The global demand for promoting the transition to clean energy is becoming increasingly clear, as evidenced by both installation targets and supportive policies, reflecting an optimistic outlook for the future of the PV market. Consequently, the most significant observation this year is the overall upward trend in overseas markets.

In the first half of this year, the preliminary calculation of China's PV product exports exceeded $29 billion, representing a year-on-year growth of approximately 13%, indicating a favorable overall export situation. The global PV market is gaining strong momentum, with the number of gigawatt-level markets worldwide expected to increase from 26 in 2022 to 32 in 2023.

Currently, we have achieved a global presence with partners in countries such as the United States, Japan, the Netherlands, Singapore, Thailand, Argentina, Poland, Jordan, Dubai, Vietnam, Malaysia, the Philippines, and South Korea, supporting the steady acceleration of our "going global" strategy.

The global market offers extensive space, and each market's development and application environments are different, presenting challenges for PV mounting structure companies looking to "go global." Beyond expanding the business scope, "going out" involves rapidly integrating into emerging markets, establishing competitive advantages, meeting market needs, and maximizing mutual benefits.

Since entering the international mounting structure market in 2021, FarSun has accumulated extensive experience in overseas project execution and achieved sales coverage in over 20 countries worldwide. The company possesses robust project management and execution capabilities, ensuring the ability to meet diverse project requirements in the international market. Height and selection of mounting structures must adhere to customized models to maximize electricity generation for different application scenarios.

Given the promising outlook in international markets, the future "going global" strategy of Chinese PV mounting structure companies presents even greater development opportunities. For FarSun, the foremost priority is to persist in independent innovation and prioritize quality. Currently, the Chinese PV industry leads globally, and maintaining its leading position requires fundamental product and technological capabilities. Therefore, continuous investment in technological research and development, improved product quality, and the expansion and strengthening of independent brands are essential, aiming to establish a more positive brand image on the international stage and enhance influence and competitiveness in the global market. Additionally, ongoing attention to various countries' PV industry-related trade policies and timely market monitoring is crucial.

The International Energy Agency predicts that China's scale advantage in the PV industry chain is difficult to shake in the short term. It is expected that by 2024, the various elements of the Chinese PV industry chain will continue to dominate the global capacity increment and stock throughout the supply chain layout of the global PV industry, possibly even further increasing its proportion.