Jolywood released public notice that a joint cooperation between Yingli Solar (China), Shanghai Yijing Capital is agreed based on N type mono double side cells , the three parties will start deep cooperation regarding to capital , technical and bossiness sectors. The three parties together acquired Shanghai Boxi Electric, which will be the platform for its business operation, technical coopration and capital operation.
Jolywood’s main business is solar module backsheet, now it has been the leading enterprise in this sector, supplied more than 9 GW backsheet worldwide. From this acquirement , the Yingli “Panda”cells manufacturing line will be improved and upgraded, new technology will be put into use in the future manufacturing N type mono high efficiency solar cells. 8 lines will be upgraded, upto 400MW capacity. Technical adjustment will be finished before 2016 year end,by then it will fulfill the demand for its clients’ solar power station requirement , including Jolywood’s own solar plant.
Jolywood ,Yingli and Yijing will acquire 110 million shares from Boxi Electric, from which Jolywood acquires 64.4 million shares, Yingli acquires 23 million shares and Yijing Capital acquires 22.6 million shares.Through the above acquirement , Jolywood will expand its traditional backsheet business area to N type mono cells and solar power plant investment.