696.6 Million Yuan! TCL Zhonghuan to Transfer Its Silicon Sub to Guotong Trust

PVTIME – TCL Zhonghuan Renewable Energy Technology Co., Ltd. (002129.SZ), a prominent distributor and manufacturer of discrete semiconductor devices, announced on 29 September 2023 that it intends to transfer a 27% equity interest in Xinjiang GCL New Energy Materials Technology Co., Ltd. currently held by TCL Zhonghuan, to a subsidiary of Wuhan Financial Holding Group called Guotong Trust. The price agreed upon for the transfer was 696,600,000 yuan.

Xinjiang GCL New Energy Materials Technology Co., Ltd. is a joint venture of TCL Zhonghuan, GCL and Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. Zhongneng Polysilicon holds 38.6% interest, GCL holds 34.5% interest, and TCL Zhonghuan holds 27% interest. The company’s primary focus is on researching, producing, and selling polysilicon and monocrystalline silicon.

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