Invest another 1.5 billion to expand 3GW! Total 8GW! Three-Five Interconnection to Expand Production Capacity of Heterojunction Batteries

On the evening of February

26, the 35 Interconnection Announcement disclosed that Tianjin Communications, a holding subsidiary of the company, and the Danling County People's Government signed the Supplementary Agreement to the Investment Cooperation Agreement for the First Phase of the New Energy 5GW Heterojunction Battery Project, with an additional investment of about 1.5 billion yuan in the construction of 3GW high-efficiency heterojunction batteries. The further expansion of the project scale and production capacity of

the Three-Five Interconnection combines the current market situation of the photovoltaic industry and the company's own development strategy needs to grasp the market opportunities for the growth of the photovoltaic industry.

The announcement shows that on January 11, 2023, Tianjin Communications, a holding subsidiary of the company, signed the Agreement on Investment Cooperation for the First Phase of New Energy 5G W Heterojunction Battery Project with the People's Government of Danling County, Meishan City, Sichuan Province, and Tianjin Communications will invest in the construction of "5G Intelligent Factory for 5GW Ultra-High Efficiency Heterojunction (HJT) Battery" in Danling County. The total investment of the project is about 2.5 billion yuan. After the

new investment, the project will build a production line of 8g W high-efficiency heterojunction cells, with a total investment of about 4 billion yuan. According to the overall strategic planning, the company will make overall arrangements for construction, equipment procurement and other matters.

According to the prediction of the Three-Five Interconnection, after the completion of the 8GW high-efficiency heterojunction battery project, according to the current market price of the high-efficiency heterojunction battery, it is estimated that the annual operating income of the project will be about 9.5 billion yuan, and the annual value-added tax and income tax will be about 380 million yuan.

Photovoltaic energy is considered to be the most important new energy in the 21st century. According to public information, China's photovoltaic industry has developed rapidly in recent years. As the core part of the photovoltaic industry, solar cells belong to the high-tech photovoltaic industry and are the key high-tech products developed by the state.

Experts say that high-efficiency heterojunction cells have the advantage of higher output power than traditional solar cells. Under the same wattage, the use of heterojunction cells saves more on land use and photovoltaic balance system costs (BOS, system components other than components). In the future, heterojunction products will have lower electricity costs at the application end of power plants. It will be an important direction to achieve parity access to the Internet or to replace other energy sources for power generation.