35GW+25GW! TCL Zhonghuan to Raise 13.8 Billion Yuan for Wafer and TOPCon Factories

PVTIME – TCL Zhonghuan Renewable Energy Technology Co., Ltd. (TCL Zhonghuan)(002129.SZ), a leading distributor and manufacturer of discrete semiconductor devices, announced on 15 May that it intends to raise no more than 13.8 billion yuan (approximately US$1.9 billion) for wafer and TOPCon production projects.

According to the announcement, 3.5 billion yuan of the funds raised will be invested in a new intelligent factory to produce ultra-thin monocrystalline silicon wafers with a capacity of 35GW per year in China’s Ningxia region within 18 months.

A further 10.3 billion yuan will be invested in TCL Zhonghuan’s Smart Factory 4.0, which will engage in n-type TOPCon cells with a production capacity of 25GW per year. The new facility will be located in Guangzhou City, China, and will be completed within 24 months.

In addition, on 7 May 2024, TCL zhonghuan announced its financial plan that it intends to use up to 10 billion yuan to purchase financial products. It plans to purchase financial products with high security, good liquidity and low risk through financial institutions such as banks, trusts and securities. At the close of trading on 8 May, TCL Zhonghuan’s latest market capitalisation was 42 billion yuan.

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