The manufacturer JA Solar estimates reaching a production capacity of 50 GW in 2023, approximately 50% for N-type modules. And, by the end of this year, the company hopes to reach the amount exceeding 40 GW in annual module shipments and obtain between 1.6 billion and 1.8 billion yuan in net profit.
In the first half of this year, the company's module shipments increased significantly compared to the previous year, with shipments of nearly 20 GW. Furthermore, the manufacturer registered net profit of 1.68 billion yuan.
According to the company, the 1.3 GW capacity of N-type modules should start production at the end of this year, and should reach at least 5 GW of modules before Chinese New Year, starting January 22, 2023. Still for N-type, the factories located in Yunnan Qujing and Yangzhou have 10 GW of production capacity and capacity is expected to reach 26 GW next year.
Module shipments
In the second quarter, the company shipped more than 9 GW. According to the ranking of module shipments in the first half of the year, JA Solar's module shipments were approximately 20 GW, ranking second.
European market heating up demand
According to JA Solar, in the second quarter of 2022 the majority of orders came from the European photovoltaic market, with strong demand. The manufacturer attributes the increase to energy shortages in Europe and the sharp increase in energy tariff prices.
At the same time, given the strong development of energy storage in the European market, the company is actively promoting energy storage agreements, and has established joint ventures with partners to jointly promote energy storage products, first launched in the second half of the year.