157 Million Yuan! JS SAFETY WR to Purchase PV Cell Related Production and Operation Equipment

PVTIME – Jiangsu Safety Wire Rope Co., Ltd. (JS SAFETY WR)(SH.603028), a leading supplier of special steel wire ropes and rigging, released an announcement that Safety New Energy Technology Co., a subsidiary of JS SAFETY WR, has entered into an Equipment Purchase Contract with Shenzhen S.C New Energy Technology Corporation (SZ.300724) and its wholly-owned subsidiary, which is mainly engaged in precision machinery, for the purchase of production and operation equipment for photovoltaic cells production, with a contract value of RMB 157 million.

The purchased equipment will be used for the PV business of Safety New Energy Technology Co., which will further enhance its market competitiveness once the equipment is successfully put into operation.

Moreover, it is estimated that JS SAFETY WR achieved a net profit attributable to shareholders of the listed company of about -65 million yuan in 2022. During the reporting period, the elevator and the crane industries, in which the company operates, were in recession, as well as the pandemic, dramatically affected the company’s performance in the year of 2022.