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Longi (601012.SH) inks RMB7.6 bln polysilicon material procurement contracts

August 08, 2019


Abstract : Longi Green Energy Technology Co.,Ltd. (601012.SH) announced on Thursday that its wholly-owned subsidiaries have recently signed long-term contracts with Xinjiang Daqo New Energy Co., Ltd to buy polysilicon materials from the latter. 

BEIJING, Aug. 8 (Xinhua) -- Longi Green Energy Technology Co.,Ltd. (601012.SH) announced on Thursday that its wholly-owned subsidiaries have recently signed long-term contracts with Xinjiang Daqo New Energy Co., Ltd to buy polysilicon materials from the latter. 

According to its filing to the stock exchange, the purchases were to ensure the company's stable supplies of raw materials. 

The volume of the purchases will total 112,800 metric tons (tonnes), worth about 7.6 billion yuan, accounting for 45 percent of the listed company's operating costs in 2018. 

Last month, Longi announced that its wholly-owned subsidiaries signed long-term purchase contracts with two companies 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. (Edited by Hu Pingchao, [email protected])

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Keyword: LONGi polysilicon

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