Digital Building Materials DataBM. Com reported on April 7 that Follett announced on the evening of April 6 that the company had signed a Strategic Cooperation Agreement with Zhengtai Xinneng Technology Co., Ltd. to sell photovoltaic rolled glass. Zhengtai Xinneng and its 16 subsidiaries plan to purchase about 378 million square meters of photovoltaic rolled glass from Flat and its subsidiaries from July 2023 to December 2025, and the purchase price will follow the market and be agreed monthly.
According to the company's calculation, the sales amount is about 8.051 billion yuan , accounting for about 52.27% of the company's main business revenue of 15.402 billion yuan audited in 2022. This transaction is not a related party transaction. According to the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange, this contract is a daily transaction contract that should be disclosed and does not need to be submitted to the board of directors and the general meeting of shareholders for consideration. As soon as the
announcement came out, Flat's share price rose by more than 3%. As of press time, the stock reported 34.32 yuan, with a market value of 72.479 billion yuan.
Flat said that the signing of this large order is conducive to the marketing of the company's large-size, sheet photovoltaic glass products, increase the stable sales of photovoltaic glass, and further enhance the company's operating performance. The main business of the company will not rely on the counterparty because of the signing and performance of the contract, and will not affect the independence of the company's business. Two years
later, the last time Flat signed a long sales contract supplementary agreement with Longji Green Energy Technology Co., Ltd. (Hereinafter referred to as "Longji Shares") in February 2021 to sell more than 300 million square meters of photovoltaic glass. At that time, the agreement stipulated that Flat and its subsidiaries would provide about 317 million square meters of photovoltaic glass to 13 holding subsidiaries of Longji Green Energy in 2022-2023. At that time, according to the market price, the total sales amount of the order was about 11.7 billion yuan (including tax).
Compared with the sales orders of Longji Green Energy, the sales volume of this order increased by about 61 million square meters, while the sales amount decreased by 3.685 billion yuan, accounting for about 23.93% of the main business revenue of 15.402 billion yuan in 2022. Behind the "separation" of
sales and sales is the continuous decline in the price of photovoltaic glass in the past two years. According to the data of Digital Building Materials Network, the average price of 2.0mm and 3.2mm photovoltaic glass in China in 2022 was 20.8 yuan/square meter and 27 yuan/square meter respectively, down 11.9% and 6.1% from the same period last year. Low prices have become one of the main reasons why photovoltaic glass companies "sell more, earn less". See the article for detailed analysis [ Who "took" the profits of photovoltaic glass? ”】
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