Shanxi Huaxiang Group Co.Ltd(603112) announced on February 16 that the company signed an investment framework cooperation agreement with Tbea Co.Ltd(600089) Xinjiang new energy Co., Ltd. and Hongdong county government on the same day, and plans to build Hongdong 1GW photovoltaic power generation project and photovoltaic support product production project, with a total investment of 4.3 billion yuan.
The announcement shows that the cooperation project includes 1GW photovoltaic power generation project, with an investment of 4 billion yuan, which is implemented by the project company established by Shanxi Huaxiang Group Co.Ltd(603112) and new energy company in Hongdong County Development Zone. The registered capital of the project company is about 30% of the total investment, and the investment amount of both parties is about 600 million yuan respectively. The remaining funds required for the project are financed by the project company; The supporting photovoltaic support production project has an investment of 300 million yuan. The project is mainly invested in Shanxi Huaxiang Group Co.Ltd(603112) and the project capital is 30% – 40% of the total investment. The project covers an area of 30000 mu, subject to the site selection confirmed by Hongdong county government.
Shanxi Huaxiang Group Co.Ltd(603112) is a leading enterprise in China’s foundry industry. It is mainly engaged in the R & D, production and sales of various customized metal parts. Its products are mainly used in three major industries: white household appliances, engineering machinery and automobile manufacturing. It is also a single champion demonstration enterprise in the manufacturing industry recognized by the Ministry of industry and information technology. Tbea Co.Ltd(600089) Xinjiang new energy Co., Ltd. is a holding subsidiary of Xinte energy, a Hong Kong listed company, which is a holding subsidiary of Tbea Co.Ltd(600089) A-share listed company.
Shanxi Huaxiang Group Co.Ltd(603112) said that the all-round cooperation between the company and the other party in photovoltaic projects will help both parties give full play to their advantageous resources, accelerate the layout of green power generation, continuously improve the proportion of green and low-carbon energy, improve the sustainable development competitiveness of the company, and promote the production capacity construction of supports and other products required for photovoltaic power generation, It provides an opportunity for the company to layout the photovoltaic parts industry line, helps the company to expand product categories and downstream application fields, and provides new business growth points.
