PVTIME – Photovoltaic glass manufacturer Ancai Hi-Tech (600207) disclosed a non-public share offering plan on the evening of July 13.
The issuance targets are no more than 35 specific buyers including the company’s controlling shareholder Henan Investment Group Co., Ltd. The total amount of raised funds will not exceed 1.2 billion yuan. After deducting related issuance costs, the funds will be used towards a project that will produce 48 million square meters of photovoltaic glass annually and supplement the company’s working capital.
Ancai High-Tech stated that photovoltaic glass, as an essential material for the production of crystalline silicon photovoltaic modules, is an important part of solar power generation, and its market demand is rapidly increasing with the promotion and utilization of solar energy. The implementation of the investment projects raised from the issuance is conducive to the company’s further expansion of the photovoltaic glass production capacity.
Ancai Hi-Tech is one of the earliest companies to enter into the photovoltaic glass industry in China. In recent years, as more and more companies enter the photovoltaic industry, global production capacity has shifted to the domestic market, market competition has become increasingly fierce, and the price of raw materials and products have fluctuated accordingly.
According to Ancai Hi-Tech, the company currently has only one 900tonne/day photovoltaic glass production line in operation, and the capacity utilization rate has become saturated. The company intends to expand its production scale through the implementation of an annual output of 48 million square meters photovoltaic glass project, while also consolidating its current competitive position, improving its product supply capabilities, and continuously enhancing its market competitiveness and anti-risk capabilities.
 disclosed a non-public share offering plan on the evening of July 13. The issuance targets are no more than 35 specific buyers…){kind=link}