aluminium show |Photovoltaic module aluminum profiles production and sales both increased, and Xinbo Aluminum's net profit is expected to increase by over 50%

According to data from the aluminum show, the demand for aluminum in the photovoltaic sector mainly comes from the consumption of aluminum frames for photovoltaic modules and photovoltaic brackets. It is estimated that the total domestic aluminum consumption in 2023 will be approximately 41.45 million tons, with aluminum consumption in the photovoltaic sector reaching 2.843 million tons. This accounts for nearly 7% of the total aluminum consumption, marking a 1.6 percentage point increase.

It is understood that Xinbo Aluminum previously planned to establish a production capacity of 120,000 tons of aluminum frames and 120,000 tons of recycled aluminum in Vietnam and Malaysia. These overseas factories are expected to start production in the second half of 2024. In December of last year, during investor research, Xinbo Aluminum disclosed that the Malaysia and Vietnam projects were in progress, with all work steadily advancing, aiming for early production.

Financial reporters have learned that among photovoltaic manufacturers, leading module manufacturers such as Longi Green Energy, JA Solar, JinkoSolar, Trina Solar, and East Solar all have module production capacity in Southeast Asia, offering significant market potential. Some market experts believe that Anhui Xinbo Aluminum's establishment of production bases in Southeast Asia allows them to be in close proximity to module manufacturers. Since overseas module sales command higher premiums, it is also expected that complementary materials can generate additional profits compared to the domestic market.