PVTIME – On 13 April, Boway Alloy announced its intention to divest its entire 100% stake in Boviet Solar Technology (North Carolina) LLC, a wholly owned subsidiary.
This decision is in line with adjustments to the global trade landscape and aims to rationalise the company’s asset portfolio, support long-term stable growth, and uphold the interests of the listed entity and all shareholders. The North Carolina-based subsidiary has a solar module production capacity of 3GW.
In order to expedite the disposal of assets, the company intends to authorise its chairman to oversee negotiations, execute agreements and finalise the transfer of assets within the scope approved by the board of directors. This authorisation complies with the Company Law, Securities Law, Listing Rules of the Shanghai Stock Exchange, and the company’s articles of association.
Founded in January 2024, Boviet Solar (North Carolina) features a 3GW annual solar module production line as its core asset and is scheduled to commence commercial production and sales in the second half of 2025. The US Inflation Reduction Act, which took effect in July 2025, introduced stricter regulations for Foreign Entities of Concern (FEOC) regarding their US investments, mergers and acquisitions. It imposes enhanced compliance and regulatory obligations on FEOC-identified countries, notably China, for their US-based projects.
Boway Alloy has acknowledged that these policy changes could have an adverse effect on the operational continuity, compliance and future prospects of its US assets. In line with its commitment to protecting shareholder interests and proactively addressing external policy shifts, the company has therefore resolved to sell the subsidiary.
Scan the QR code to follow PVTIME official account on Wechat for latest news on PV+ES
 LLC, a wholly owned subsidiary. This decision is…){kind=link}