On December 5, Mingpai Jewelry issued an announcement on the establishment of a wholly-owned subsidiary.
The announcement said that in order to further expand the scope of the company's business, increase the synergy of photovoltaic business, create a new profit growth point and enhance the company's sustainable development ability, the 14th meeting of the fifth board of directors and the 13th meeting of the fifth board of supervisors of the company were deliberated and approved. The company will invest in the establishment of a wholly-owned subsidiary, Shaoxing Minghao New Energy Technology Co., Ltd. (Hereinafter referred to as the "New Company"), with a registered capital of RMB 10 million. After the formal operation of the new company, it will carry out EPC contracting services for photovoltaic power plants and build self-sustaining power plants through BOO mode. Later, the company will increase the capital of the new company according to the actual business volume, operation situation and construction cost of the photovoltaic power plant market, so as to meet the needs of the new company to expand its business scale. According to
the announcement, the company intends to invest in the establishment of a wholly-owned subsidiary company mainly engaged in EPC contracting services for photovoltaic power plants and self-supporting power plants through BOO mode, which has strong relevance and synergy with the solar photovoltaic cell business of the subsidiary company, which is conducive to the extension of the company's photovoltaic business industry chain and the promotion of the company's future. It is in line with the company's long-term strategic layout and the interests of all shareholders of the company.
It is reported that in February this year, Mingpai Jewelry has already crossed the border to increase the number of photovoltaic fields, and has announced that it intends to invest in the construction of the "Super Factory" project of solar photovoltaic cells in the management area of Keqiao Jingkai District Management Committee, with a total investment of about 10 billion yuan. The construction of the project
is divided into two phases: the first phase is to construct 10GW TOPCon technology cells; the second phase is to construct 6GW TOPCon technology cells and 4GW HJT technology cells.