3.1 Billion Yuan! Zhonghuan to Alter Funds to 30GW G12 Silicon Material Project

PVTIME – On May 25, Zhonghuan Semiconductor released an announcement on the adjustment of raised funds, it intends to alter the remaining 975,899,400 yuan of raised funds originally planned to be invested in the production line project to be used for the construction of its smart factory project with an annual output of 30 GW of high-purity solar ultra-thin silicon single crystal materials (referred to as DW Phase IV).

The amount of funds changed this time accounted for 19.86% of the net amount of funds raised by the non-public offering of shares. This change will not affect the progress of original project namely 8-12-inch large silicon wafer project (8-12 wafer project). By the end of Q1 2022, the targets of monthly production capacity of 8 inches to 550,000 pieces and 12 inches to 150,000 pieces were achieved in the 8-12 wafer project.

The DW Phase IV is located in Yixing Economic and Technological Development Zone, Jiangsu Province. The total planned investment of this project is 3,104,350,000 yuan, and the construction period will be 10 months, in order to match the crystal production capacity. What is more, the project is designed as Industry 4.0 Smart Factory, accelerating the mass production and large-scale application of the company’s G12 monocrystalline silicon products to empower the industry, as well as driving the mutual development with upstream and downstream partners.