On September 25, Innovation Energy disclosed its placement plan, as reported by the Star Daily on September 25.

The announcement indicates that Innovation Energy plans to issue shares to specific targets through a simplified process to raise a total amount not exceeding 0.285 billion yuan (including this figure). After deducting issuance costs, the net proceeds of the fundraising will be used for the annual production of 1GW of stacked modules manufacturing project and supplementary working capital. The number of issuers this time does not exceed 35.

Among them, 0.2 billion yuan is used for the annual production of 1GW of stacked modules manufacturing project; 85 million yuan is used for supplementary working capital.

It is reported that the total investment amount of the stacked project is 0.288 billion yuan, with a planned construction period of 9 months. After the project is completed, it will create an additional annual production capacity of 1GW of stacked modules. Of this, 0.2 billion yuan of the fundraising this time will be used for construction investment, including installation engineering, equipment purchase expenses, etc.

Innovation Energy stated that through the construction of this stacked module project, on one hand, the company can timely capture the manufacturing process difficulties of itself and customers in the component process based on the production line situation; on the other hand, it can obtain actual mass production data for the company's R&D of new products, promote the R&D center to improve the products, and shorten the product development cycle.

From a financial perspective, the profit and cash flow situation of Star Energy is not optimistic. In the first half of this year, the company's net income attributable to the parent company was a loss of 0.133 billion yuan, while it was a profit of 0.118 billion yuan in the same period last year; the net cash flow from operating activities was -0.243 billion yuan, compared to -0.135 billion yuan in the same period last year.

In terms of performance, Star Energy stated that the overall situation of the photovoltaic industry chain prices has shown a downward trend, with solar cell prices rapidly declining. Due to the overall market impact, the company's battery prices and sales volume have also decreased, leading to a reduction in sales revenue.

Due to the intensifying competition in the photovoltaic market, manufacturers at all levels of the photovoltaic industry are seeking to reduce costs and improve efficiency.

"The evolution of gridline technology is one of the focus points of the photovoltaic industry. Finer gridlines are more beneficial in reducing the amount of silver paste used, thereby lowering costs, while also reducing shadowing on solar cells and enhancing power generation efficiency. The company's independently developed bifacial cell technology can not only effectively solve the shadowing issue on the cell surface to improve module conversion efficiency but also significantly reduce silver consumption and achieve cost reduction." Star Energy stated.

Just a few days ago, Star Energy also signed a "Technical Cooperation Development Contract" with Tongwei Co., Ltd., intending to carry out technological cooperation and development of bifacial modules and subsequent mass production plans.

It is reported that through the implementation of this capital-raising project, Star Energy will promote the industrialization of bifacial modules and achieve the transition of research and development results to mass production. The company's half-cut N-type TOPCon cell production line was put into operation in the first half of 2024. The bifacial module technology used in this capital-raising project can form a good match with the double POLO technology of TOPCon cells, effectively reducing the optical loss caused by Polyfinger in double POLO cells and leveraging the advantages of bifacial technology in reducing silver consumption.