Alliance Consulting: In the first half of the year, the domestic penetration rate of N-type components reached 84%, an increase of 24% compared to the previous month.

According to the statistics of the Chinese photovoltaic industry bidding and procurement database by TrendForce, the domestic component centralized bidding capacity in the first half of 2024 is approximately 108GW, with the bidding capacity for N-type components reaching 90.3GW, accounting for 84%. This figure has increased by 24% compared to the second half of 2023. The penetration rate of N-type components continues to rise, and they have now taken the absolute mainstream position in the market, with the market share of P-type components decreasing significantly. In terms of monthly data, the domestic component bidding capacity in June 2024 was approximately 10.4GW, showing a continuous decline, mainly due to some small-scale centralized procurement, which indirectly confirms that domestic centralized demand is lower than expected. Among them, the bidding capacity for N-type components reached 8.56GW, accounting for approximately 82%. In terms of power, in the first half of 2024, there were approximately 108GW of component bidding in China, with 570W and above components being the mainstream, accounting for 74.6GW (69%) of the bidding scale. The bidding scale for components with 600W and above was 5.3GW (4.9%), with approximately 873MW explicitly bidding for components of 700W and above. In terms of single or double-sided selection, out of the 108GW of component bidding, the scale of explicitly bidding for double-sided components reached 62.6GW, accounting for approximately 58%, with the scale of bidding for double-sided double-glass components accounting for approximately 26.7% (28.8GW). Regarding bidding prices, in the first half of 2024, there were approximately 29GW of P-type component projects that opened for bidding (including some comprehensive quoted projects), with bidding prices ranging from 0.74 yuan/W to 0.978 yuan/W. With the continuous decline in upstream component prices, the opening prices for components also followed suit. In April, the average bid price for P-type components had dropped to 0.82 yuan/W, a decrease of 12% compared to December 2023. Additionally, there was a significant decrease in demand for P-type components, with no P-type component centralized procurement projects opening for bidding in May and June. Currently, the demand for opening projects mainly focuses on N-type TOPCon components. In the first half of 2024, there were approximately 111GW of N-type TOPCon component projects that opened for bidding, with bidding prices ranging from 1.18 yuan/W to 0.75 yuan/W. In June, there were approximately 3.35GW of N-type TOPCon component centralized procurement projects that opened for bidding, with bidding prices ranging from 0.77 to 0.90 yuan/W, and an average bid price of 0.811 yuan/W, a decrease of 1.34% compared to the previous period. In terms of bid results (including shortlisted candidates), the scale of the bid results and shortlisted candidates announced in the first half of 2024 reached 161.5GW, including the scale already awarded of 101.7GW, and the first shortlisted candidate scale of 59.8GW. Among the bid results for components (including awards and first shortlisted candidates), the four first-line companies of Jinko, Longi, JA Solar, and Canadian Solar had a bid scale of 64.7GW, accounting for 40%. The Top 10 component companies (Jinko, Longi, JA Solar, Canadian Solar, Trina Solar, Yingli Solar, CSI Solar Co., Ltd., Risen Energy, GCL System Integration Technology, and Chint New Energy) had a bid scale of 81.2GW, accounting for 50%.