BEIJING, July 23 (Xinhua) -- LONGi Green Energy Technology Co., Ltd. (601012.SH) announced on Tuesday that its wholly-owned subsidiaries signed long-term purchase contracts with two companies on Monday to ensure stable supplies of photovoltaic aluminum frames from the producers.
LONGi said that it will purchase 47.1 million sets and 49.7 million sets of PV aluminum frames from Jiangsu Akcome Science & Technology Co., Ltd. and Yingkou Changtai Aluminum Material Co., Ltd, respectively, with the contracts worth 2.59 billion yuan and 2.734 billion yuan, according to the current market conditions.
According to its filing to the stock exchange, its purchase costs from the above two companies account for approximately 15.15 percent and 15.99 percent of the company's audited operating costs for 2018, respectively.
Founded in 2000, LONGi has focused on R&D, production and sales of monocrystalline silicon ingot and wafer. Over decades of development, it has developed into one of the largest monocrystalline silicon PV producers in the world.
Yingkou Changtai Aluminum Material Co., Ltd is a comprehensive company integrated with production of aluminum alloy, building section materials, industrial, construction, transportation materials, high quality windows and doors.
Jiangsu Akcome Science & Technology Co., Ltd. is a high technology based company specialized in the investment and operation of power generated by new energy, and the one-stop provision of photovoltaic accessories. (Edited by Hu Pingchao, email@example.com)