Two Listed Photovoltaic Sichuan Enterprises Reach Strategic Cooperation

Securities Times Reporter Zeng Jian

Haitian Co., Ltd. (603759) announced on the evening of March 23 that the company and Tongwei Solar have signed a strategic cooperation framework agreement in writing. Both parties plan to strengthen in-depth technical discussions in the field of photovoltaic cells to achieve continuous product technological innovation and cost reduction and efficiency improvements.

Qichacha shows that Tongwei Solar is a wholly owned subsidiary of Tongwei Co., Ltd. (600438), a leading listed photovoltaic company.

Public information indicates that Tongwei Solar is a globally leading crystalline silicon cell manufacturer. As of now, Tongwei Solar has nearly 15,000 employees across Chengdu, Meishan, Jintang, Tonghe, Pengshan, and Zhongwei companies. Its annual production capacity exceeds 150 GW. The company has ranked first in global cell shipment volume for nine consecutive years and is the industry’s first company to have shipped over 400 GW of cells in total.

In this cooperation, both parties intend to regard each other as important strategic partners. In future collaborations, Tongwei Solar will give priority to using Haitian Co., Ltd.’s slurry and other related products under equal conditions. Both sides will deepen cooperation areas and increase their share of collaboration.

At the same time, Haitian Co., Ltd. commits to providing Tongwei Solar with more competitive products, prices, quality, services, and higher priority in cooperation. The company also promises to actively develop and improve the reliability, stability, and conversion efficiency of its products.

Additionally, both parties will explore product development plans and actively engage in technical cooperation on new products, including but not limited to HJT slurry, TOPCon slurry, and perovskite slurry for various solar cells. Haitian Co., Ltd. will ensure the deployment of personnel and equipment to support Tongwei Solar’s research and development of new products, ensuring compatibility with Tongwei Solar’s new products.

Both sides will establish a joint R&D mechanism, share intellectual property within the scope of cooperative product development, and actively promote the joint development of new products, including applying for intellectual property rights and patents together.

The above strategic cooperation agreement is valid from March 23, 2026, to December 31, 2030; after the expiration date, the agreement will automatically terminate.

Haitian Co., Ltd. is a comprehensive group driven by the dual main businesses of “environmental protection + new energy new materials,” including environmental protection sectors such as water supply, sewage treatment, solid waste treatment, pipeline direct drinking water, and engineering construction. Its new energy materials sector centers on photovoltaic conductive slurry.

In early May last year, Haitian Co., Ltd. announced the completion of the transfer of relevant assets of the former Heli Shi photovoltaic silver paste division. Through this transaction, Haitian Co., Ltd. officially entered the global photovoltaic conductive slurry field.

Regarding the cooperation with Tongwei Solar, Haitian Co., Ltd. stated that this is a key move for the company’s expansion in the new energy sector, aligning with the company’s proactive response to the national “dual carbon” strategy and its development path toward green and low-carbon fields. The relevant projects are being promoted in accordance with legal and regulatory requirements. The implementation of the agreement is expected to positively impact the company’s future annual operating performance and is in line with the company’s long-term development plan and the interests of all shareholders.