On May 17, Huamin announced that the company had recently signed a Framework Contract for the Purchase and Sale of Monocrystalline Silicon Wafers with Customer A. Hongxin New Energy, a holding subsidiary of Huamin, will provide 108 million monocrystalline silicon wafers to Customer A and its affiliates from May 1, 2023 to December 31, 2023. The specific price shall be agreed by both parties on a monthly basis and may be negotiated according to the changes in market conditions.
Huamin said that according to the current market price of monocrystalline silicon wafers and the purchase quantity stipulated in the contract, the total contract amount is expected to exceed 100% of Huamin's latest audited main business income of 228 million yuan.
It is reported that this is not the first transaction between Huamin Shares and Customer A. From January to April 2023, Hongxin New Energy had silicon wafer purchase and sale business with Customer A and its related parties, and the sales revenue of Hongxin New Energy was 21.8451 million yuan. According to
the data, Huamin, formerly Hunan Hongyu Wear-resistant New Materials Co., Ltd., has been listed since 2012, and is a high-tech enterprise with the dual main industries of new materials and digital technology as its development direction. In August
2022, Huamin acquired 80% of Hongxin New Energy through acquisition, formally declaring cross-border photovoltaic . On December 29,
2022, Huamin announced that Hongxin New Energy had signed the Procurement Framework Agreement with Huasheng New Materials and Pengzhan New Energy respectively.
Huasheng New Material will purchase 1,512 tons of monocrystalline silicon rods from Hongxin Technology in the whole year of 2023, and the actual trading volume fluctuation will not exceed 15%; Pengzhan New Energy will purchase 50 million monocrystalline silicon wafers from Hongxin Technology in the whole year of 2023, and the actual completed quantity will not be less than 80% of the total quantity. The actual selling price is negotiated on a monthly basis.
According to the market price of monocrystalline silicon rods and wafers at that time, the absolute amount of the above two contracts exceeded 200 million yuan, which exceeded 100% of Huamin's main revenue of 139 million yuan in 2021.
Nearly half a year later, Huamin shares received 108 million orders from confidential customers for monocrystalline silicon wafers, and good news came again. In the
first quarter of this year, Huamin achieved a revenue of 194 million yuan, an increase of 391.26% over the previous year, and a net profit of 5.492 million yuan, an increase of 1421.03% over the previous year. Its performance has increased substantially.
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