On the evening of March 17, Tianjin Zhonghuan Semiconductor Co., Ltd. announced that it plans to further adjust the capital increase to the holding subsidiary of Inner Mongolia Zhonghuan GCL photovoltaic material co., LTD. (hereinafter referred to as “Zhonghuan GCL”), in which the company’s capital increase to Zhonghuan GCL from 1.12 billion yuan to 1.6 billion yuan, the subsidiary Suzhou GCL from 480 million yuan to 0 yuan.
The announcement said that on July 26, 2019, the fifth board of directors held by the company deliberated and passed the “proposal on adjusting the capital increase to Inner Mongolia Zhonghuan GCL photovoltaic material co., LTD.”, and agreed that the company would increase the capital by 1.12 billion yuan to Zhonghuan GCL, and Suzhou GCL would increase the capital by 480 million yuan to Zhonghuan GCL.
Announcement showed that Zhonghuan GCL is the main body of the fifth phase of the industrialization project of monocrystalline silicon materials for solar cells.This further adjustment will increase the capital to Zhonghuan GCL, and the increased capital and fund will be paid promptly, which is conducive to promoting the construction speed of the fifth phase project, accelerating the capacity leasing of 210 large size silicon, optimizing the supply structure of photovoltaic market product, increasing the share of G12 silicon wafer products in the photovoltaic market, reducing the cost of photovoltaic power generation, and accelerating the process of realizing parity online.
