From Energy 1

As Energy 1 has learned, the RMB 12 billion convertible bond of Tongwei Co., Ltd. has been successfully issued on IPO, and the raised fund will be mainly used for expanded production of silicon material and silicon wafer. For the Leshan High-purity Crystalline Silicon Project Phase 2 for which the planned investment is approx. RMB 4 billion, RMB 2.6 billion of the raised fund will be used to build a new PV polycrystalline silicon plant with 50,000t/a capacity and an electronic grade polycrystalline silicon plant 1,000t/a capacity. For the Baotou High-purity Crystalline Silicon Project Phase 2 for which the planned investment is approx. RMB 4.1 billion, RMB 3 billion of the raised fund will used to build a new polycrystalline silicon plant 50,000t/a capacity. RMB 2.9 billion of the raised fund will be used for the 15GW Monocrystalline Drawn Bar Project for which the planned investment is RMB 4.4 million. The remaining RMB 3.5 billion will be used to replenish the working capital.