5.5 Billion Yuan! Hunan Huamin and Anhui Huasun Sign Wafer Supply Agreement

PVTIME – Hunan Huamin Holdings Co (300345.SZ), a leading manufacturer and distributor of wear-resistant cast products, announced on 17 August 2023 that its holding subsidiary, Honsun, has signed a monocrystalline silicon wafer supply agreement with Anhui Huasun Energy Co, Ltd. (Huasun), a company with the world’s leading team in HJT solar cell R&D and mass production.

Under the agreement, Huasun will purchase 15GW of monocrystalline silicon wafers from Honsun for HJT cell production from November 2023 to November 2026, with an estimated contract value of 5.5 billion yuan.

Honsun is mainly engaged in the research and development, production and sales of solar photovoltaic silicon ingots and wafers, as well as the application of external material recycling technology, and is committed to providing reliable PV products to silicon wafer manufacturers in the upstream of the photovoltaic industry chain.

According to public data, Hunan Huamin’s average annual operating income in recent years was less than 250 million yuan, while in the first quarter of 2023, it generated 190 million yuan of income, an increase of almost four times year-on-year. Once the above contract and two other contracts signed in July 2023, worth 170 million yuan and 250 million yuan respectively, are completed, Hunan Huamin will generate about 6 billion yuan of revenue in the next three years. Its average annual revenue of 2 billion yuan will then be about 10 times higher than that in recent years.

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