7 Billion Yuan! TCL Zhonghuan to Purchase Raw Materials from GCL in 2023

PVTIME – On December 6, TCL Zhonghuan Renewable Energy Technology Co., Ltd. (002129.SZ), formerly Tianjin Zhonghuan Semiconductor, mainly providing solar monocrystalline wafer, cell and related products used in renewable energy industry, disclosed its estimated total amount of daily related procurement transactions of the company and its holding subsidiaries in 2023 will be approximately 9.898 billion yuan.

Particularly, the company plans to purchase raw materials from Xinjiang GCL New Energy Material Technology Co., Ltd. (Xinjiang GCL) in 2023, with a total value of 7 billion yuan.

What is more, Xinjiang GCL is a joint venture of TCL Zhonghuan and GCL, mainly engaged in the production and sales of polysilicon materials, of which TCL Zhonghuan holds 27% of the shares.

In the duration of January to October 2022, the actual transaction amount the two sides was 5.07593 billion yuan, accounting for 18.99% of the actual amount of similar business.