On April 28, the tender announcement for the flexible PV module framework tender of projects including the in-plant distributed PV power generation (Phase II) of Zhenhai Refining & Chemical Company, a subsidiary of China Petroleum & Chemical Corporation, was released. The announcement indicated that 23,835 flexible PV modules would be procured through the framework tender for the in-plant distributed PV power generation (Phase II) and other projects.

SMM's monthly production data for base metals is released at the end of each month, aiming to uncover the true fundamentals for industry chain professionals and investors, and providing a clearer grasp of the future direction of the non-ferrous metal market.

On May 1, Guangzhou Development New Energy Group announced the winning candidates for small and micro distributed PV projects, which were divided into 15 sections with a total capacity of 1.092 GW. Specifically, Skyworth, Midea, TrinaSolar, Nenghui Technology, Xinmaide, GCL, and other enterprises were the first-ranked winning candidates, with winning unit prices ranging from 2.6 to 3.6 yuan/W. See the table below for details:

Beijing Solar PV Network learned that recently, foreign media reported that Nippon Energy, a Japanese PV EPC company, announced plans to establish a PV module manufacturing plant in Dubai with an annual capacity of 1GW, which is intended to produce HJT PV modules. To support this plan, Nippon Energy has recently acquired a PV module enterprise established in 2016 in Dubai.

[SMM Silicon-Based PV Morning Meeting Summary: Wafer Prices Fall Again in May, Production Schedules for Solar Cells and PV Films Both Decline MoM] Wafer: The market price of N-type 18X wafers is 0.98-1.05 yuan/piece; the price of 210R wafers is 1.15-1.2 yuan/piece. Solar Cell: In May, the production schedule for P-type solar cells decreased by 24.10% MoM, and the production schedule for N-type solar cells decreased by 7.14% MoM. Film: In May, the production schedule for PV-grade EVA decreased by 11.84% MoM, and the production schedule for PV films decreased by 15.73% MoM.

[SMM Analysis: Uncertainty During Policy Transition Period, Focus on Actual Production After the Holiday] In terms of PV extrusion, affected by the uncertainty during the policy transition period, the current production scheduling strategies of module enterprises have become more cautious. According to the SMM survey, due to the mismatch between the module production cycle and the grid connection deadline, current production orders cannot be completed and connected to the grid before the May 31 period. Coupled with the fact that follow-up policy transition documents have not yet been issued, downstream module producers have generally lowered their demand expectations for May orders by 10%. This week, the operating rates of top-tier PV extrusion enterprises have slightly declined, mainly shifting to execute production schedules for newly signed orders in May. Relevant enterprises have no plans to halt production during the Labour Day holiday and will maintain normal production.

① Zhong Baoshen, Chairman of the company, stated that the ability to turn losses into profits is highly correlated with the industry situation, and the company aims to return to the break-even point by Q3 this year. ② Zhong Baoshen predicted that by 2026, with the adaptation and adjustment of the power system to the integration of new energy, the company is expected to return to a growth state. However, it will not return to the growth rate of 40% to 50% seen in previous years, but rather to an increase of around 10%.