100000 tons! Tongwei Signed a Capital Increase and Share Expansion Agreement with JYT Corporation and Jinkosolar
In order to further play their respective advantages, enhance cooperation and lead the healthy and sustainable development of photovoltaic industry, Tongwei announced after the closing of the market on November 3 that Yongxiang, a wholly-owned subsidiary of Tongwei, JYT and Jinkosolar jointly signed the "Agreement on Capital increase and Share Expansion of Sichuan Yongxiang Energy Technology Co., LTD.". The three parties will inject cash into the project company to increase the registered capital to 3 billion yuan, among which Yongxiang will add 1.52 billion yuan, Jing Yuntong 1.02 billion yuan and Jinkosolar 450 million yuan. After the capital increase and share expansion, Yongxiang will hold 51% share of the project company, While Jing Yuntong will hold 34% and Jinkosolar will hold 15%. This project is the first phase of the 200,000-ton polysilicon investment project announced by Tongwei Shares on July 1 this year.