On September 12, Hongrida announced that with the rapid growth of the global photovoltaic market, the company has accumulated many years of technology in the field of connectors and joined the professional team of the photovoltaic industry chain. At present, through independent research and development breakthroughs, it has successfully trial-produced important spare parts of photovoltaic modules such as photovoltaic connectors and junction boxes, and has begun to test and verify some domestic mainstream photovoltaic module manufacturers. Most of the leading domestic PV module companies have invested and built factories in Vietnam, while the global industrial chain pattern of the company's main business 3C consumer electronics industry has changed, and the supply chain of core customers has migrated to Southeast Asia, especially in Vietnam.
Based on the above background, The company intends to establish Hongyu Solar Energy (Vietnam) Co., Ltd. in Vietnam through Hongyu Technology Co., Ltd. , a wholly-owned subsidiary of Singapore, and Xihe Hong Kong Co., Ltd . Vietnam Hongyu Solar Energy has invested in the construction of solar photovoltaic modules, junction boxes and consumer electronics connectors . We will invest in the construction of a production line with an annual output of 1.2G W high-efficiency solar photovoltaic modules and junction boxes, and an automated production line with an annual output of 300 million consumer electronic connectors and spare parts. The total investment of the project is about 34 million US dollars . The construction period is 6 months. This project is still subject to the approval or filing of the relevant government departments, as well as the approval or registration of the local competent authorities in Vietnam. The board of directors authorizes the management of the company to handle the above related work in accordance with the relevant provisions of laws and regulations.
It is understood that Hongrida Science and Technology Co., Ltd. was established in 2003, and its business scope covers forging and powder metallurgy products manufacturing; industrial automatic control system device manufacturing; metal products research and development; metal products sales; motor manufacturing; photovoltaic equipment and components manufacturing; photovoltaic equipment and components sales; power electronic components manufacturing; Battery spare parts production and sales.
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