On April 3, GCL that Jiangsu Zhongneng Silicon Technology Development Company Limited, an indirect wholly-owned subsidiary of the Company, recently entered into a long-term purchase contract for the procurement of polycrystalline silicon feedstock (granular silicon) with LONGi Green Energy Technology Company Limited as the seller and LONGi Green Energy Technology Company Limited as the buyer.
According to the announcement, pursuant to the Purchase Contract, up to the end of 2026, Jiangsu Zhongneng and/or its affiliates agreed to sell, and LONGi Green Energy and/or its affiliates agreed to purchase, a total of approximately 425,000 tons of polycrystalline silicon feedstock (granular silicon).
Specifically, an aggregate of approximately 125,000 tons of polysilicon feedstock (granular silicon) will be purchased during 2024; an aggregate of approximately 150,000 tons of polysilicon feedstock (granular silicon) will be purchased during 2025; and an aggregate of approximately 150,000 tons of polysilicon feedstock (granular silicon) will be purchased during 2026.
The actual procurement volume is subject to a 10% fluctuation (to be determined by LONGi Green Energy). LONGi Green Energy and/or its affiliates will issue monthly orders for the procurement of polysilicon according to their respective requirements.