On the evening of April 10, JA Solar issued a private placement announcement, the company plans to raise no more than 5.2 billion yuan, which will be used for the annual production of 5GW of high-efficiency batteries and 10GW of high-efficiency modules and supporting projects as well as supplement of working capital. The reporter noted that in the “last year of photovoltaic subsidies “, the major photovoltaic enterprises have been continuously raising the quota of related projects, analysts also pointed out that the in 2020 Chinese market May usher in the” ultimate rush to install “.
In particular, 3.7 billion yuan will be used for the annual production of 5GW of high-efficiency batteries and 10GW of high-efficiency modules and supporting projects, 1.5 billion yuan will be used to supplement the working capital.
The number of shares in the non-public offering is calculated by dividing the total amount raised by the offering price and does not exceed 30 percent of the total share capital of the pre-ipo company, or about 403m shares, JA said.
JA Solar is a manufacturer of high performance photovoltaic products with an industrial chain covering silicon wafers, batteries, modules and photovoltaic power stations.
One of the fund-raising investment projects is the annual production of 5GW high-efficiency batteries and 10GW high-efficiency modules and supporting projects, mainly producing high-efficiency monocrystal PERC bifacial batteries and high-efficiency monocrystal PERC bifacial modules, which is an important part of the company’s continuous improvement of advanced production capacity in the future.
JA said that the implementation of this project will help the company to improve the scale of production capacity and market share, further strengthen the effect of scale, enhance the competitiveness of the enterprise, conducive to the future sustainable development.