Shenzhen Stock Exchange Accepts New IPO Application of Hongxi Energy

According to the official website of

Shenzhen Stock Exchange, the GEM IPO of Zhejiang Hongxi Energy Co., Ltd. (Hongxi Energy) has been accepted. The

company intends to raise 1.5 billion yuan in this issue, which is mainly invested in the new generation of N-type high-efficiency solar cells (TOPCon and heterojunction) project (Phase I), supplementary liquidity and other projects. The sponsor of this issue is CITIC Securities Co., Ltd. According to

the data, the main business of Hongxi Energy is the research and development, production and sales of solar cells.

Financial data show that from 2020 to 2022, the company realized business income of 908 million yuan, 1.213 billion yuan and 2.504 billion yuan respectively, and realized net profit of-179 million yuan,-149 million yuan and 192 million yuan respectively. In terms of growth, the company's operating income increased by 106.38% in 2022, and its net profit increased by 229.02% year on year.