A subsidiary of PV cell producer Aiko Solar intends to participate in the capital increase of Qinghai Lihao Semiconductor Materials to improve the supply chain.
Zhejiang Aiko Solar Energy Technology will invest RMB385 million (US$55 million) for 2.78% of Qinghai Lihao’s equity.
It is reported that Qinghai Lihao is mainly engaged in research and development, manufacturing and sales of high-purity silicon and other semiconductor materials. As an upstream enterprise of the PV industrial chain and one of the suppliers of Aiko Solar, its main products are high-purity silicon materials.
Qinghai Lihao is planning to build a 200,000-ton high-purity silicon project in stages. So far, the first phase of the construction project has been put into production in 2022, and the construction of the second phase has begun. From January to October of 2022, the company’s operating revenue was RMB845 million (US$121 million) and its net profit was RMB492 million (US$71 million).
The announcement also disclosed unaudited financial data of Qinghai Lihao. As of 31 October 31 2022, the company’s total assets were RMB8.75 billion US$1.25 billion).
The announcement shows that Zhuhai Runjing Enterprise Management Partnership, a related party of Aiko, has previously invested in Qinghai Lihao and held 11.11% of the equity.