PVTIME – On March 2, Hunan Yujing Machinery Co., Ltd. (002943.SZ) announced that it will terminate the Investment Agreement signed with Nantong Youtuo New Energy Technology Co., Ltd. and Xinghua Haofa Photovoltaic Equipment Co., Ltd. for silicon wafer.
The three parties planned to jointly fund a holding subsidiary in Taiyuan City, China, manufacturing large-size silicon ingots and monocrystalline silicon wafers with a registered capital of 200 million yuan in last October.
As of the announcement date, the holding subsidiary has not yet been established. Hunan Yujing Machinery stated that the planned project is high-energy consuming while the energy consumption index of the proposed location is not sufficient for it. After in-depth analysis of the development of the photovoltaic industry and consideration of the company’s development strategy, Hunan Yujing Machinery would like to focus on its main business which involving high-hardness and brittle materials cutting, grinding, polishing and diamond cutting lines rather than the silicon wafer investment.
Hunan Yujing Machinery expects its technical advantages and supporting synergy advantages in aspects such as cutting technology to be conducive to expanding and improving the company’s overall layout in the photovoltaic industry chain and further improving the company’s operating performance.
 announced that it will terminate the Investment Agreement signed with Nantong Youtuo New Energy Technology Co., Ltd. and Xinghua Haofa…){kind=link}