EnergyTrend has learned that on August 25, Hoshine Silicon, Risen Energy, and Jolywood released their 2026 semi-annual reports. In addition to disclosing operational performance, each company highlighted progress in new technologies, such as silicon-based materials, HJT heterojunction, and Namic silver reduction.
Hoshine Silicon: H1 Revenue Exceeds RMB 10 Billion, Turning a Profit
On August 25, Hoshine Silicon released its 2026 semi-annual report. In the first half of 2026, Hoshine Silicon achieved operating revenue of RMB 10.160 billion, a year-on-year increase of 3.94%; net profit attributable to shareholders of the parent company was RMB 324 million, turning a profit year-on-year.
According to the report, Hoshine Silicon's operating conditions improved significantly in H1 2026, primarily due to higher capacity utilization of industrial silicon driving growth in production and sales volume, alongside an optimized supply-demand landscape in the organosilicon industry lifting gross margins.
As of the end of June, Hoshine Silicon had an annual capacity of 1.22 million tons of industrial silicon, 1.73 million tons of organosilicon monomer, and 50,000 tons of polysilicon.
Risen Energy: H1 Net Loss of RMB 820 Million
On the same day, Risen Energy released its 2026 semi-annual report. In the first half of the year, Risen Energy achieved revenue of RMB 4.021 billion, down 45.97% year-on-year; net profit attributable to shareholders of the parent company showed a net loss of RMB 820 million, compared to a loss of RMB 679 million in the same period last year, widening the loss; non-GAAP net loss was RMB 877 million.
The semi-annual report shows that Risen Energy is deeply focused on the R&D and upgrading of its Hyper-ion HJT products. By optimizing production processes and iterating core technologies, the company's non-silicon manufacturing cost for HJT cells has dropped to as low as RMB 0.15/W.
As of the release date of the report:
- Risen Energy's HJT cell conversion efficiency exceeded 27%;
- HJT module conversion efficiency exceeded 24.70%, with first-year degradation not exceeding 1.00% and annual power degradation from the 2nd to 30th year not exceeding 0.3%.
In terms of the PV business, relying on HJT cell technology, Risen Energy launched ultra-low-carbon 210 HJT Hyper-ion series products. Process-wise, it adopts unique low-temperature double-sided passivated contacts, Hyper-Link stress-free interconnection technology, and double-sided microcrystalline technology; material-wise, it uses 210 half-cut thin silicon wafers, low-silver paste, steel frames, and other materials.
Regarding capacity, in H2 2026, Risen Energy will proceed as planned with bringing HJT capacity online, including the 15GW N-type ultra-low-carbon high-efficiency HJT cell and 15GW high-efficiency solar module project in Ninghai, Zhejiang, and the 4GW high-efficiency solar cell and 6GW high-efficiency solar module project in Jintan, Jiangsu.
Currently, Risen Energy's energy storage system integration business focuses on utility-scale energy storage products. Products under its controlling subsidiary, Shuangyili, cover BMS, PCS, EMS, DC-side integrated systems, and medium-voltage integrated systems.
Risen Energy's energy storage products have been successfully delivered to over 900 projects worldwide, including multiple hundred-megawatt-scale large energy storage projects, with market coverage across Europe, the Americas, Asia-Pacific, Africa, and other regions. The company will continue to vigorously advance its energy storage business.
Jolywood: H1 Loss of RMB 345 Million
Jolywood's 2026 semi-annual report shows that in the first half of the year, it achieved revenue of RMB 1.166 billion, down 64.71% year-on-year; net profit attributable to shareholders of the parent company showed a loss of RMB 345 million; non-GAAP net loss was RMB 377 million.
During the reporting period, Jolywood launched its self-developed Namic technology built over several years. Featuring an aerospace-grade nano-armor layer at its core, this technology reconstructs the PV metallization route by substituting silver with aluminum, driving cells toward reduced-silver and even silver-free evolution, thereby lowering metallization costs in cell manufacturing.
According to the report, Jolywood's Namic technology outlines a development roadmap from 1.0 to 3.0:
- Namic 1.0: Uses silver paste on the front side and aluminum paste on the back side of TOPCon cells, reducing silver consumption by approximately 35%;
- Namic 2.0: Optimizes cell and module packaging technology based on 1.0, reducing silver consumption by approximately 60% and further increasing module power output;
- Namic 3.0: A silver-free BC cell and module technology product, replacing silver grid lines entirely with aluminum, significantly reducing the metallization cost of BC products.
Currently, some TOPCon production lines at Jolywood's Taiyuan cell manufacturing base in Shanxi are gradually undergoing technical upgrades for Namic 1.0 silver reduction. The report indicates that as of the end of the reporting period, the company's cumulative shipments of backsheet products exceeded 295 GW.
Source：EnergyTrend
