On 14th December, TBEA announced that Xinte Energy Co., Ltd. (HK01799), a holding subsidiary of TBEA (600089), signed a sales contract worth over 19.2 billion yuan on primary polysilicon with the seven subsidiaries of Xi'an LONGi Silicon Materials Corp. (collectively “LONGi silicon materials companies”). According to the contract, LONGi silicon materials companies will purchase from Xinte Energy Co., Ltd. a total of no less than 270,000 tons of primary polysilicon materials from January 2021 to December 2025.
TBEA is mainly engaged in power transmission & distribution and new energy business. TBEA’s new energy sector mainly includes the production and sales of polysilicon and inverter. Xinte Energy Co., Ltd. (HK01799), a Hong Kong-listed company owned by TBEA, mainly manufactures polysilicon and other products. LONGi is mainly engaged in the R&D, production and sales of monocrystalline silicon rods, silicon wafers, batteries, and components.