939 Million Yuan! Golden Solar To Restart Funds Raising

PVTIME – On 18 December 2023, Gansu Golden Solar Co., Ltd. (Golden Solar, 300093.SZ), a leading China-based company mainly engaged in the research and development and deep processing of various kinds of high-tech and special glass, announced its intention to issue not more than 64,800,000 A shares to Ouhao Group (Our House), its shareholder, raising total funds of not more than 938,952,000 yuan at a price of 14.49 yuan per share. The funds are expected to be used to supplement working capital and repay loans after deducting expenses.

On 5 May 2023, Golden Solar announced its intention to issue shares to certain parties to raise 2 billion yuan. The announcement stated that the funds raised, after deducting the underwriting fees, would be used to construct production lines to manufacture 4.8GW of high-efficiency HJT cells and 1.2GW of modules. The project, which includes auxiliary facilities and equipment, is expected to be completed within 18 months. Golden Solar has made active efforts to facilitate the issuance and related processes. However, after careful analysis, the company has decided to terminate the A-share issuance due to market uncertainty, revised policies and the company’s actual situation. The Company affirmed that daily production and operations remain normal, and the suspension of issuance will not affect the Company’s production and development. There will be no negative impact on any of Golden Solar’s shareholders, especially the interests of small and medium-sized shareholders.

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