Chairman Wu Fei: Focusing on OEM|ODM services & sharing production capacity

On November 19, 2024, the 7th China International Photovoltaic and Energy Storage Industry Conference and PV Power Station “New” and “Quality” Forum was held in Chengdu. Mr. Wu Fei, founder and chairman of Shanghai Daode Investment (DDI) and JinenU Solar, was invited to attend the forum and delivered his speech on“PV Power Station and Power Market Reform”.

During the forum, Wu Fei firstly reviewed the deep plowing history of DDI in the field of PV. Since its establishment in 2014, DDI has focused on the PV track, and during the past ten years, its investment projects have covered the whole life cycle of the entire PV industry chain, with a cumulative investment of more than 10 billion dollars. 

He mentioned that DaoDe Investment not only invested in PV power plants, but also participated in the development, construction and operation and maintenance of 14 large-scale ground power plants, which were successfully sold to centralized enterprises in 2019. During his years of investment experience, he gained a deep insight into the status quo of product homogenization in the PV industry and came up with the idea of creating a PV foundry.

“After investing in the PV industry for so many years, I found that the homogenization of equipment and products in this industry is very serious, and we need to have a Foxconn in the PV industry.” In 2020, Wu Fei founded JinenU Solar, committed to become the “Foxconn” in the PV industry. Since the start of production in August 2021, JinenU Solar has taken small steps forward and has 20GW production capacity in 6 production bases, and has quickly won recognition in the industry by virtue of its innovative model of sharing production capacity. 

Mr. Wu Fei introduced in detail the OEM|ODM model of JinenU Solar in the forum. JinenU Solar does not provide brands, but only focuses on the production process, and meets customers' needs through two types of OEM and ODM modes. This flexible and diversified OEM mode not only reduces customers' production costs, but also improves the production efficiency.

When talking about the problem of overcapacity in the PV industry, Wu Fei said that as the PV industry enters the era of micro-profit, the scale of idle capacity is getting bigger and costlier. As a professional foundry service provider, JinenU Solar is fundamentally providing a solution to the industry's overcapacity by providing shared production capacity. He emphasized that JinenU Solar's business model not only improves capacity utilization, but also reduces customers' production costs. 

At the end of the forum, Wu Fei also shared JinenU Solar's business model and future plans. He said, “JinenU Solar's business model is still in the introductory stage, but we have already seen recognition and support from the industry. In the next three years, the capacity scale of JinenU Solar will reach 50GW, striving to become the preferred foundry partner of global PV companies.”