PVTIME – Yonz Technology Co.,Ltd., a company specialising in providing turnkey solutions for structural materials for solar energy systems, recently announced that its IPO application on the SSE has been approved and it will be listed in the A-share segment under the stock code 603381 very soon.
Yonz Tech intends to raise funds of 1.752 billion yuan for investment in an aluminium alloy photovoltaic frame and energy storage tray project and the first phase of the photovoltaic frame project, as well as to provide working capital.
Yonz Tech is expected to expand the scale of production capacity, supplement liquidity, consolidate and expand its leading position in the industry through this financing move. Based on the global newly installed PV capacity of 230GW in 2022, the annual demand for PV frames will be about 1.43 million tonnes, and Yonz Tech’s market share was about 13.04%, which is at the top of the PV frame industry. By 2030, the annual demand for PV frames is estimated to reach 3.2 million tonnes, based on CPIA’s optimistic forecast of an annual global PV installed capacity of 516 GW. To capitalise on the opportunities in this booming market, Yonz Tech is actively expanding its capacity. With an annual production capacity of 220,000 tonnes of PV frames, Yonz Tech currently has a production capacity of nearly 80 million sets of PV frames. A PV frame production base with an annual capacity of 270,000 tonnes is under construction in Wuhu City, China, and plans are underway to set up a PV frame production base in Vietnam to add another 180,000 tonnes of capacity per year, after which Yonz Tech’s total production capacity is expected to be 670,000 tonnes.
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