On April 28th, Red Star Capital Bureau reported that photovoltaic module leader Jingke Energy (688223. SH) announced that around 3:00 pm on April 26th, a fire broke out on the roof of the first phase slicing battery workshop of Shanxi Jingke Energy No.2 Intelligent Manufacturing Co., Ltd., a wholly-owned subsidiary of the company, causing a fire accident.
With the firefighting efforts of local fire emergency departments, the relevant fire situation has been controlled and extinguished. At present, the specific cause of the fire accident is being investigated and verified.
The announcement shows that the accident did not cause any casualties, and the factory, equipment, and inventory at the accident site were damaged to a certain extent. The specific losses are being verified and evaluated, and it is preliminarily expected to have a certain impact on the annual performance of 2024.
Jingke Energy stated that the damaged assets of the company have been insured with property insurance and have been reported to the insurance company. The relevant insurance loss assessment and claims work is currently underway. At the same time, the production and subsequent ramp up progress of the first phase of the Shanxi base will be affected to a certain extent due to this accident. The company is actively planning and arranging, adjusting production processes and order allocation, and making every effort to reduce or eliminate the impact on customer order delivery.
As of the date of this announcement, the production and operation of other subsidiary companies of the company are normal. The company will fully cooperate with relevant departments to investigate the accident, identify the cause of the accident, urge its subsidiaries and production bases to strengthen their own and supplier safety management, and prevent similar accidents from happening again.
Jingke Energy previously disclosed that the total investment of Jingke Energy's "Annual Production of 56GW Vertical Integration Base Project" is about 56 billion yuan, which is a major transformation project introduced and implemented in Shanxi Province. It plans to build an annual production capacity of 56GW single crystal pulling rods, 56GW slicing, 56GW high-efficiency battery cells, and 56GW components.
On March 26th, the first production line of the project was fully connected, and the first phase of the project with a 14GW integrated production capacity was put into operation. The fourth phase of the project is expected to be completed and put into operation in 2025.
According to the 2023 annual report of Jingke Energy, the company will maintain a cautious pace of expansion in 2024, prioritize the landing of advantageous production capacity such as the Shanxi base, and accelerate the elimination of outdated production capacity. By the end of 2024, it is expected that the advanced production capacity of silicon wafers, batteries, and components will reach 120GW, 110GW, and 130GW respectively, with N-type production capacity exceeding 100GW.