TBEA’s Subsidiaries and Shuangliang Silicon Materials Seals a Long-Term Polysilicon Supply Agreement That Is Worth CNY 51.744 Billion

published: 2022-07-28 9:30 | editor: | category: News

TBEA announced on July 12 that its subsidiaries Xinte Energy, Xinjiang Xinte Crystal Hi-Tech, Inner Mongolia Xinte Silicon Materials, and Xinte Silicon New Materials have signed a strategic cooperation sale and purchase agreement with Shuangliang Silicon Materials (Baotou). Xinte Energy, Xinjiang Xinte, and Inner Mongolia Xinte are TBEA’s holding subsidiaries, whereas Xinte Silicon New Materials are TBEA’s wholly-owned subsidiary.

Under this agreement, Shuangliang Silicon Materials will procure a total of 201,900 tons of raw polysilicon from TBEA’s subsidiaries during the period from January 2023 to December 2030. The price will be negotiated on a monthly basis.

Taking account of the latest domestic average transaction price of monocrystalline dense material that was published by the Silicon Industry Branch of China Nonferrous Metals Industry Association on July 6, the value of the deal between TBEA’s subsidiaries and Shuangliang Silicon Materials is estimated to reach CNY 51.774 billion (excluding tax). This figure does not represent an actual price commitment. TBEA said this deal will contribute to the steady growth in the company’s sales of polysilicon products and enhance the company’s position in the market.

announcements add announcements     mail print