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Photovoltaic copper electroplating technology has made breakthroughs!

Recently, Haiyuan Composite announced to the public that its photovoltaic copper electroplating technology has achieved breakthroughs, with good pilot results and a stable process. Compared to mainstream photovoltaic silver paste, electroplating copper technology can reduce costs by about 50% and increase conversion efficiency by about 0.3%. It is expected to become the first photovoltaic enterprise in the industry to apply electroplating copper technology.
At the beginning of this year, Haiyuan Composite stated during institutional research that the current cost of HJT silver metallization is about 0.2 yuan per watt, and the cost of using copper grid wires is about 0.1 yuan per watt. The cost reduction potential of copper electroplating technology has already been revealed to the public. Surprisingly, Haiyuan Composite achieved breakthrough progress in less than a year. This is also expected to enable Haiyuan Composite to turn losses into profits as soon as possible.
According to data, Haiyuan Composite Materials was founded in 1988 and is an established enterprise in China. After more than thirty years of development, in 2019, Haiyuan Composite has become a composite material lightweight product and new intelligent mechanical equipment enterprise that integrates research and development, production, and sales.
In September 2020, Haiyuan Composite acquired the controlling shareholder Jiangxi Saiwei's wholly-owned subsidiary, Saiwei Power, for "0 yuan" and entered the photovoltaic industry. In December, the first phase of the 375MW high-efficiency photovoltaic module experimental line of Haiyuan Composite Materials began trial production, and Yangzhou Saiwei Energy Technology Co., Ltd. was invested to establish a 10GW high-efficiency photovoltaic cell and 10GW high-efficiency module production project in Gaoyou Economic Development Zone.
However, under the pressure of low production capacity and rising upstream raw material prices, the photovoltaic business has not contributed profits to Haiyuan Composite.
In 2021, Haiyuan's composite photovoltaic business achieved a revenue of approximately 29.34 million yuan, with a gross profit margin of -15.75%. In the first half of this year, its photovoltaic business achieved a revenue of 70.14 million yuan, with a gross profit margin of -7.3%.
Therefore, Haiyuan Composite announced in June this year that it will invest in the construction of a 600MW HJT high-efficiency heterojunction battery production project in the National High tech Development Zone of Xinyu City. The project will take 18 months and have a total investment of 354.8 million yuan.
In response to the high cost pain point of heterojunction battery modules, Haiyuan Composite mainly focuses on two aspects: ingot single crystal, copper grid wire heterojunction battery and module technology.
Among them, in terms of ingot single crystal technology, the controlling shareholder of Haiyuan Composite Materials is a company that was reorganized after the bankruptcy of former photovoltaic giant Saiwei LDK, and possesses the core technology of ingot single crystal.
In terms of copper electroplating technology, Haiyuan Composite Materials has partnered with Jiedebao, which is a leader in electroplating solutions and has been researching photovoltaic cell electroplating solutions for over 5 years. The horizontal double-sided electroplating equipment developed for the photovoltaic cell industry, combined with an exclusively modulated electroplating solution formula, is currently the only effective electroplating solution in the industry.
Affected by this positive news, as of the close on December 19th, Haiyuan Composite Harvest has raised its limit for the third time in nearly a month, with its stock price closing at 20.82 yuan and a total market value of 5.413 billion yuan.
Note: The article was forwarded from the International Energy Network