PVTIME – On December 11, Hangzhou First Applied Material Co., Ltd. (hereafter referred to as “First” or the “Company”) issued an announcement stating that it intends to use 300 million yuan of raised funds to accelerate the development of its subsidiary First (Chuzhou) New Material Co., Ltd.’s “Chuzhou 500 Million Square Meters EVA Film Project”.
According to the statement, the completion of this capital raise will further improve the company’s financial and operating capabilities, which will accelerate the implementation of the aforementioned project and enhance the company’s competitiveness in the field of solar encapsulation.
First’s main products are EVA film for PV modules and solar backsheets, having developed deep relations and cooperated with numerous renowned PV enterprises, its global market share of solar EVA film is greater than 50%.
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