IPO Approved! Xinte Energy to Be Listed in SSE

PVTIME – On 19 September 2023, The Shanghai Stock Exchange (SSE) announced that the IPO of Xinte Energy Co., Ltd. is approved and will be listed in the main board of SSE.

Xinte Energy is the third manufacturer of polysilicon to be listed on the A-share market following Tongwei (600438) and Daqo. For the IPO, Xinte Energy intends to issue no more than 300 million shares to raise funds of approximately 8.8 billion yuan, which will be used for a high-end low-carbon recycling project for electronic grade polysilicon with an annual output of 200,000 tonnes.

It is estimated that if the selling price is 70,000 yuan per tonne, the project will generate average annual sales revenue of about 13.98 billion yuan and average annual after-tax profit of 2.8 billion yuan. However, if the selling price is 100,000 yuan per tonne, the average annual sales revenue will be 19.92 billion yuan, while the average annual after-tax profit will be 7.16 billion yuan.

In addition, the total global polysilicon output will be about 938,000 tonnes in 2022, of which Xinte Energy’s output will be 125,900 tonnes, accounting for 13.42%.

Xinte Energy Co., Ltd. (1799.HK) is a holding company of TEBA Co., Ltd. It is a high-tech enterprise group specialising in the research and development of new photovoltaic energy products, new silicon-based materials, advanced ceramics, zirconium-based materials, powder materials and other products, the development and operation of wind and light resources, and the application of energy-saving and environmental protection technologies.

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