On March 22, Red Lion Holding Group Co., Ltd. received formal approval from the State Administration of Market Supervision and Administration, agreeing to acquire the controlling rights of Asia Silicon Industry (Qinghai) Co., Ltd. After the completion of the transaction, Red Lion Group will hold more than 68% of the total equity of Asia Silicon Industry and become the controlling shareholder of Asia Silicon Industry.
Asia Silicon is the world's leading manufacturer of high-purity silicon materials and a national high-tech enterprise. At present, the annual production capacity of polysilicon is 90,000 tons, and the output and quality are among the top in the world. Over the years, the Asian Silicon Industry has continued to cultivate its main business, making use of Qinghai's abundant clean energy advantages to manufacture polysilicon products with green power, effectively reducing carbon emissions, and making photovoltaic modules from downstream customers to produce more green power, thus realizing the role of "green power amplifier". Based on technological R & D and innovation, the company has many innovative platforms, such as Qinghai Silicon Material Engineering Research Center, Qinghai Silicon Material Key Laboratory and Post-doctoral Research Workstation, and is one of the first modern polysilicon enterprises in China to independently carry out process package design and realize fully closed-circuit clean production. It is a national intellectual property superior enterprise, a national technological innovation demonstration enterprise and a national green factory.
Hongshi Group is one of the top 500 enterprises in China and one of the top 500 private enterprises in China. It has more than 50 large-scale cement enterprises in 12 provinces in China and 4 countries such as Laos, Nepal and Indonesia. Its annual cement production capacity is 120 million tons, ranking among the top four in China. It is the second largest shareholder of Hangzhou Bank (stock code: 600926). By the end of 2022, Red Lion Group had total assets of 72.1 billion yuan and more than 17000 employees. In 2022, it achieved sales revenue of 66.5 billion yuan and tax revenue of 3.2 billion yuan.
With the implementation of the national "double carbon" strategy, new energy has entered a period of rapid development. Hongshi Group has determined its future development strategy: based on the main cement industry, enter the polysilicon industry, strengthen and refine the main cement industry, accelerate the layout of the polysilicon industry to form a scale, create the "second growth curve", and build a "cement + polysilicon" dual main industry pattern.
With the help of strategic partner Haohao Capital, Red Lion Group and Haohao Capital jointly acquired the controlling rights of Asian Silicon Industry. As the deal was finalized, the private cement giant's "dual main business" pattern began to take shape. Zhang Xiaohua, chairman of
Red Lion Group, said, Red Lion Group has been focusing on the main cement industry for more than 20 years, and has accumulated certain management experience and scale advantages. "Double carbon" is the main line of economic growth, and new energy is the main way to reduce carbon, which can promote social progress and is conducive to national energy security. The photovoltaic industry has broad prospects for development. Polysilicon is an important raw material in the industrial chain, which matches the organizational capacity of Red Lion. Entering the polysilicon industry is also a new opportunity for Red Lion. Asia Silicon is a leading polysilicon enterprise in the industry, and the successful cooperation with Asia Silicon will greatly accelerate the pace of Red Lion's entry into the polysilicon industry. Dr. Shi Zhengrong, the former actual controller of
Asia Silicon Industry and the pioneer of China's photovoltaic industry, said, "At the critical moment when Asia Silicon Industry encountered a downturn in its early development, I invested and supported Asia Silicon Industry out of my trust in Dr. Wang Tihu, the founder of the company, and my confidence in the bright future of the photovoltaic industry.". Now that the company has grown up, Red Lion Group, which has stronger strength and ambition for the photovoltaic industry, is needed to help the company move towards the next more ambitious development goal. As a veteran of the photovoltaic industry, I will continue to support the company's future development with my own strength. Dr. Wang Tihu, chairman of
Asia Silicon, said, "The new energy industry has broad prospects for development. Asia Silicon has accumulated rich industry experience, formed a leading technological advantage, and gathered an excellent talent team. Over the past 10 years, with the support of Dr. Shi Zhengrong, the company has gone through various market tests and technological innovations, and has made considerable progress."; It is believed that the future development prospects of Asian silicon industry will be better if the comprehensive advantages of Red Lion Group are superimposed. Haohao Capital, another investor in
this transaction, has been deeply engaged in the photovoltaic industry chain for many years, focusing on exploring investment opportunities in the photovoltaic industry chain. It has successively invested in silicon wafer enterprise Meike Solar Energy, battery and component enterprise Zhengtai Xinneng, household photovoltaic leading enterprise Zhengtai Anneng, photovoltaic equipment enterprise Laplace, etc. This transaction completes the last piece of jigsaw puzzle of Hao Hao Capital in the layout of the main photovoltaic industry chain. Huang Jifa, co-president
of Haohao Capital, said, "Under the general trend of global energy structure change and the continuous decline in the cost of photovoltaic power generation, the market demand for photovoltaic products will continue to rise, the photovoltaic industry will remain a long slope and thick snow in the future, and the key links of the industrial chain will continue to benefit.". Haohao Capital has established a close strategic cooperative relationship with key enterprises in all links of the industrial chain, and will work side by side with Asia Silicon Industry and Red Lion Group for a long time to create good economic benefits and green value.
In the future, Hongshi Group and Asia Silicon Industry will give full play to their comprehensive competitiveness in capital, technology, brand and talents, base themselves on Qinghai's clean energy advantages, take Asia Silicon Industry as the main body, accelerate the construction of Hongshi Group's polysilicon business sector, and make greater contributions to the early realization of the "double carbon" goal.
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