On May 12, Deli announced that. Bengbu Deli Solar Energy Material Co., Ltd. (Hereinafter referred to as "Bengbu Solar Energy"), a wholly-owned subsidiary of the company, cancelled the Long-term Purchase Agreement for Photovoltaic Glass signed with 10 wholly-owned subsidiaries of Longji Green Energy in April 2021.
The announcement shows that the reason for the termination is that in April 2024, Bengbu Photovoltaic Glass Production Line was ignited and put into operation, and the production capacity has been climbing, but affected by the structural contradiction between supply and demand in the photovoltaic industry, since the second half of 2024. The price of photovoltaic glass continued to decline, resulting in the inversion of product price and cost, and a large loss.
In response, the company adjusted its response in time, and Bengbu Solar Energy stopped production in January 2025. Judging from the current changes in supply and demand in the industry, the original contract has not been actually performed, and both parties confirm that there is no need to continue to perform it.
It is understood that in April 2021, Deli signed the Long-term Purchase Agreement for Photovoltaic Glass with 10 wholly-owned subsidiaries of Longji Green Energy, and reached a cooperative intention on the sale of photovoltaic glass, with an estimated total contract value of about 5.531 billion yuan .
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