21, Sanchao New Material announced that. Intends to use no more than 270 million yuan to purchase assets such as P3 factory buildings, land use rights, machinery and equipment, electronic equipment and low-value consumables disposed by the administrator of Wuxi Suntech Solar Power Co., Ltd. (Hereinafter referred to as "Wuxi Suntech").
The announcement shows that since July 9, the underlying assets have been auctioned publicly on the Jingdong Asset Trading Platform, and the administrator has confirmed that the valuation of the underlying assets is about 353 million yuan, which has gone through two rounds of auction . Recently, the administrator will conduct the third round of public auction on the statutory asset trading platform.
For participating in the auction, Sanchao New Material said it could quickly meet the production and operation needs of the company and its subsidiaries. Among them, the mature industrial plant is used for the construction of battery technology research and development experimental base project, which can shorten the construction cycle of plant facilities, promote the installation of experimental equipment and other work, and accelerate the landing of the project.
It is noteworthy that in August 2025, Zou Yuyao, the original controller of Sanchao New Material, and Liu Jianxun, a shareholder holding more than 5% of the shares, signed an equity transfer agreement with Boda Unity. It was agreed that Boda Heyi would transfer a total of 18,985,384 shares in two phases by way of agreement transfer.
Three months later, the equity delivery was completed, Sanchao New Material officially changed ownership, and the actual controller was changed to Liu Jingqi. By October 2026, in order to better match the ownership structure, Sanchao New Material decided to change its name to "Wuxi Boda New Energy Technology Co., Ltd.".
It is noteworthy that, in addition to the above companies, another subsidiary of Boda Unity, Wuxi Boda Xinneng Technology Co., Ltd., currently has three manufacturing bases in the world, located in Vietnam, Indonesia and Egypt. According to the incomplete statistics of digital new energy DataBM. Com, the total capacity of the above three production bases of Boda Xinneng exceeds 10 GW . Changed hands
several times! The assets in
this auction are from Suntech, Wuxi. It was founded by Shi Zhengrong, the "Godfather of Photovoltaic in China ", in Wuxi, Jiangsu Province, in January 2001, mainly engaged in photovoltaic module manufacturing, and successfully listed on the New York Stock Exchange in 2005.
The good times did not last long. Influenced by the fluctuation of the industry cycle, Wuxi Suntech went bankrupt and reorganized for the first time in 2013, and was eventually taken over by Shunfeng Photovoltaic Company.
However, the change of ownership did not completely reverse the plight of Suntech in Wuxi. In December 2024, due to the difficulty of its own operation, Shunfeng Photovoltaic Company signed the Cooperative Operation Agreement with Xiamen Jianfa Emerging Energy Co., Ltd ., but the cooperation agreement was terminated seven months later.
At that time, Hongyuan Green Energy, known as "Xiaolongji" in the industry, made a quick move, and its holding subsidiary Hongyuan Solar Energy signed an agreement with Shunfeng Photovoltaic Power in the same month (July 2025) to help maintain its stable operation. The agreement is valid for five years.
However, Hongyuan Green Energy is also facing greater performance pressure in recent years. According to the data, in 2025, Hongyuan Lvneng achieved a net profit of 187 million yuan attributable to the parent company and a net profit of -325 million yuan after deduction of non-profits; in the first half of 2026, Hongyuan Lvneng achieved a net profit of -679 million yuan attributable to the parent company and a net profit of -484 million yuan after deduction of non-profits.
In March this year, Hongyuan Green Energy disclosed that its holding subsidiary Hongyuan Solar Energy had signed a restructuring investment agreement with Wuxi Suntech and its administrator to participate in its bankruptcy reorganization. According to the plan, Hongyuan Solar Energy and Wuxi Suntech will jointly set up a new Suntech with a registered capital of 1 billion yuan. Among them, Hongyuan Guangneng will invest 630 million yuan, hold about 63% of Xinshangde's equity, and form an investment consortium as a leading investor to introduce other investors .
At the same time, after Hongyuan Green Energy announced the establishment of New Suntech, Hongyuan Solar Energy will pay Wuxi Suntech 142 million yuan for the reorganization investment through New Suntech after the court approved the reorganization plan, which will be used to acquire the assets needed for the operation of New Suntech. ( 630 million!)! "Xiaolongji" wants to build "New Suntech" )
By August this year, the bankruptcy reorganization of Suntech in Wuxi has been executed by the court. The announcement disclosed that as of May 26, 2025, the audited total assets of Suntech in Wuxi were 537 million yuan, the total liabilities were 4.578 billion yuan, and the net assets were-4.041 billion yuan, which was in a state of serious insolvency.
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