PVTIME – Tongwei Co., Ltd. has recently established a new subsidiary to expand its PV solar business in Sichuan Province, China. This follows the establishment of two other subsidiaries in Jiangsu Province and Inner Mongolia of China, respectively.
This new subsidiary, Sichuan Tongwei, is a joint venture between a number of industry leaders, including Tongwei, DR Laser, Cybrid Technologies, and Lead Intelligent Equipment, with a registered captical of 10 million yuan (aproximately 1.375 million dollars). Its core activities include the sale of PV equipment and products, non-metallic minerals and products, and special electronic materials R&D and sales. The company is poised to establish an innovation business system encompassing the research and development, production, and sales of its solar PV products.
In June 2024, two subsidiaries were set by Tongwei in Jiangsu Province and Inner Mongolia of China, respectively. A wholly owned subsidiary, Tongwei Solar (Jiangsu), was established in Jiangsu Province, primarily engaged in the production of photovoltaic equipment, solar products, solar cells, related electric materials and so forth. The company has a registered capital of 10 million yuan (approximately 1.377 million dollars). Yongxiang New Energy (Inner Mongolia) is a new wholly owned subsidiary of Yongxiang Co., Ltd., which in turn is a subsidiary of Tongwei Group. Yongxiang New Energy (Inner Mongolia) is primarily engaged in the research and development of emerging energy technology, services and solutions for solar power generation and technology, as well as the sale of photovoltaic equipment and products. The company’s registration capital is 10 million yuan (approximately 1.377 million dollars).
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