84.5 Million Yuan! XinYi Electric Storage to Purchase PV Film Production Line From GWELL

PVTIME – On June 23, Xinyi Electric Storage Holdings Ltd. (08328.HK), a wholly-owned subsidiary of Xinyi Group, disclosed an announcement that its subsidiary Anhui Xinyi Material has reached an agreement with Suzhou GWELL machinery Co., Ltd., a high-tech enterprise specializing in the manufacture of plastic film, sheet and profile extrusion lines, for procurement on photovoltaic film production lines, with a contract value of CNY 84.5 million (tax included).

Xinyi Electric Storage stated that the photovoltaic film production line will be used to produce adhesive films that can be used as packaging materials for solar modules. The company intends to further expand its business into the production of EVA photovoltaic film, for which the Group has considered different types of machines and believes that the photovoltaic film production line is suitable for the Group’s production needs.