[SMM Brief] Dec 22-28: Awarded PV Module Capacity Reaches 361.73MW with Average Winning Price of RMB 0.74/W

During this statistical period, SMM tracked domestic project awards to companies including Chint New Energy Technology Co., Ltd., CECEP Solar Energy Technology (Zhenjiang) Co., Ltd., Guangzhou Gaojing Solar Technology Co., Ltd., Shanxi Lu'an Solar Energy Technology Co., Ltd., GCL System Integration Technology Co., Ltd., Jiangsu Jiangdong Guangneng Technology Co., Ltd., Yingchen New Energy Technology Co., Ltd., among others. After data processing, 14 projects disclosed capacity figures, and 5 projects disclosed winning prices. The primary module type procured and awarded in this period was N-type modules.

According to SMM analysis, the primary share of awarded capacity in this period fell within the 20MW to 200MW range. A total of 4 projects in this bracket accounted for 74.64% of the total disclosed awarded capacity for the period. The chart illustrates the capacity share and segment average price for each size bracket. Details are as follows:

• 0MW-1MW: 5 projects, accounting for 0.09% of total capacity. Average price not disclosed.

• 1MW-5MW: 2 projects, accounting for 1.04% of total capacity. Average price: RMB 0.700/W.

• 5MW-10MW: 3 projects, accounting for 5.77% of total capacity. Average price: RMB 0.785/W.

• 10MW-20MW: 4 projects, accounting for 18.46% of total capacity. Average price: RMB 0.714/W.

• 20MW-50MW: 3 projects, accounting for 33.17% of total capacity. Average price: RMB 0.745/W.

• 100MW-200MW: 1 project, accounting for 41.47% of total capacity. Average price not disclosed.

SMM analysis indicates that PV module winning prices in this period were predominantly concentrated within the RMB 0.67-0.75/W range. The weighted average price for the period was RMB 0.74/W, down RMB 0.01/W from the previous period's RMB 0.75/W. This decrease is attributed to the influence of the weighted average price within the key capacity brackets. Among the brackets with disclosed prices, the 20MW-50MW segment held the largest capacity share at 33.17%, with a segment average price of RMB 0.745/W, contributing to the overall price decline.

Regarding total awarded procurement capacity, the current period's figure of 361.73MW represents a decrease of 1,324.65MW compared to the previous period. This decline is primarily due to the presence of three large-scale projects in the prior period:

1. A 435MW project: *"Yancheng Xingyue New Energy Co., Ltd. 420MW Fishery-Photovoltaic Complementary Power Generation Project"*.

2. A 282MW project: *"Daduke Company Aba Rong'an 1150MW PV Project - Partial PV Module Equipment"*.

3. A 240MW bundled project: *"China Huadian Group New Energy Industry Related Project - Henan Huadian Zhoukou and Three Other Residential Distributed PV Power Generation Projects 240MWp PV Module Bundle"*.

In terms of regional distribution of awarded projects, Guangdong province recorded the highest awarded capacity at 197.01MW, accounting for 54.46% of the period's total. It was followed by Shanxi (50.00MW, 13.82%) and Hebei (40.62MW, 11.23%).

Key Project Awards for the Period (Dec 22-28):

• Chint New Energy Technology Co., Ltd. was awarded the 150MW PV module supply contract for the *"Guangdong State Farms Hongshiyue Farm 300MW Agriculture-Photovoltaic Complementary Power Generation Project Post-Disaster Restoration Works"*.

• Guangzhou Gaojing Solar Technology Co., Ltd. won a 40MW contract for the "Distributed Photovoltaic Power Generation Project 40MW Modules" with a winning price of RMB 0.75/W.

• CECEP Solar Energy Technology (Zhenjiang) Co., Ltd. was awarded a 30MW contract for "CECEP Solar North China Region Nanpi Company PV Modules".