600 Million Yuan! Shuangliang to Promote Its Silicon Material Subsidiary via Capital Increase

PVTIME – On June 7, Shuangliang Eco-Energy Systems Co., Ltd. (600481.SH), a leading solar PV production equipment manufacturer in China, announced that it intends to increase its wholly-owned subsidiary’s capital by CNY 600 million via its another subsidiary.

According to the announcement, Shuangliang Eco-Energy plans to add 600 million yuan to Shuangliang Eco-Energy Investment, whose registered capital will increase from 100 million yuan to 700 million yuan once the capital increase is completed by the company with self-raised funds.

And then, Shuangliang Eco-Energy Investment will increase the capital of Shuangliang Silicon Materials by CNY 600 million yuan, which will be contributed by its own funds. Therefore, the registered capital of the target subsidiary will increase from 900 million yuan to 1,500 million yuan.

Shuangliang Eco-Energy Systems stated that the capital increase this time is expected to support its silicon material company and promote the company’s competitiveness in the silicon wafer business, especially for the large-size ones.