Chinese equipment provider Shuangliang Eco-Energy Systems Co. Ltd. announced on June 1 that it has won a series of equipment contracts with polysilicon suppliers. First, its wholly-owned subsidiary Jiangsu Shuangliang Cooling System Co. Ltd. will be supplying industrial dry-cooling systems to Xinte Energy Co. Ltd. for RMB 126 million. If this transaction is successfully carried out, it will contribute to Shuangliang’s revenue and net profit for this year. A dry-cooling system is integrated into a larger furnace system that is used in the production of polysilicon. By capturing this contract, Shuangliang has demonstrated the applicability of its solutions in the field of polysilicon production as well as its own ability to sustain profit generation.
Shuangliang’s other subsidiary Jiangsu Shuangliang New Energy Equipment Co. Ltd. has also inked an equipment contract with Xinte. This deal is worth around RMB 205.4 million. Together, the two contracts are estimated to account for 5.36% of the company’s audited income for the fiscal year of 2021.
Shuangliang New Energy Equipment has also recently won orders for reduction furnaces from Inner Mongolia Dongli Photovoltaic Electronics Co. Ltd. and Xinjiang Qiya Silicon Industry Co. Ltd. Both Dongli and Qiya are procuring furnaces that can produce up to 72 pairs of polysilicon rods at a time. The deal with Dongli is valued at RMB 243 million. As for Qiya, it issued a tender for the furnaces, and Shuangliang then made a successful bid that captured the entire procurement quantity for a value of around RMB 410 million.
The equipment shipped to Dongli will be deployed in a production base with a polysilicon production capacity of 48,000 metric tons per year. The equipment shipped to Qiya will be used to support a polysilicon manufacturing project with a production capacity of 200,000 metric tons per year. The news about all of these aforementioned transactions was first reported by other Chinese news outlets.