PVTIME – Shanghai Tianyang HotMelt Adhesives Co.,Ltd.(603330.SH) (hereinafter referred to as Shanghai Tianyang) released an issue to raise a total of no more than 1.2 billion yuan, which will be used to build multiple photovoltaic film projects and supplement working capital. The total investment of the project is 1.585 billion yuan, and the proportion of raised funds is 75.72%.
Kunshan Tianyang Photovoltaic Materials Co., Ltd. has a total investment of 229 million yuan for a new photovoltaic film project with an annual output of 150 million square meters, and plans to use raised funds of 90 million yuan. Nantong Tianyang Photovoltaic Materials Technology Co., Ltd. has a total investment of 533 million yuan for the solar encapsulation film project and plans to use 400 million yuan of raised funds. Haian Tianyang New Material Technology Co., Ltd. has a total investment of 463 million yuan for a new photovoltaic film project with an annual output of 150 million square meters, and plans to use 350 million yuan of raised funds.
After the implementation of the above projects, Shanghai Tianyang will add a total of 60 photovoltaic film production lines, including 32 transparent EVA film production lines, 7 white synergistic EVA film production lines, and 21 POE/EPE film production lines.
Shanghai Tianyang stated that thes non-public investment projects are located in Kunshan, Nantong and Hai’an City, Jiangsu Province, which would be helpful for meeting the needs of customers from local and surrounding cities. Moreover, Nearby locations are positive for both the companies and customers in effective cooperation, product development and technological innovation.