1.862 Billion Yuan! MedicalSystem to Build 9GW Solar Cell Smart Factory

PVTIME – Suzhou MedicalSystem Technology Co., Ltd. (603990.SH), a Chinese national high-tech enterprise engaged in clinical informatics and digital hospital solutions, announced on 11th February 2023 that one of its wholly-owned subsidiaries named Xinhao New Energy has signed an investment agreement with the People’s Government of Mianyang City for the construction of a 9GW high-efficiency monocrystalline solar cell smart factory in Mianyang City, Sichuan Province of China, with a total investment of approximately 1.862 billion yuan.

This super-smart factory, which is designed with a research centre, automated production lines, testing, storage and logistics facilities, as well as supporting fixtures and auxiliary equipment, and offices, will be completed within 24 months right after the signing of the agreement. Then about 1,300 jobs will be available upon completion.

MedicalSystem planned to invest in N-type high-efficiency TOPCon cell manufacturing projects by leasing plants and purchasing equipment to officially enter the PV industry, which was announced in January 2023. Meanwhile, the Company acquired the shares of Xinhao New Energy as the main body to handle the new projects related to its new energy business.

These investments will diversify the business into medical information technology + specialised medical services + photovoltaic industry for MedicalSystem. And the new solar cell project is expected to promote the growth of the company’s revenue and profit, and can provide financial support and improve the overall competitiveness of the company, MedicalSystem stated.