Recently, Shanghai Aiko Solar Energy Co., Ltd. (Aiko) and Tangshan Haitai New Energy Technology Co., Ltd. (Haitai Solar) disclosed their semi-annual financial results for 2026.
Aiko: ABC Module Orders Fully Booked Until H1 2027
On September 18, Aiko disclosed the details of its 2026 semi-annual earnings conference call, addressing topics such as ABC module orders and production capacity construction.
In the first half of 2026, the company's ABC module shipments reached approximately 9.4 GW, with the second quarter's shipment volume growing by about 30% quarter-on-quarter compared to the first quarter. Currently, orders on hand for ABC modules stand at approximately 15 GW. As customer purchasing intent continues to exceed the company's production capacity, relevant orders have been scheduled into the first half of 2027.
Regarding the overseas market, in the first half of 2026, the company deeply cultivated high-value international markets such as Europe, Australia, Japan, South Korea, the Middle East, and Africa. The proportion of overseas shipments for ABC modules surpassed 55%, and this percentage is expected to rise further in the second half of the year.
Currently, the first phase of the 3 GW module production capacity at the Jinan base has fully entered production. For the supporting cell production capacity, several lines have successively commenced operations and are gradually ramping up capacity. This phase is expected to be fully completed and put into operation in the fourth quarter.
Additionally, the company has initiated the technological upgrade of its PERC production lines at the Yiwu base and TOPCon production lines at the Chuzhou base to transition them into ABC cell production lines. In the second half of the year, several upgraded lines have been completed and have entered the debugging, trial production, and capacity ramp-up stages. Among them, the Yiwu retrofitting project is currently in its final stages and will provide substantial business support in the fourth quarter, while the Chuzhou retrofitting project is expected to achieve production in the fourth quarter.
On the technology front, Aiko stated that its latest fourth-generation BC products have been successfully developed, boasting a maximum conversion efficiency of up to 26%. These products will be gradually introduced into mass production lines in the future.
Haitai Solar: Export Revenue Increases by 53.27% YoY
On the same day, Tangshan Haitai New Energy Technology Co., Ltd. released its Investor Relations Activity Record. During its 2026 semi-annual earnings conference call held on September 16, the company responded to questions concerning its module business, overseas markets, and plans for the second half of the year.
Looking at the overall operational performance, Haitai Solar experienced varied results across its business segments in the first half of the year. The company noted that its traditional photovoltaic manufacturing business was affected by the industry cycle, resulting in a significant decline in revenue from modules and mounting structures. However, revenue from the engineering and solar ribbon businesses increased, driving the overall gross profit margin up to 3.6%.
The decline in module revenue in the first half of 2026 was primarily due to the deep adjustment in the domestic PV industry, supply-demand imbalances, and a drop in overall domestic PV installed capacity. Moving forward, the company will continue to expand into overseas markets, increase the proportion of export revenue, and optimize the structure of its domestic and international sales businesses.
The overseas market has become the key focus for adjusting the company's module business. In the first half of 2026, Haitai Solar's export revenue surged by 53.27% year-on-year, and its share of total revenue climbed to 47.52%. The company stated that it consistently advanced its overseas channels and regional market layouts in the first half of the year. Previously established channels in regions like Southeast Asia and Africa have begun to yield results, achieving growth in both revenue and profitability for the overseas business.
For the second half of the year, the company will intensify its efforts to develop overseas customers, increase the proportion of export orders, and improve gross margin levels. It will accelerate the construction of ongoing power plant projects and promote the delivery and payment collection of EPC projects. In terms of the module business, the company will optimize its capacity layout and enhance production efficiency. Internally, the company will continue to reduce costs and control expenses, strengthen accounts receivable collection, lower inventory levels, and improve cash flow, while also optimizing its debt structure to ensure the security of its capital chain.
Source：EnergyTrend