China PV News Snippets: DK Electronic, GCL, Xinyi Energy

DK Electronic 2020 Profit Rise By 16.1%; Qingdao Gaoce Wire Supply Deal With GCL; Xinyi Energy Completes Acquisition of 3 PV Power Plants For RMB 442.7 Mn
11:07 PM (Beijing Time) - 19. February 2021
Xinyi Energy acquires 3 PV power plants

With Xinyi Energy completing the acquisition of three photovoltaic power plants of Xinyi Solar for RMB 442.7 million, East Shine Investments Limited, Great Power Investments Limited, Huainan Xinyi Renewable Energy Limited, Xinyi Renewable Energy (Huaibei) Limited, and Zaoqiang County Huisheng Renewable Energy Limited become its wholly owned subsidiaries. (Photo Credit: Xinyi Energy)

Key Takeaways

  • DK Electronic Materials achieves a year-on-year increase of 21.71% in its operating income
  • Qingdao Gaoce Technology enters into an agreement with Suzhou GCL Photovoltaic Technology and its designated affiliates for long-term purchasing of electroplating cell diamond wire
  • Xinyi Energy completes the acquisition of 3 photovoltaic power plants of Xinyi Solar for RMB 442.7 million

DK Electronic Materials 2020 profit rise by 16.1%: Disclosing its 2020 annual performance report, Chinese silver paste maker for cell contacts, DK Electronic Materials said that during the reporting period, it has achieved a year-on-year increase of 21.71% in its operating income. The net profit attributable to shareholders of listed companies was RMB 82.08 million ($12.65 million), a year-on-year increase of 16.10%. For background on silver paste check our TaiyangNews survey (see Market Survey Metallization Pastes 2019/20).

Qingdao Gaoce diamond wire supply deal with GCL: In an announcement, Qingdao Gaoce Technology said that it has entered into an agreement with wafer producer Suzhou GCL Photovoltaic Technology Co., Ltd. and its designated affiliates for long-term purchasing of electroplating cell diamond wire to the tune of RMB 251 million ($38.69 million) for the period from March 1, 2021 till February 28, 2023.

Xinyi Energy completes acquisition of 3 PV power plants of Xinyi Solar for RMB 442.7 million: China solar power plant operator Xinyi Energy announced that it has fulfilled all the conditions required by the Solar Farm (Group 2A) Agreement. This means that now each of the Target Members (Group 2A), which are – Xinyi Solar Farm (Group 6) Limited, East Shine Investments Limited, Great Power Investments Limited, Huainan Xinyi Renewable Energy Limited, Xinyi Renewable Energy (Huaibei) Limited, and Zaoqiang County Huisheng Renewable Energy Limited – have become wholly-owned subsidiaries of the Company with the financial results of the Target Members (Group 2A) to be consolidated into the financial results of the Group. According to the unaudited consolidated financial information, the agreed purchase price of is RMB 442.7 million ($68.25 million).

 

Meena Nair

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Meena Nair