Golden Sun New Energy Targets 20GW Capacity by 2026 with HBC Cell Efficiency at 27.5%

Golden Sun New Energy Technology Holdings Limited reported total revenue of approximately RMB 155 million for the year ending December 31, 2025, marking a 38.8% decrease. Revenue from photovoltaic products fell to RMB 10.29 million, down 73.3% year-on-year.

The company is shifting its focus from traditional module manufacturing to high-efficiency HBC cell technology, achieving an average conversion efficiency of over 27.5% on partner pilot production lines. In 2026, Golden Sun anticipates forming 20GW of production capacity through strategic partnerships, including agreements with LONGi, JA Solar, Tongwei Solar, and Fujian Golden Stone Energy. A subsidiary for silver-copper paste and insulating ink will be established to support this business model, enhancing revenue through technology licensing and raw material sales.