Recently, Tianhe Photovoltaic released an announcement that the company signed the "Memorandum of Understanding on Tianhe Photovoltaic UAE Project" with AD Ports and Jiangsu Overseas Cooperation and Investment Company at the Third "Belt and Road" International Cooperation Summit held in Beijing, China. This memorandum is a non-binding document and does not require submission to the company's board of directors and shareholders' meeting.

According to the memorandum, the company intends to invest and build a vertical integrated base project in the demonstration park and Halifa Economic Zone, including the photovoltaic industry chain of silicon material, silicon wafer, battery and component. The planned capacity includes 50,000 tons of silicon material, 30GW of silicon wafers and 5GW of battery components, which will be constructed in three phases. This will further promote the layout of Tianhe Photovoltaic's photovoltaic industry chain in the Middle East and promote the construction of Tianhe's overseas industrial parks.