PVTIME – Henan Yicheng New Energy Co., Ltd. (Yicheng, 300080.SZ), a China-based company principally engaged in the production of solar crust wafer slicing blades, recycling of waste mortar, construction of solar power plants, production and sales of negative electrode materials and production and sales of monocrystalline silicon cells, recently announced its intention to raise funds for lithium-ion material production projects and distributed solar power generation projects.
According to the announcement, the total proceeds from this share issue will not exceed 2. 305 billion yuan, and the net proceeds after deducting issue expenses will be used for projects including lithium-ion battery anode material development and production project (Phase II), high performance lithium-ion battery anode material project with production capacity of 30,000 tonnes per year, distributed photovoltaic power generation project with installed capacity of 100MW in Baofeng County, Henan Province of China, distributed photovoltaic power generation project with installed capacity of 50MW in Weidong District, Henan Province of China, and to supplement working capital.
These projects are expected to expand Yicheng’s business scale and promote its sustainable development.
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