PV Giant DASOLAR Launches A-Share IPO, Initiates Intense Sprint Battle

DASOLAR (一道新能) recently signed a listing guidance agreement with Sinolink Securities (国金证券), officially launching its IPO process in the A-share market.

According to the latest data released by the China Photovoltaic Industry Association (中国光伏行业协会) in February 2023, in 2022, the manufacturing end of the global photovoltaic industry chain has been driven by the demand of the application market, and the production scale will continue to expand. It is estimated that the newly installed photovoltaic capacity in the world will reach 230 GW in 2022, a year-on-year increase of 35.3%, which will further promote the expansion of production capacity at the manufacturing end of the photovoltaic industry chain. Mainland China is still the main gathering place for global production capacity, of which silicon wafer production capacity accounts for 98% of the global total production capacity, cell production capacity accounts for more than 85%, and module production capacity accounts for about 77%. In recent years, the center of gravity of the global photovoltaic industry has gradually shifted to mainland China. In 2022, the production of silicon wafers, cells, and modules in mainland China will account for more than 80% of the world's total production, and show a rapid growth momentum.

As a leader in N-type photovoltaic technology, DASOLAR has two core products, N-type modules, and lightweight modules, and provides three series of full-scenario photovoltaic system solutions including ecological photovoltaics, urban photovoltaics, and offshore photovoltaics. As early as 2019, DASOLAR took the lead in building China's first high-efficiency TOPCon battery production line with an annual output of 1.2 GW. At present, DASOLAR's N-type double-sided TOPCon technology has developed to the 3.0 plus era, and its laboratory efficiency has reached 26.24% (the highest efficiency in mass production exceeds 25.8%), and the open circuit voltage is as high as 730 millivolts, setting a world record. At present, DASOLAR is promoting TOPCon 4.0 mass production technology, aiming to achieve mass production efficiency of TOPCon cells exceeding 26%.

In 2022, the output value of DASOLAR will reach CNY 11.05 billion, an increase of nearly 100 times compared to 2019. The shipment of N-type modules will rank third in the world, and the shipment of modules will rank eighth in the world. At the same time, DASOLAR plans to build 30 GW of high-efficiency battery and high-efficiency module production capacity in 2023.

Since its establishment, DASOLAR has received investment from many well-known institutions and industries, including China Three Gorges Corporation (三峡集团), China Merchants Innovation Investment (招商局创投), Yongfu (永福股份), Linyang Energy (林洋能源), Qianhai Fof (前海母基金), Langmafeng VC (朗玛峰创投), Puhua Capital (普华资本), ZJU Joint Innovation Investment (浙大联创), Huaxing Growth Capital (华兴新经济基金), Clp-cicc Investment (中电中金基金), JOLMO (金雨茂物), Golden Industry Investment (厚纪资本), Lihan Investment (礼瀚投资), Hes Technology Group (豪尔赛) and Bosera Innovation (博时创新).