PVTIME – Wuxi Autowell Technology Co., Ltd. (Autowell/ATW, 688516.SH), a renowned manufacturer of automation equipment for the photovoltaic and lithium-ion battery industries, announced a recent order for PV production equipment received from a leading overseas solar company.
Autowell’s wholly-owned subsidiary in Wuxi recently signed a supply agreement with a leading global solar company for a mono-crystal process furnace and related equipment valued at 900 million yuan (approximately US$126.45 million).
In addition, the announcement stated that as part of the information of the contract contains trade secrets and commercially sensitive information, Autowell has complied with the internal information disclosure exemption procedure and has been exempted from disclosing the specific information of the customer. The customer has a good credit rating, performance capability and controllable performance risk. The customer has no relationship with Autowell or its subsidiaries.
It is uncertain what impact this contract will have on Autowell’s results in 2024, as the average goods receipt cycle is 6-9 months. However, depending on the delivery and acceptance schedule of this contract, it is expected to be accretive to Autowell’s operating results in 2025.
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