PVTIME – On January 12, Tianjin Zhonghuan Semiconductor Co., Ltd. (hereinafter referred to as Zhonghuan or the Company) issued an announcement on the capital increase in its subsidiary.
The Company’s holding subsidiary Wuxi Zhonghuan Applied Materials Co., Ltd. (hereinafter referred to as “Zhonghuan Applied Materials”), as the main body of the project invested in the construction of the Yixing Phase IV Smart Factory Project with an annual output of 30GW of high-purity solar ultra-thin silicon monocrystalline materials (referred to as “DW Phase IV” ), will add an annual production capacity of 30GW of solar photovoltaic wafers (G12).
Upon the completion of the investment, the planned production capacity of G12 wafers will exceed 105GW (including more than 50GW in Tianjin City, more than 25GW in Inner Mongolia Region, and more than 30GW in Jiangsu Province) which will increase the production capacity of high-quality materials and promote the development of photovoltaic industry in China.
In order to meet the financing requirement, the Company’s wholly-owned subsidiary Tianjin Huanou Semiconductor Materials Technology Co., Ltd. (hereinafter referred to as Tianjin Huanou) will transfer its capital RMB 1,250 million to Zhonghuan Applied Materials.
Then the registered capital of Zhonghuan Applied Materials will be changed from 1.35 billion yuan to 2.600 million yuan, of which Tianjin Huanou holds 98.08% and Yixing Venture Park Technology Development Co.,Ltd. holds 1.92%. In order to meet the above-mentioned capital increase needs, the Company plans to increase the capital of Tianjin Huanou by 1.25 billion yuan. Therefore, the registered capital of Tianjin Huanou will be changed from 2,675.52 million yuan to 3,925.52 million yuan, and the shares of Tianjin Huanou holding by the Company will remain 100% after the capital increased.