On February 20, 2020, Akcome announced the “Akcome give up the 1.78 billion yuan acquisition of Vietnam solar and battery portfolio”.
On February 23, LONGi announced that its wholly owned subsidiary LONGI Solar intends to acquire 100% equity of Ningbo Jiangbei Yize new energy technology co., LTD., in cash and the transaction basis price is tentatively set at 1.78 billion yuan (including taxes and fees). And LONGi Solar will pay floating consideration based on the achievement of the performance of the target company or performance commitment party will pay performance compensation to LONGi Solar. The actual transaction amount shall be subject to the formal equity transfer agreement signed by the parties to the transaction.
It is reported that the registered capital of Ningbo Yize is 500,000 yuan and the company was established in 2014. The company’s main business is the production and sales of solar batterys and modules, as well as the existing plant leasing business. The company’s manufacturing base is in Vietnam and it has a number of holding companies. At present, Ningbo Yize has an annual capacity of over 3GW of solar batterys and over 7GW of solar modules.
According to the planning capacity calculated by the end of 2019, after the acquisition of Ningbo Yize, LONGi’s battery and module capacity will increase to 13GW and 23Gw respectively.If the acquisition is completed, LONGi’s module capacity is likely to exceed that of Jinkosolar, the world’s largest supplier of solar modules. Jinkosolar had 16GW of module capacity by the end of 2019.