Mubang High-Tech Rushes Into PV Industry with 2.415 Billion Yuan

PVTIME – Recently, Jiangxi Mubang High-Tech Co., Ltd. (hereinafter referred to as Mubang High-Tech or the Company) (603398.SH), a company mainly focuses on educational toy, medical device, education and precision non-metallic mold business, disclosed a major asset restructuring plan. The company plans to acquire 100% equity of Inner Mongolia Haoan Energy Technology Co., Ltd. (hereinafter referred to as Haoan Energy) in cash. Upon the completion of the 1.1 billion yuan transaction, the company will expand the business to the research and development, production and sales of solar wafer and silicon rods.

On the same day, Mubang High-Tech also disclosed a fixed increase to raise 2.415 billion yuan. Part of the funds will acquire 100% equity of Haoan Energy and invest in silicon purification and recycling project. This private increase has no more than 35 specific targets and the company’s actual controllers, controlling shareholders, directors, supervisors, senior managers and shareholders holding more than 5% of the company’s shares and their respective controlled companies do not participate in the subscription.