450 Million Yuan! Aiko to Buy Solar Cell Production Equipment

PVTIME – On September 16, Shanghai Aiko Solar Energy Co., Ltd.(600732.SH) issued an announcement on an Equipment Procurement Contract that signed by Zhuhai Max Automation System Co., Ltd. and Zhuhai Fushan Aiko, a subsidiary of Shanghai Aiko, in order to provide equipment for Aiko’s solar cell production.

According to the Contract, Zhuhai Fushan Aiko will purchase 36 sets of photovoltaic coating machines for solar cell production from Zhuhai Max with a total contract value of 451.8 million yuan.

This transaction will be a connected transaction since the actual controller of Zhuhai Fushan Aiko, Mr. Chen Gang, is also the actual controller of Zhuhai Max. The transaction amount reaches or exceeds 5% of the company’s latest audited net assets that the transaction needs to be submitted to the board of directors and the general meeting of shareholders for deliberation according to relevant regulations.