Huamin shares 50 million silicon wafer orders terminated!

On August 23, Huamin announced that Hongxin New Energy Technology (Yunnan) Co., Ltd., a holding subsidiary of the company, signed the Procurement Framework Agreement with Zhejiang Pengzhan New Energy Technology Co., Ltd. on December 28, 2022. The announcement

shows that, in view of the fact that both sides were in the initial stage of capacity climbing and strategic design when the contract was signed, in the process of production line construction and gradual production, along with the changes in the photovoltaic market , the two sides communicated repeatedly. However, it is still unable to fully match in terms of product positioning: Hongxin New Energy is committed to becoming a professional manufacturer of high-efficiency N-type silicon wafers, with all technical quality indicators benchmarking with first-line large manufacturers and matching product pricing; Pengzhan New Energy pays more attention to the cost performance of products, and mainly targets products with relatively low prices. Therefore, after many negotiations, it failed to reach a unified supply plan and the contract was not fulfilled. Hongxin New Energy and Pengzhan New Energy entered into the Procurement Framework Agreement Termination Agreement through negotiation.

It is reported that according to the Procurement Framework Agreement signed by Huamin and Pengzhan New Energy, Pengzhan New Energy plans to purchase 50 million monocrystalline silicon wafers from Hongxin Science and Technology throughout the year, and the actual number completed throughout the year shall not be less than 80% of the total planned number. The actual sales price is determined by both parties through monthly negotiation. The agreement is from January 1, 2023 to December 31, 2023. According to the previous market price of monocrystalline silicon wafers and the minimum purchase quantity stipulated in the agreement, it is estimated that the total contract amount exceeds 100% of the company's latest audited main business income of 139 million yuan, and the absolute amount exceeds 200 million yuan.