According to Wechat Official Account @DNE, on April 15, Boway Alloy released its 2024 Annual Report.
According to the report, in FY2024, Boway Alloy realized operating revenue of 18.655 billion yuan, up 5.06% year-on-year, and net profit attributable to the mother amounted to 1.354 billion yuan, up 20.47% year-on-year.
In the report, Boway Alloy also disclosed the latest progress of two key construction projects in the photovoltaic segment.
Among them, Boviet Solar (Hai Duong, Vietnam) with an annual production capacity of 3GW TOPCon cell project was originally planned to be put into production in the fourth quarter of 2024, however, due to the natural disasters in the region and the impact of the United States' double-reverse tariffs on the four countries in Southeast Asia, the company has taken the initiative to adjust the business strategy and appropriately slowed down the speed of the project construction.
Boway Alloy disclosed in its annual report that the project has completed the construction work, the commissioning of the main equipment has been completed, and has now entered the trial production stage.
Previously on April 23, 2024, Boway Alloy released an announcement, disclosing for the first time the information related to the annual production capacity of 3GW TOPCon cell expansion project in Vietnam. The announcement shows that the project is expected to invest a total of about 1.058 billion yuan, by Boviet Solar Technology Co., Ltd. (Hai Duong) .
It is worth noting that at the time of the announcement, the project has successfully completed the investment research and program demonstration and started the project construction. The project construction cycle is planned for 12 months.
In addition for Vietnam 3GW TOPCon battery project, Boway Alloy said, will meet the U.S. component factory as well as Vietnam component factory supporting demand. And the module products will all be sold to the United States.
Meanwhile, Boviet Solar (North Carolina, U.S.A.) has also made new progress in its annual production capacity of 2GW TOPCon modules and 2GW TOPCon cells. 2GW TOPCon modules project has completed its infrastructural construction work, the installation and commissioning of the production line equipment has been completed, and the production is now in the process of trial production, and is expected to be officially put into production in April.
The 2GW TOPCon cell project is progressing steadily. As of April 15, 2025, the project has completed the building construction design and construction permit formalities, the construction of the plant has commenced, the contract for the main equipment has been signed, and the rest of the work is progressing according to plan.
Previously, on April 23, 2024, Boway Alloy issued an announcement, officially disclosing for the first time its plan to invest in the construction of 2GW TOPCon modules and 2GW TOPCon cells in the United States.
According to the announcement, the project is expected to invest a total of about 2.092 billion yuan, and the main body of the project is Boviet Solar USA Ltd. It should be noted that the construction cycle of 2GW TOPCon module project is 12 months, and the construction cycle of 2GW battery project is 30 months.
Source：https://mp.weixin.qq.com/s/3I0NOBD_N-8CtZgqiGpiNg