1.002 Billion Yuan! Wetown to Launch Energy Storage and PV Welding Projects

PVTIME – On December 1st, Wetown Electric Group Co., Ltd. (688226.SH), a China-based company mainly engaged in intelligent manufacturing system and complete industrial chains in busway industry, disclosed that it intends to issue no more than 39 million shares to no more than 35 specific objects to raise no more than 1.002 billion yuan, for energy storage project, intelligent PV welding project, and supplement the working capital.

According to the announcement, the company plans to launch an energy storage project with an annual output of 5GWh, an intelligent PV welding system with annual output of 25,000 MT of PV products.

It is expected to further optimize the company’s product structure, expand the its production and operation scale, improve the Wetown’s core competitiveness.