BEIJING, May 23 (Xinhua) -- Tongwei Co., Ltd (600438.SH) announced on late Tuesday that its three subsidiaries including Yongxiang Co., Ltd signed the poly-silicon supply contracts with subsidiaries of the LONGi Green Energy Technology (601012.SH) to ensure stable sales of its products.
The contracts cover the sales of its products for 2.5 years, with combined sales of about 55,000 metric tons (tonnes) of poly-silicon, said Tongwei.
Tongwei said that measured by its poly-silicon sale prices and prices and profit margin in 2017, the poly-silicon sales under the contracts are expected to generate net profits of 132 million yuan in 2018, 694 million yuan in 2019, and 992 million yuan in 2020, respectively. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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