PVTIME – On February 25, Wuxi Shangji Automation Co., Ltd. (hereinafter referred to as Shangji Automation or the company) (603185.SH) released an announcement on an investment of high-purity silicon production project in Guyang County, Baotou City, Inner Mongolia Province, China, with a total investment of RMB 11.8 billion yuan.
According to the announcement, the demand for raw materials has gradually increased in recently years as the company has invested in photovoltaic monocrystalline silicon business since 2019. The high-purity crystalline silicon is the raw material for the production of monocrystalline silicon, and high-purity industrial silicon is the raw material for the production of high-purity crystalline silicon. The company plans to set up projects in Inner Mongolia with an annual output of 150,000 MT of high-purity industrial silicon and that of 100,000 MT of high-purity crystalline silicon, in order to expand the supply chain of raw materials for the company to further enhance its silicon production capacity and its comprehensive competition.
The expected annual output of high-purity industrial silicon and high-purity crystalline silicon projects in the first phase of the project will be 80,000 MT and 50,000 MT respectively, with an estimated total investment of RMB 6 billion. The second phrase of the project will be scheduled according to market conditions. And the cooperation with the People’s Government of Guyang County is in the company’s plan so far.
In recent years, with the continuous expansion of the sales scale of the monocrystalline silicon business, the sales revenue of Shangji Automation has increased, resulted in the rise of performance steadily. In 2021, its operating revenue was 10.906 billion yuan, a year-on-year increase of 262.22%. The operating profit was 1.859 billion yuan, a year-on-year increase of 203.33. %. The total profit was 1.859 billion yuan, a year-on-year increase of 203.47%. The net profit attributable to shareholders of the listed company was 1.637 billion yuan, a year-on-year increase of 208.01%.
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