On November 29, 2022, Hengdian Dongci signed an investment agreement with the People's Government of Xuzhou District, Yibin City, and the Administrative Committee of Yibin High tech Industrial Park on the project of new and efficient batteries with an annual output of 20GW, and reached a cooperation intention on establishing a subsidiary of Hengdian Dongci in Xuzhou District, Yibin City, Sichuan Province and investing in the project of new and efficient batteries with an annual output of 20GW step by step.

The total investment of Hengdian Dongci 20GW new high-efficiency battery project is about 10 billion yuan, including about 5 billion yuan of fixed asset investment. The project will be implemented in three phases, of which the first phase will invest in the construction of 6GW of new high-efficiency TOPCon batteries with a total investment of about 3 billion. The second phase is to invest in the construction of a new type of high-efficiency TOPCon battery with an annual output of 6GW, with a total investment of about 3 billion yuan. The third phase is to invest in the construction of the next generation high-efficiency battery with an annual output of 8GW, with a total investment of about 4 billion yuan. The specific construction scale, construction time and technical route of the third phase production line will be promoted according to the production and operation conditions and the maturity of the next generation photovoltaic technology. The project covers an area of about 620 mu, which is developed and constructed by stages. In the first phase, about 380 mu of land is acquired, and about 240 mu of land is reserved.

As a representative of a new type of high-efficiency battery, N-type TOPCon has excellent contact passivation characteristics, high Voc, strong multi carrier transport capacity and other advantages. With the gradual improvement of process maturity and cost economy, its market penetration is also increasing. The company's increased capacity layout of N-type TOPCon battery is not only conducive to building a more complete product echelon, but also can promote cost reduction and efficiency increase of the company's photovoltaic industry, which is conducive to improving the company's market competitiveness. The investment in this project is in line with the basic interests of the company and all shareholders. Editor/Zhao E