PVTIME – Hangzhou First Applied Material Co., Ltd. (603806.SH), a company focuses on the research, development and production of new material, solar electricity station, international trade and intelligent equipment, announced that it intends to invest in 1.653 billion yuan on EVA/POE film for PV module and other three projects, in order to improve its core competitiveness and future profitability via enlarging its photovoltaic and electronic material business.
The company plans to launch solar EVA/POE film project with an annual output of 250 million square meters, with a total investment of about 549 million yuan for 3 years, a photosensitive dry film (high resolution) project with an annual output of 100 million square meters in 2.5 years, with a total investment of about 253 million yuan, a synthetic resin and additives project with an annual output of 61,450 MT in 3.5 years with a total investment of about 492 million yuan, and a flexible copper clad laminate production project with an annual output of 5 million square meters in 2.5 years with a total investment of about 359 million yuan. These 4 projects are in the early stages of preparation.
The company’s annual report 2021 shows that the company achieved a revenue of 12.858 billion yuan in 2021, a year-on-year increase of 53.20%. Its net profit reached 2.197 billion yuan, increasing 40.35% year over year. The photovoltaic film is the company’s core business, which accounted for 89.85% of its revenue, 92.83% of its profit.