250 Million Yuan! Autowell to Supply PV Cell Production Equipment to Major Company

PVTIME - on 24 October 2023, Wuxi Autowell Technology Co., Ltd. (ATW) (688516.SH), a well-known automation equipment manufacturer in the photovoltaic and lithium-ion battery industry, disclosed that Wuxi Autowell XuRi Technology Co., Ltd. (XuRi Technology), a subsidiary of ATW, has recently signed a supply agreement with a prominent PV company for the supply of solar cell production equipment, including laser-enhanced metallisation equipment, at a cost of 250 million yuan (including tax).

The announcement implies that due to the average 6-9 month acceptance period of XuRi Technology's products, which is affected by the delivery batch and acceptance time of this particular contract, there exists uncertainty regarding the impact of contract performance on the outcome of 2023. However, the operating results of the Company are expected to be positively affected in 2024.

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