Golden Solar to Terminate 2 Billion Yuan in Funds Raising for HJT Manufacturing

PVTIME – On 6 November 2023, Gansu Golden Solar Co., Ltd. (300093.SZ)(Golden Solar), a leading China-based company mainly engaged in the research and development and deep processing of various kinds of high-tech and special glass, declared the termination of funds being raised to support the high-efficiency HJT cell and module production project, totalling 2 billion yuan.

On 5 May 2023, Golden Solar announced its intention to issue shares to specific parties, in order to raise 2 billion yuan. The announcement stated that the raised funds, after the deduction of issuance fees, would be utilised to construct production lines for the manufacture of 4.8GW of high-efficiency HJT cells and 1.2GW of modules. The project, which encompasses auxiliary facilities and equipment, is anticipated to attain completion within 18 months.

Golden Solar has been making active efforts to facilitate the issuance and related processes; however, after a meticulous analysis, the company has decided to terminate the issuance of A-shares due to market uncertainty, revised policies, and the company’s actual situation.

The statement affirmed that the daily production and operation remain normal, and the termination of issuance would not impede the company’s production and development. There will be no negative impact on any of the shareholders of Golden Solar, particularly the interests of small and medium-sized shareholders.

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