(Yicai) May 24 -- Shares of QC Solar rose after the Chinese photovoltaic component supplier said it plans to invest USD13 million to build a plant in the United States.

QC Solar [SHE: 301278] jumped 2.6 percent to CNY40.53 (USD5.60) a share as of lunch break in Shenzhen today, after earlier rising by as much as 5.1 percent.

QC Solar will set up a project company in Texas with a registered capital of up to US13 million to develop, produce, and sell solar equipment components, the Suzhou-based firm announced late yesterday. The factory will produce connectors and junction boxes for PV and energy storage equipment, among others, it added.

The move aims to provide better services to QC Solar's end users, the company noted, without disclosing potential clients of its new plant. The project must still be approved by or registered at relevant government agencies, it added.

QC Solar did not address the potential impact of the US government's tariff hike on made-in-China solar cells and components to 50 percent from 25 percent on its overseas business.

QC Solar sold 85.02 million PV connectors and 62.68 million junction boxes last year, with the solar module businesses of India's Adani Group and South Korea's Hansol Group among its well-known overseas clients, according to its 2023 financial report. Its products have been used in PV power stations in many countries and regions, such as the US.

QC Solar's overseas revenue reached CNY497 million (USD68.6 million) last year, accounting for 39 percent of its total.

Editor: Martin Kadiev