On May 30, Yingkou Jinchen Machinery Co.,Ltd., a leading photovoltaic (PV) equipment manufacturer, announced that it plans to establish a wholly owned Malaysian subsidiary, “Jinchen Malaysia,” through its wholly owned subsidiary Jinchen Singapore Pte. Ltd. The total investment for the project is USD 6.5 million, funded by the company’s own or self-raised capital. The investment will be made in stages, in line with the progress of its overseas operations.
The Malaysian subsidiary represents another key milestone in Jinchen's global expansion strategy. It will be responsible for the localized production, sales, and technical services of PV module and cell equipment, directly serving emerging markets such as Southeast Asia and the Middle East. The establishment of the new company marks a critical step in Jinchen’s internationalization, aiming to bring it closer to Southeast Asian customers, improve service responsiveness, and further enhance its global competitiveness in PV equipment.
Two Core Drivers Behind Overseas Expansion
Recent U.S. tariffs on Southeast Asian PV products have accelerated localization efforts among Chinese companies, with Malaysia emerging as a strategic “launchpad” for PV equipment makers due to its mature industrial chain and geographical advantages.
Rising Need to Bypass Trade Barriers: Particularly following the U.S. decision to reinstate tariffs on PV products from four Southeast Asian countries starting in June 2024, Chinese PV manufacturers are expediting their transition to localized production.
Critical Window for Technological Upgrades: It is projected that N-type cells will account for over 65% of global production capacity by 2025. In this context, new Southeast Asian facilities are generally adopting TOPCon/HJT technology routes, fueling strong demand for high-end equipment.
With over 20 years of expertise in PV equipment manufacturing, Jinchen is evolving its overseas strategy from equipment exports to localized capacity building. Its tubular PECVD equipment for TOPCon cells has already been validated on mass production lines of leading players such as JinkoSolar and Risen Energy. The Malaysian facility is expected to provide rapid technical support for local customers undergoing upgrades.
Over 20 Years of Expertise and Technological Leadership
Jinchen originated as the Zhanqian Aluminum Equipment Factory in Yingkou City, founded in 1996, initially focusing on aluminum window and door processing equipment. In 2003, the company seized the rise of the solar industry and successfully pivoted to PV module equipment, gradually becoming a domestic leader in automated production lines for PV modules and solar cell manufacturing equipment.
Jinchen went public on the Shanghai Stock Exchange’s main board in 2017. Leveraging its core strengths in vacuum coating, automation, and intelligent equipment solutions, its products have been widely applied across the global new energy industry chain, now serving over 250 new energy enterprises in more than 20 countries and regions.
In recent years, Jinchen has significantly increased investments in core PV technologies and emerging fields. Since 2021, the company has been developing perovskite cell and hydrogen production equipment and in 2023 established two subsidiaries to focus on R&D in these areas. It has also expanded production capacity by building an intelligent manufacturing base in East China and advancing the industrialization of high-efficiency cell PVD equipment.
Additionally, Jinchen has set up subsidiaries in overseas markets such as the United States and India to strengthen its global service network. In terms of technological innovation, the company allocated 7.62% of its revenue to R&D in 2024, with a focus on perovskite coating, tandem cell technology, and hydrogen production equipment. To date, it has obtained 742 patents, including 282 invention patents. It has also achieved domestic substitution for HJT and TOPCon equipment, with its HJT full-line equipment currently in the testing phase, aiming to break foreign technological monopolies.
Source：https://mp.weixin.qq.com/s/dzFsKXGhZBO_ZPHq-Q0m2A
