PVTIME – Royal Group Co., Ltd. (002329.SZ), a China-based company principally engaged in the production and sale of packed milk and dairy products, released an announcement on August 22 that it has signed a Cooperation Framework Agreement with a Management Committee of Anhui Province, China, to invest in TOPCon high-efficiency solar cell and solar module projects as well as deep processing project for dairy product.
According to the announcement, Royal Group intends to launch a TOPCon high-efficiency solar cell project with an annual output of 20GW and solar module project with an annual output of 2GW.
The company stated that it is expected to achieve an annual sales of no less than 1.7 billion yuan and an annual tax of no less than 40 million yuan as the first part of its first phase 2GW of the TOPCon project reaching production. And for the second part which will focus on 8GW of TOPCon, the annual sales and tax revenue are calculated to be no less than 6.8 billion yuan and 160 million yuan respectively. What is more, the company will launch the second phase of 10GW TOPCon ultra-high-efficiency solar cells to achieve an annual sales of not less than 8.5 billion yuan and an annual tax of not less than 200 million yuan. To sum up, a total annual sales of not less than 17 billion yuan and an annual tax of not less than 400 million yuan will be reached after the project is fully completed.