PVTIME – recently, Shine Earth (Fujian) New Energy Co., Ltd. (Shine Earch), a well-known China-based high-tech company mainly engaged in the production, R&D and sales of monocrystalline or polycrystalline solar cells, announced the suspension of its solar cell production.
According to the announcement, after careful evaluation and discussion, the solar cell production was suspended on 3 June 2024 and will be resumed on an opportunistic basis according to market conditions. This move will definitely reduce the Company’s operating income and profit in 2024, and will negatively impact the Company’s operating results in 2024.
All employees will be properly relocated during the suspension period. Active measures will be taken to reduce costs during the shutdown and production will be resumed as soon as possible. Relationships with suppliers and customers in the supply chain will be maintained to ensure the supply of raw materials and sales of products required after production resumes.
Shine Earch has been engaged in the development and production of solar cells for more than a decade, as it was established in 2010 in Fujian Province, China, and was the leading PV company in the province. In 2023, the third phase of a solar cell project with production capacity of 5GW was launched and is expected to be operational by 30 September 2024, then the fourth phase with capacity of 3.5GW of high-efficiency solar cells is in the pipeline. Upon completion, the total solar cell production capacity will reach 11.4GW per year.
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