PVTIME – Changzhou Shichuang Energy Co.,Ltd.(Scenergy, 688429.SH), a high-tech company mainly engaged in the research and development, production and sales of photovoltaic product processing, photovoltaic equipment and photovoltaic cells, recently announced its intention to postpone its expansion projects for solar equipment and materials from Q2 2024 to Q2 2026.
According to the announcement, its solar cell equipment expansion project, new materials expansion project, auto processing project, R&D centre and data analysis project will be postponed. These projects were planned to be operational in the second quarter of 2024 and will now be postponed to the second quarter of 2026.
A total of 768,015,400 yuan has been raised by Scenergy through A shares for these projects, together with a solar cell equipment R&D project and processing and supply of working capital. The funds and the project will not be changed. According to Scenergy, the projects have been delayed due to less customer demand and unfavourable market conditions.
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