TCL Zhonghuan Subsidiary Plans to Sell Malaysian PV Plant for $51 Million

Published: Jan 26, 2026 09:53

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[SMM News] PV leader TCL Zhonghuan (002129.SZ) announced that its subsidiary Maxeon Solar Technologies (Maxeon), through its wholly-owned subsidiary SPT, has signed a share sale agreement with MFSS, a Singapore-based company under Shenghong Technology (300476.SZ), to sell 100% equity in its Malaysian PV manufacturing plant SPMY for up to $51 million. Upon completion of the transaction, SPMY will no longer be included in TCL Zhonghuan’s consolidated financial statements.

Following the acquisition, SPMY will be integrated with Shenghong Technology’s existing production site in Malaysia, further expanding overseas capacity, rapidly meeting customers’ overseas delivery needs, enhancing global supply capability, and is expected to drive order growth for domestic factories.

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