1. China's CRRC Corp., the world's largest supplier of rail transit equipment, has won the largest supply deal of 50 diesel multiple units in Argentina's history. CRRC International Corp. has inked a contract of 50 DMUs with Argentina's national railway company, the Beijing-headquartered firm announced on WeChat yesterday without disclosing details about the value of the deal nor the delivery schedule.
2. New record! China's Yuejin 3-3 well in Tarim Basin became the deepest well in Asia as it reached its target depth of 9,432 m on Wednesday after 170 days of drilling through 9 strata. Meanwhile, the evaluation of the oil and gas reservoir is underway.
3. Chinese wind power firm Sany Renewable Energy intends to invest CNY6.5 billion (USD896 million) to build a green ammonia digital demonstration project in China's northeastern Jilin province. The project will use wind and solar power to produce renewable hydrogen, which will be used to synthesize green ammonia, the Beijing-based firm said in a statement yesterday. The green ammonia produced will also be used to store hydrogen.
4. On Nov. 15, according to the National Bureau of Statistics of China, in October 2023, 19 billion cubic meters of natural gas was produced in the country, up 2.6% YoY, with an average daily output of 610 mln cubic meters; 8.79 mln tons of natural gas was imported, up 15.5% YoY. From Jan. to Oct. 2023, 189.6 bln cubic meters of natural gas were produced, up 6.1% YoY; 96.51 mln tons of natural gas were imported, up 8.8% YoY.
5. On Nov. 15, according to the National Bureau of Statistics of China, in October 2023, 17.33 million tons of crude oil were produced in the country, up 0.5% YoY, with an average daily output of 559,000 tons; 48.97 million tons of crude oil were imported, up 13.5% YoY. From Jan. to Oct. 2023, 174.05 million tons of crude oil were produced, up 1.7% YoY; 473.22 million tons of crude oil were imported, up 14.4% YoY.
6. China's power generation grew 5.2% YoY to 704.4 billion kWh in October, official data showed Wednesday. Among them, thermal power is up 4% YoY; Hydropower is up 21.8% YoY; Solar power is up 15.3% YoY; Nuclear power is down 0.2% YoY; Wind power is down 13.1% YoY.
7. On Nov. 14, Canadian Solar announced its financial report for the third quarter of 2023: photovoltaic module shipments were 8.3 GW, a year-on-year increase of 39%. Sales were US$1.85 billion (CNY 13.26 billion), with a gross profit margin of 16.7%.
8. On Nov. 14, at the 6th China International Photovoltaic Industry Conference, Tongwei and Trina Solar signed a cooperation agreement. The two parties plan to further carry out in-depth joint venture cooperation in the photovoltaic modules, silicon materials and cell industry chain.
9. Xiaomi's EV factory in Beijing started small-volume trial production and has already produced dozens of vehicles, National Business Daily reported today, citing people familiar with the matter. The plant will start mass production at the end of the year to prepare for the EV launch in February.
10. Maerdang hydropower station, the highest-altitude facility of its kind on the upper reaches of the Yellow River was officially closed for water storage in Maqen County, Guoluo Tibetan Autonomous Prefecture, Qinghai Province, on Nov. 14, 2023 and is expected to begin operations in March 2024.