Stranagor
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(Yicai Global) Oct. 26 -- Shares of China's Shuangliang Eco-Energy Systems and Shangji Automation surged after the two monocrystalline silicon suppliers received a combined sum of CNY19.4 billion (USD3 billion) in orders from Aiko Solar Energy.
Shuangliang's stock price [SHA: 600481] jumped by the daily limit of 10 percent to CNY11.76 (USD1.80) intraday. The shares have more than tripled in value this year.
Shangji's equity price [SHA: 603185] rose as much as 3.7 percent to CNY297.50 (USD46.60). The Wuxi-based firm's stock price has more than doubled since January.
Aiko [SHA: 600732] hit its highest of today at CNY19.50, 3.8 percent up from yesterday. The shares are more than 10 percent up this year.
Aiko’s three battery production bases inked long-term supply contracts to buy 2.1 billion monocrystalline silicon wafers for CNY14.4 billion (USD2.3 billion) from Shuangliang between 2022 and 2024, the Shanghai-based buyer said in a statement yesterday.
The three bases also signed agreements with Shangji to buy 780 million silicon wafers worth CNY5 billion (USD783.5 million) till December 2023, the solar cell maker added.
Aiko is one of the world’s major suppliers of passivated emitter and rear cells which tend to be more efficient than other types of solar cells. The company expects its annual production capacity to reach 36 gigawatts this year, according to its website.
The deal should ensure product demand for Jiangsu province-based Shuangliang. The firm is currently building a 40-GW large-sized solar wafer plant in northern China's Baotou. The CNY14 billion project should be fully ready by 2023.
The firm's products are in high demand. On Oct. 14, Shuangliang penned a deal with another solar cell manufacturer Runyang Yueda Photovoltaic Technology to provide the latter with 1.3 billion monocrystalline wafers between 2022 and 2024. The estimated contract value is about CNY8.3 billion.
Shuangliang's stock price [SHA: 600481] jumped by the daily limit of 10 percent to CNY11.76 (USD1.80) intraday. The shares have more than tripled in value this year.
Shangji's equity price [SHA: 603185] rose as much as 3.7 percent to CNY297.50 (USD46.60). The Wuxi-based firm's stock price has more than doubled since January.
Aiko [SHA: 600732] hit its highest of today at CNY19.50, 3.8 percent up from yesterday. The shares are more than 10 percent up this year.
Aiko’s three battery production bases inked long-term supply contracts to buy 2.1 billion monocrystalline silicon wafers for CNY14.4 billion (USD2.3 billion) from Shuangliang between 2022 and 2024, the Shanghai-based buyer said in a statement yesterday.
The three bases also signed agreements with Shangji to buy 780 million silicon wafers worth CNY5 billion (USD783.5 million) till December 2023, the solar cell maker added.
Aiko is one of the world’s major suppliers of passivated emitter and rear cells which tend to be more efficient than other types of solar cells. The company expects its annual production capacity to reach 36 gigawatts this year, according to its website.
The deal should ensure product demand for Jiangsu province-based Shuangliang. The firm is currently building a 40-GW large-sized solar wafer plant in northern China's Baotou. The CNY14 billion project should be fully ready by 2023.
The firm's products are in high demand. On Oct. 14, Shuangliang penned a deal with another solar cell manufacturer Runyang Yueda Photovoltaic Technology to provide the latter with 1.3 billion monocrystalline wafers between 2022 and 2024. The estimated contract value is about CNY8.3 billion.
China's Shuangliang, Shangji Jump After Aiko Orders USD3 Billion of Solar Wafers
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