On December 2, Xiexin Integration announced that on December 1, the company signed the Silicon Wafer Sales Contract with Xiexin Technology (Suzhou) Co., Ltd. The total purchase amount of silicon wafers from GCL Suzhou in 2024 is not more than 1 billion yuan (including tax). According to the current market price, it is expected to be about 3.5G W or 10000 pieces 42550. The two parties will discuss the transaction price of silicon wafers on January 1, subject to the purchase order signed by the two parties.
The announcement pointed out that Mr. Zhu Gongshan, the actual controller of GCL Integration, indirectly controlled 23.75% of the equity of GCL Technology, and GCL Technology indirectly controlled 100% of the equity of GCL Technology Suzhou, so GCL Technology Suzhou was a related party of GCL Integration, and this transaction constituted a related party transaction.
Xiexin Wuhu Xiexin 20GW (Phase I 10GW) high-efficiency cell manufacturing project has reached full production in October 2023, and production and operation need to purchase a large number of photovoltaic wafers. It can stably supply high-quality silicon wafer products for the company, which is in line with the strategic layout of the company's main photovoltaic industry. The pricing of this related party transaction follows the market pricing principle, the price is fair and reasonable, will not affect the independence of the company, there is no significant dependence on related parties, and there is no damage to the interests of the company and its shareholders, especially minority shareholders.