PVTIME – Jiangsu Tonglin Electric Co., Ltd. (hereinafter referred to as “Tonglin Electric” or the “company”) , a company specialized in R&D and manufacturing of PV connection systems (PV module junction boxes, connectors, wiring harnesses, PV soldering ribbons, inverters), announced that it has listed on the Growth Enterprise Market of the Shenzhen Stock Exchange on December 10, stock code: 301168. The number of the company’s public offering on the GEM is 30 million shares, and the issue price is 39.08 yuan per share.
Tonglin Electric said that the company’s capacity utilization rate is saturated, and expansion is necessary and reasonable. In order to solve the bottleneck of the company’s existing production capacity and meet the needs of future business expansion, the company urgently needs to expand the production site and increase the investment in production equipment to enhance the company’s product supply capacity.
According to the prospectus disclosed by Tonglin Electric on December 6, 2021, the company intends to raise 840 million yuan, which will be used for photovoltaic junction box technological transformation and Project expansion, upgrade, informatization, and supplementary working capital.
Tonglin Electric is one of the largest enterprises in the photovoltaic junction box industry in China. It is specialized in R&D and manufacturing of PV connection systems (PV module junction boxes, connectors, wiring harnesses, PV soldering ribbons, inverters), PV power stations, electrical equipment (cable trays, bus ducts, switch cabinets), cables & wires, and industrial automation solutions.