320 Million Yuan! Xinbo Aluminum to Expand Its Solar Aluminum Project

PVTIME – On 18 June 2024, Anhui Xinbo Aluminum Co., Ltd. (003038.SZ), a China-based company mainly engaged in the production and sale of aluminium alloy profiles, announced its plan to expand the production of aluminium solar module frames by a further 320 million yuan.

The original project was initiated by Anhui Xinbo Photovoltaic Materials, a sub-subsidiary of Xinbo Aluminum, since December 2021. Xinbo Aluminum will privately issue no more than 20 million shares and raise no more than 780 million yuan to supplement working capital and invest in the photovoltaic aluminium module frame project for Anhui Xinbo Photovoltaic Materials. The project was designed to generate an annual output of 100,000 MT of solar module frame, located in Chuzhou High-tech Industrial Development Zone, Anhui Province, with a total investment of 687.8628 million yuan and construction period of 1 year.

And the new funds will be allocated to the construction of Xinbo’s new generation aluminium solar module frame project, within 24 months. These projects are expected to help Anhui Xinbo Aluminium break through the bottleneck of its production capacity and achieve further expansion for its photovoltaic aluminium frame deep processing business.

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