The Big Fund invests in polysilicon.

Poly Xinxin (03800) announced that its wholly-owned subsidiary, Jiangsu Zhongneng, has entered into a joint venture agreement with the China Integrated Circuit Industry Investment Fund (CIF). The two parties have agreed to establish a joint venture company to build in China a production facility for the research and development, manufacturing, and sale of semiconductor-grade polysilicon and other semiconductor raw materials and electrochemical products. According to the joint venture agreement, the total investment and initial registered capital of the joint venture will be RMB 2 billion (approximately HK$2.42 billion) and RMB 1.02 billion (approximately HK$1.234 billion), respectively. Jiangsu Zhongneng and CIF will each contribute RMB 520 million (approximately HK$629 million) toward the initial registered capital.

Poly Xinxin (03800) announced that its wholly-owned subsidiary, Jiangsu Zhongneng, has partnered with the National Integrated Circuit Industry Investment Fund. (CIF) Enter into a joint venture agreement, under which both parties agree to establish a joint venture company, and... China Built for the R&D, production, and sales of semiconductor-grade products. Polycrystalline silicon and other production facilities for semiconductor raw materials and electrochemical products. According to the joint venture agreement, the total investment and initial registered capital of the joint venture will be: 20 100 million RMB ( About 24.2 100 million Hong Kong dollars ) and 10.2 100 million RMB ( About 12.34 100 million Hong Kong dollars ) , Jiangsu Zhongneng and CIF Contribute the initial registered capital accordingly. 5.2 100 million RMB ( About 6.29 100 million Hong Kong dollars ) and 5 100 million RMB ( About 6.05 100 million Hong Kong dollars ) The joint venture will be established by Jiangsu Zhongneng and CIF Each has 50.98% and 49.02% equity interests and will become a non-wholly-owned subsidiary of the company. Since Jiangsu Zhongneng primarily engages in manufacturing, Photovoltaic With regard to the polysilicon business required by the company, the joint venture enables the Group to expand its product portfolio horizontally into semiconductor-grade polysilicon. This move further strengthens the Group’s position as a global leading polysilicon producer.

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