Jinfu Technology Signs USD237 Million Photovoltaic Product Purchase Contracts

Suzhou Jinfu Technology Co. [SHE:300128], a manufacturer of optoelectronic products headquartered in China’s east-coastal Jiangsu province, has signed purchase contracts with two photovoltaic companies for a total of USD237 million (CNY1.58 billion) to provide photovoltaic cells and photovoltaic wafers for them, respectively.

Jetion Solar China Co. will purchase photovoltaic cells worth CNY500 million and Yingli Energy (China) Co. will buy photovoltaic wafers worth CNY1.08 billion, Jinfu Technology announced Aug. 21.

Jinfu Technology will also cooperate with the two companies throughout the entire photovoltaic industry chain, including research and development of silicon wafers and batteries, and investment in and construction of photovoltaic power plants, it said.

A subsidiary of China Triumph International Engineering Co., Jetion Solar specializes in research and development, manufacture and sale of photovoltaic products. Under Yingli Solar (International) Holding Co., Yingli Energy is a comprehensive energy company that manufactures photovoltaic components and builds and operates photovoltaic power plants, per the announcement.

Jinfu Technology logged operating revenue of CNY2.973 billion last year. The total amount of the purchase contracts represents 53.14 percent of Jinfu Technology’s operating revenue for last year.

Source: yicaiglobal