Reuters and Chinese news outlets have reported that glass manufacturer Kibing Group will undertake significant capacity expansion projects in the provinces of Yunnan and Fujian. On April 7, Kibing announced the following capacity expansion projects: (1) a new PV glass production line in Fujian with a daily capacity of 1,200t; (2) additional production capacity for quartz sand in Yunnan; and (3) four new PV glass production lines in Yunnan with a daily capacity of 1,200t each.
The amounts of investment for these projects are as follows: (1) RMB 1.14 billion for the new PV glass production line in Fujian; (2) RMB 1.08 billion for the additional production capacity for quartz sand in Yunnan; and (3) 5.18 billon for the four new PV glass production lines in Yunnan.
The new PV glass production line in Fujian represents the second-phase expansion of the company’s local production base for materials related to PV modules. The base is located in Dongshan County of the province. As for the projects in Yunnan, the four new PV glass production lines will be placed in the city of Zhaotong that occupies the northeastern corner of the province. The new glass production lines will also be set up in multiple phases.
Kibing also reported on the same day that its net profit for 2021 registered a huge year-on-year increase of 133.4% to reach around RMB 4.2 billion. The company plans to pay a cash dividend of RMB 8 (including tax) for every 10 shares.