On the evening of March 20th, Jingke Energy announced that Jingke Energy Holdings expects component shipments to be between 18 gigawatts and 20 gigawatts in the first quarter of 2024, and expects component shipments to be between 100 gigawatts and 110 gigawatts for the entire year of 2024.
Jingke Energy Holdings is the controlling shareholder of Jingke Energy Investment, indirectly holding 58.59% of the company's equity. As a holding company, Jingke Energy Holdings is currently the main production and operation entity of Jingke Energy Holdings, with its wholly-owned subsidiaries holding a small amount of overseas power station development and operation business. The company's operating income accounts for over 99% of Jingke Energy Holdings' operating income.
Li Xiande, Chairman and CEO of Jingke Energy Holdings, stated that with advantages in N-type TOPCon technology, global operations, and integrated production capacity, the annual component shipment volume in 2023 increased by 76.4% year-on-year, reaching 78.5GW, ranking first in the industry.
Li Xiande introduced that benefiting from the manufacturing strategy of vertical integration and the early leading position in N-type TOPCon, as of the end of the fourth quarter of 2023, the company's N-type production capacity has exceeded 70GW, and the cost structure continues to improve. At present, the mass production efficiency of N-type TOPCon batteries exceeds 26%, and the integrated cost of N-type batteries is basically the same as that of P-type batteries. With the industry's largest integrated overseas production capacity of over 12GW and continuously improving supply chain traceability system, the company has become the most reliable component supplier in the US market, and is expected to have a significant profit release in 2024; The investment in innovative production models will also reflect returns over time. The first and second phases of Shanxi Base will be put into operation in the first half of the year as planned, and gradually ramp up in the second half of the year. The full automation of the entire line can greatly improve labor efficiency and operational turnover efficiency, and it is expected to bring a significant decrease in operating costs after full production.
Considering the supply chain and market conditions, the investment intensity in 2024 has significantly decreased compared to 2023. The company focuses on investing in advanced N-type production capacity, including an integrated N-type production capacity of 28GW in Shanxi's large base and approximately 4GW in Vietnam's N-type battery and component production capacity.
In the short to medium term, the decrease in component prices will significantly enhance the economic viability of photovoltaics, and it is expected that the global photovoltaic market demand will continue to grow in 2024. At the same time, the rapid iteration of new technologies and the elimination of old production capacity will also accelerate industry integration. The market share of Top10 component enterprises is expected to increase from 70% in 2023 to over 90% in 2024. The company is confident in continuously enhancing its competitiveness in this round of cyclical fluctuations, and it is expected that Jingke's market share will further increase in 2024. (Huangpu River)