Yicheng to Wind Down Its Business in Photovoltaic Cells

PVTIME – Henan Yicheng New Energy Co., Ltd.(Yicheng, 300080.SZ), a subsidiary of China Pingmei Shenma, which is mainly engaged in the production and sale of monocrystalline silicon cells, anode materials, diamond wire products, energy conservation and solar power plant operation, recently announced that it will transfer all 80.20% of the shares it holds in Pingmei LONGJi to China Pingmei Shenma and its subsidiaries. Meanwhile, Pingmei LONGJi’s 100% shareholding in Henan Pingmei LONGJi Photovoltaic Material Company will be transferred to Yicheng.

Pingmei LONGJi is a joint venture between Yicheng and LONGi, established in 2016, which primarily produces high-efficiency monocrystalline solar cells with the world’s leading conversion efficiency. And Henan Pingmei LONGJi Photovoltiac Material Company, a wholly owned subsidiary of Pingmei LONGJi, is capable of producing 30 million units of solar modules annually, with a further ramp-up plan in 2024.  

After the transfer of the solar module production company, Yicheng plans to focus on the industrial layout of lithium anode materials and ultra-high performance graphite electrode related products. And its product structure will be optimised to promote it into emerging industries such as high-end carbon materials.

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