PVTIME – On 19 September 2024, Wuxi Autowell Technology Co., Ltd. (Autowell/ATW, 688516.SH), a manufacturer of automation equipment for the photovoltaic and lithium-ion battery industries, announced a recent order for PV production equipment from a renowned overseas solar company.
Autowell’s wholly-owned subsidiary in Wuxi signed a contract to supply mono-crystal process furnaces and related equipment valued at 400 million yuan, approximately US$57.76 million (including tax) to a globally renowned solar company.
In addition, Autowell disclosed that this sales contract is conditional and there is a possibility that the contract may not become effective. As the average goods receipt cycle is 6-9 months, while delivery of the related equipment would commence in 2025, it is expected to be accretive to Autowell’s operating results in 2025.
Moreover, in the first quarter of 2024, Autowell received sales orders of RMB3.445 billion, up from RMB2.620 billion in the first quarter of 2023, an increase of 31.50% year-on-year. As of 30 June 2024, the company has received orders worth approximately 14.341 billion yuan, then more than 15.6 billion yuan to date.
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