New stock news | Jun Da New Energy Hong Kong stock IPO prospectus is invalid, N-type TOPCon battery ranks first in the global market share.

Hainan Junda New Energy Technology Co., Ltd. (referred to as "Junda New Energy") submitted its Hong Kong IPO prospectus on February 6, 2024, which expired six months later on August 6, with Huatai International, CICC, and Deutsche Bank as its joint sponsors at the time of submission. According to the prospectus, Junda New Energy is a leading global professional photovoltaic cell manufacturer. Junda New Energy, together with its subsidiary Jete Tech, has been focusing on the research, development, production, and sales of high-efficiency photovoltaic cells. With research and development innovation and key technologies, the company has remained at the forefront of the industry in various mainstream photovoltaic cells such as N-type TOPCon cells and P-type PERC cells. According to Frost & Sullivan's data, based on the shipment volume for the six months ended June 30, 2023, Junda New Energy's global market share of N-type TOPCon cells is approximately 57.4%, ranking first, and the company's photovoltaic cell global market share is approximately 10.8%, ranking fifth. Due to the company's operational efficiency and market demand, Junda New Energy's photovoltaic cell sales have increased from 6.9 GW for the nine months ended September 30, 2022, to 19.6 GW for the same period in 2023. In the era of N-type cells that began in 2022, Junda New Energy became the world's first professional photovoltaic cell manufacturer to achieve research and large-scale production of N-type TOPCon cells, once again leading the industry in technological innovation. In December 2023, Junda New Energy's TOPCon cells achieved a production conversion efficiency exceeding 26.0%, reaching the highest production conversion efficiency in the photovoltaic cell industry, according to Frost & Sullivan's data. Benefiting from the company's operational efficiency and market demand, Junda New Energy's photovoltaic cell sales also increased from 1.8 GW in 2021 to 10.7 GW in 2022, and from 6.9 GW for the nine months ended September 30, 2022, to 19.6 GW for the same period in 2023. Financially, for the nine months ended September 30 in 2021, 2022, and 2023, Junda New Energy achieved revenues of approximately RMB 16.39 billion, RMB 110.86 billion, and RMB 143.42 billion respectively; during the same periods, the company achieved gross profits of approximately RMB 2.07 billion, RMB 12.15 billion, and RMB 24.88 billion respectively.