3%. These data not only show a significant increase in output but also highlight the optimization of the industrial structure and technological progress.
Estimated photovoltaic component production capacity from 2021 to 2023.
According to Bloomberg's data forecast, the optimistic scenario estimates that the global photovoltaic annual installed capacity will increase by about 574GW in 2024, and the conservative estimate is around 474GW. The increase in installed capacity will drive the increase in demand for all photovoltaic components. Among them, in terms of demand for photovoltaic aluminum frames, the demand for photovoltaic aluminum frames is about 3.32 million tons after the module market changes data are revised in 2023. Regarding electrolytic aluminum production capacity, the China Nonferrous Metals Processing Industry Association predicts that China's electrolytic aluminum construction capacity will be about 45.22 million tons and its production capacity will be about 42.13 million tons.
Photovoltaic frames are secondary materials used in photovoltaic modules, located in the downstream of the photovoltaic industry chain. The performance of photovoltaic frames has a direct impact on the installation and service life of photovoltaic modules. Aluminum frames have always been the mainstream of photovoltaic frames due to their lightweight, easy processing, beauty, and good weather resistance, with a market share of over 95% in 2022.
Overview of characteristics of photovoltaic module frames
Yongzhen Holdings is a company mainly engaged in the research and development, production, sales, and application of green energy structural materials, adhering to the corporate vision of "becoming a leader in green energy structural material application solutions." After years of cultivation, it has become one of the leading aluminum photovoltaic structural component manufacturers in China. The company's main products include photovoltaic frame products, photovoltaic building integrated products (BIPV), and photovoltaic bracket structural components.
Aluminum alloy distributed bracket
Currently, the company has four major production bases in Changzhou, Jiangsu, Yingkou, Liaoning, Chuzhou, Anhui, and Wuhu, Anhui, with a total land area of nearly 1,250 acres. By 2023, the company will be able to produce 240,000 tons of photovoltaic frames annually. The Wuhu annual production of 270,000 tons of photovoltaic frames is in the trial production and commissioning stage. After the project reaches full production, the company's production capacity advantage will be further expanded.
Since its establishment, Yongzhen Holdings has been deeply rooted in the photovoltaic industry. After years of accumulation of technology, it has strong strength in photovoltaic frame industries and has accumulated rich industry experience in product structural design, large-scale production, product quality control, and cost control. Adhering to the business philosophy of "creating value for customers," the company has established a good reputation among downstream customers with mature technology and process, reliable product quality, efficient and stable mass product delivery capabilities, and other competitive advantages, and has accumulated a wealth of customer resources. During the reporting period, the photovoltaic frames produced by the company have entered the supply chain systems of head module manufacturers such as Trina Solar Co., Ltd., JA Solar Technology, Longi Green Energy, ATS, Jinko Solar, and established long-term stable cooperative relations.
It is believed that after Yongzhen Holdings successfully enters the main board and leverages the power of the capital market, it will achieve greater success and allow the world to feel the vitality and strength of the Chinese photovoltaic industry!