100000 tons! Tongwei signed an agreement to increase capital and shares with Beijing Express and Jingke Energy.

In order to give further play to their respective advantages, enhance cooperation, and lead the healthy and sustainable development of the photovoltaic industry, Tongwei shares issued a notice after the close of trading on November 3. Yongxiang shares, a wholly owned subsidiary of Tongwei shares, jointly signed the "Capital increase and share expansion Agreement of Sichuan Yongxiang Energy Technology Co., Ltd." with Beijing Express and Jingke Energy. The three parties will inject capital into the project company in the form of cash, increasing the registered capital to 3 billion yuan, including 1.52 billion yuan for Yongxiang shares, 1.02 billion yuan for Jingyun Express and 450 million yuan for Jingke Energy. After the completion of the capital increase and share increase, Yongxiang holds a 51% stake in the project company, Jingyun Tong holds a 34% stake, and Jingke Energy holds a 15% stake. This project is the first phase of the 200000 tons of polysilicon investment project announced by Tongwei shares on July 1 this year.

According to the latest statistics of the Silicon Industry Branch, thanks to the strong market demand downstream of the photovoltaic industry, the price of polysilicon has soared all the way this year, and the average price per ton has reached 271800 yuan / ton. In the extreme shortage of polysilicon, Tongwei shares Leshan Phase II 51000 tons as scheduled, Baoshan Phase I 50, 000 tons will be put into production before the end of the year, 100000 tons new project also started quickly. It is worth noting that Tongwei has also won the heavy participation of two important partners in the photovoltaic industry, Jingyun Express and Jingke Energy, which has once again set a new example for the coordinated development of the upstream and downstream of the photovoltaic industry.

In this tripartite cooperation, the project company is controlled by Yongxiang shares, a wholly-owned subsidiary of Tongwei, and the management of the project company follows the management decision-making management system of Yongxiang shares. After the project company is put into production, Jingyun Tong and Jingke Energy must purchase polysilicon materials from the project company on a monthly basis according to twice the actual output corresponding to their respective rights and interests, and the project company must also provide Beijing Express and Jingke Energy with polysilicon materials corresponding to twice the actual output of their rights and interests on a monthly basis. On the premise of meeting the above-mentioned agreement, the silicon prices provided by the project company and Yongxiang shares to Jingyun Express and Jingke Energy are priced in accordance with the market principle and the market situation in the same period.

It is not difficult to see that this industrial chain cooperation model has been quite mature, Longji shares and Tianhe Solar Energy respectively invested in Yongxiang shares of the Baoshan Phase I project and Baotou Phase II project. This also stems from the recognition of Yongxiang's fine management ability in the polysilicon track. At the same time, photovoltaic downstream enterprises, in the deep cooperation with Tongwei shares, on the one hand can ensure the security of the supply chain, while enjoying the high returns of investment projects, it can be said to kill two birds with one stone.

It is reported that the Leshan 100000-ton polysilicon project is scheduled to be put into production by the end of December 2022, when Tongwei's polysilicon production capacity will reach 330000 tons. Tongwei shares mentioned that through the equity cooperation of polysilicon production capacity, the company has established a good cooperative relationship with upstream and downstream enterprises in the industry, which is conducive to ensuring the stable sales of the company's high purity silicon products and constantly increasing its market share. continue to consolidate the company's leading edge in high-purity silicon business.

Tongwei shares also said that in the process of the development of the photovoltaic industry, Tongwei has always advocated the industry ecology of professional division of labor and mutual cooperation, and has always believed in mutual respect, mutual achievement, mutual recognition and complementary advantages. in order to build a more benign industry ecology. In the future, Tongwei will continue to fully participate in the healthy ecological building of the coordinated development of the industrial chain, provide all kinds of high-quality products for the whole industry, and join hands with the whole industry to participate in differential participation and misplaced competition. to achieve sustained, healthy, stable, coordinated and efficient development of the industry, and jointly promote the early realization of the global energy revolution and the goal of carbon neutralization!