385 Million Yuan! Aiko to Acquire 2.78% Equity of Lihao Semiconductor

PVTIME – Shanghai Aiko Solar Energy Co., Ltd. (600732.SH), a professional manufacturer engaged in the R&D, production, sale and service of solar cells, announced on December 3rd that Zhejiang Aiko Solar Energy Technology Co., Ltd. an Aiko’s subsidiary, intends to participate in the capital increase of Qinghai Lihao Semiconductor Material Co., Ltd. (Lihao Semiconductor), a technology-based enterprise focusing on developing semiconductor materials.

According to the announcement, Zhejiang Aiko plans to acquire 2.78% of the equity of Lihao Semiconductor with 385 million yuan, which the specific date shall be subject to that registered in related business administration department.

Lihao Semiconductor was established in April 2021, and announced a completion of a Series B funding worth 2.2 billion yuan from a group of investors, claiming to reach the unicorn valuation within 18 month and became one of the bench marking companies of the industry. The company is working on the second phase of a high-purity silicon production project with a total investment of 18 billion yuan. The first phase of the project has reach production capacity of 50,000 MT as scheduled in the year of 2022. And the annual output of the whole project will be 200,000 MT of high-purity silicon material with an annual output value of approximately 20 billion and profits and taxes of 5 billion yuan per year as well as providing more than 3,000 jobs for local people.