on 14th december, tbea announced that xinte energy co., ltd. (hk01799), a holding subsidiary of tbea (600089), signed a sales contract worth over 19.2 billion yuan on primary polysilicon with the seven subsidiaries of xi'an longi silicon materials corp. (collectively “longi silicon materials companies”). according to the contract, longi silicon materials companies will purchase from xinte energy co., ltd. a total of no less than 270,000 tons of primary polysilicon materials from january 2021 to december 2025.
tbea is mainly engaged in power transmission & distribution and new energy business. tbea’s new energy sector mainly includes the production and sales of polysilicon and inverter. xinte energy co., ltd. (hk01799), a hong kong-listed company owned by tbea, mainly manufactures polysilicon and other products. longi is mainly engaged in the r&d, production and sales of monocrystalline silicon rods, silicon wafers, batteries, and components.
zhang xin, party secretary and chairman of tbea, said that longi, as the world's leading photovoltaic energy service provider, has significant technological innovation strength. tbea and longi have strong industrial complementarity and broad cooperation prospects. both sides will realize mutual benefit and win-win through in-depth industrial cooperation, and open a new pattern for the construction of deep-seated and diversified industrial chain cooperation. xinte energy will always adhere to guarantee and support the development of its partners in a high quality and high efficiency manner, and will give full play to its own advantages in future cooperation, strengthen exchanges and explorations on cutting-edge technology cooperation, and jointly push the development of the new energy industry to a new level.
after having an in-depth exchange with zhang xin on the photovoltaic market pattern at home and abroad, future energy development trend as well as in-depth cooperation to boost industry development, li zhenguo, president of longi, said that the cooperation had a good foundation and obvious advantages, and hoped that both sides will carry out in-depth and long-term cooperation in terms of capacity layout and supply chain coordination and complementarity, create a diversified cooperation and exchange platform, and continue to promote the development of the photovoltaic industry.
