Chinese magnetic materials producer Hengdian Group DMEGC Magnetics Co., Ltd yesterday announced the completion of the annual 2 GW high-efficiency module project, which will be gradually put into production.
According to the announcement, the company deliberated and adopted the Proposal on Establishing a Joint Venture and Investing in the Annual 2 GW High-efficiency Module Project at the 10th meeting of the eighth board of directors on December 18, 2020. The project investment is estimated to be RMB 1 billion yuan, including about 250 million yuan in fixed assets. After the project is completed and put into operation, it is expected to realize an annual new sales revenue of RMB 2.399 billion yuan and a total annual profit of RMB 57.92 million yuan.
The company also announced on November 25 the completion of the annual 4 GW high-efficiency large-size mono cell project and has been put into production, which brought the company’s total capacity to 8 GW.
The project was approved and launched by the board of directors on February 5 this year, with the investment budget of RMB 1.226 billion yuan.It is expected to realize a new sales revenue of RMB 2.87 billion yuan and a total annual profit of RMB 226 million yuan.
