On the evening of October 24, GCL Integrated announced that it planned to invest 8 billion yuan in the layout of TOPCon photovoltaic cells. On October 25, GCL Integrated opened sharply and closed at 3.59 yuan/share, up 5.9%, with a total market value of 21 billion yuan. The stock prices of listed companies such as Ejing Optoelectronics, Lingda Shares and JinkoSolar, which belong to the TOPCon battery plate, all rose.

For the reasons for the layout of the photovoltaic cell plate, the person in charge of GCL integration told reporters that it is mainly to meet the production capacity supporting needs of the Hefei GCL Integration module base. After the completion of the project, the company will have the independent production capacity of TOPCon batteries, effectively improve the overall gross margin level of the industrial chain, alleviate supply chain risks, and enhance the profitability and market competitiveness of the enterprise. The above responsible person said that with the gradual production of the future project, in addition to meeting the production needs of self-produced components of the Hefei component base, it can be fully supplied to the market.

Trina Solar, Zhonglai Shares, JA Technology and other listed companies have expanded TOPCon battery production capacity. Many leading companies' TOPCon battery projects have begun production. Jinkoenergy recently accepted institutional research said that the current JinkoEnergy phase 1 16GW TOPCon battery project has been completed to full production. In the second half of the year, JinkoSolar Hefei Phase II 8GW, Jianshan Phase II 11GW battery projects will also be put into operation.

Tongwei Shares 2022 semi-annual report shows that the company plans to build a new 8.5GW TOPCon battery production line, which is expected to be completed and put into operation by the end of 2022.

On September 7, Trina Solar said at the 2022 semi-annual performance presentation that TOPCon has reached the stage of efficient and low-cost large-scale mass production, so it has taken the lead in promoting the mass production of the technology.

Huang Group, Mubang High-tech and many other companies are involved in the field of TOPCon photovoltaic cells.

TOPCon battery has entered the stage of industrial expansion. According to the statistics of Great Wall Guorui Securities, as of June 15, 2022, the domestic built TOPCon capacity is 30.55GW, and the capacity under construction/to be built is 178.8GW. Of the capacity under construction, 62.30GW is expected to come on stream during the year.

Efficient batteries are more popular

As one of the important components of the photovoltaic industry chain, the continued growth of the photovoltaic cell market is mainly benefited from the high demand for photovoltaic terminals.

An industry source said that the current component manufacturers procurement power is still not attenuated, the demand for efficient battery cells is very large, so that the original supply shortage of battery links more popular.

According to the official website of Tongwei Solar, on September 27, Tongwei Solar announced that it raised the price of single-crystal PERC batteries across the board, of which 166 size and 182 size batteries rose by 0.02 yuan/watt, and 210 size batteries rose by 0.03 yuan/watt, respectively offering 1.31 yuan/watt, 1.33 yuan/watt and 1.33 yuan/watt. This is also the 10th price adjustment of Tongwei Solar this year. Compared with the January offer, its latest price is increased by 20.18%, 18.75% and 18.75% respectively. On October 25, Tongwei Solar official website announced the latest battery offer, and the price has not changed compared with the previous offer.

In recent years, the photovoltaic industry has developed rapidly, and the continuous upgrading of technology plays the most important role. A number of industry insiders told reporters that TOPCon is a technical route for faster industrialization at present. According to the statistics of the China Photovoltaic Industry Association, in 2021, the PERC battery market accounted for about 91%, and the heterojunction and TOPCon accounted for less than 3%. It is expected that by 2025, the total proportion of ultra-efficient battery technologies represented by heterojunction and TOPCon will be close to 40%, and it is expected to exceed 75% by 2030.

Recently, the Ministry of Industry and Information Technology and other five departments jointly issued the "Accelerate the green low-carbon innovation and development of electric power equipment action Plan" pointed out that through 5 to 8 years, the focus on the development of efficient and low-cost photovoltaic cell technology in solar energy equipment, including TOPCon, HJT, IBC and other crystalline silicon solar cell technology and perovskite, stacked battery module technology industrialization.

China Merchants Securities said that at present, TOPCon batteries have begun mass production, and they are in the dividend period of new technology promotion, and advantageous enterprises will enjoy the first dividend in profits and shipments. The visibility of TOPCon's industrialization to reduce costs and increase efficiency is strong, and the optimization space is relatively large, and the profit cycle of its production line is expected to be relatively long.