86 Million Yuan! Aiko to Buy Solar Cell Production Equipment

PVTIME – On March 22, Shanghai Aiko Solar Energy Co., Ltd.(600732.SH) issued an announcement on an Equipment Procurement Contract that signed by Zhuhai Max Automation System Co., Ltd.and Zhuhai Fushan Aiko, a subsidiary of Shanghai Aiko, in order to provide equipment for Aiko’s Zhuhai base.

According to the Contract, Zhuhai Fushan Aiko will purchase 16 sets of equipment for solar cell production from Zhuhai Max with a total contract value of 86.08 million yuan (tax included) .

This transaction will be a connected transaction since the actual controller of Zhuhai Fushan Aiko, Mr. Chen Gang, is also the actual controller of Zhuhai Max. The above transaction does not constitute a major asset reorganization as stipulated in the Measures for the Administration of Major Asset Restructuring of Listed Companies.