On September 25, Yubang New Material announced the termination of the project "Anhui Yubang New Material Co., Ltd. 'S annual output of 20,000 tons of photovoltaic welding strip production project", and the remaining raised funds will be permanently replenished with liquidity.
As for the reasons for the termination, Yubang New Material said that in the feasibility study stage of the above-mentioned project, the photovoltaic industry is in a period of rapid development, and the market demand for photovoltaic welding strip products continues to increase. The company plans to expand its production capacity and enhance its order acceptance and delivery capacity through investment projects. However, in the middle and later stages of project implementation, due to the great changes in the market side of the photovoltaic industry, the development of the domestic photovoltaic industry chain has experienced a phased imbalance between supply and demand, and the profitability of the company's photovoltaic welding strip products has also continued to bear pressure; Superimposed photovoltaic cell technology presents a state of rapid iteration of multiple routes, resulting in greater uncertainty in the product demand of the original project planning. In February
2023, Yubang New Material announced a plan to issue convertible corporate bonds to non-specific targets, with the total amount of funds raised by issuing convertible corporate bonds not exceeding 500 million yuan (including this number). The raised funds will be used for the production project of Anhui Yubang New Materials Co., Ltd. with an annual output of 20,000 tons of photovoltaic welding strips and supplementary working capital.
Among them, Anhui Yubang New Materials Co., Ltd. plans to locate in He County, Maanshan City, Anhui Province, with a total investment of 441.73 million yuan. It plans to purchase land and build its own plant in the place where the project is implemented, and build an efficient photovoltaic welding strip production line by purchasing advanced production equipment. According to the prospectus for the issuance of convertible bonds at that time, the above-mentioned project was originally planned to be implemented in July 2023 with a construction period of three years. In May
this year, Yubang New Material responded to the implementation progress of the above-mentioned photovoltaic welding strip production project with an annual output of 20,000 tons at the performance presentation meeting in 2025 and the first quarter of 2026, saying: Up to now, the project construction has been completed and accepted, and the plant has been put into production and use. At present, the progress of project implementation is normal, and the construction of production capacity is being steadily promoted in accordance with the company's business plan, and there is no risk of project implementation delay.
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