Solargiga Energy Holdings Limited (“Solargiga” or the "Company", and its subsidiaries, the "Group") is the only enterprise in China honored as "National Product Exemption from Quality Surveillance Inspection" on monocrystalline silicon ingot for solar cell. As a high tech enterprise with capacity of developing, manufacturing and marketing monocrystalline silicon products, the Company was listed on the Main Board of The Stock Exchange of Hong Kong Limited on 31 March 2008. The stock code is 757.
Solargiga is a leading manufacturer of monocrystalline silicon products in China at present. The production bases are located at Jinzhou and Shanghai. There are 397 sets of monocrystalline ingot pullers, 83 sets of wiresaws, with annual production capacity of approximately 800MW and 600MW of monocrystalline silicon solar ingots and wafers, respectively. In addition, on 6 July 2010, the Group has entered into an agreement with the Xining Economic & Technology Development Zone Administration Committee to acquire a 51% equity interest in Qinghai Chenguang New Energy Co., Ltd.(“Solargiga Energy ( Qinghai) Limited company”) and to jointly invest and establish a new plant with 192 monocrystalline ingot pullers,The first phase of the project has been completed and put into operation in July 29th. Annual capacities totaling approximately 400MW and 400MW of monocrystalline silicon ingot and wafer, respectively, is expected to be added by the end of 2011. Hence, the total annual production capacities of Solargiga’s monocrystalline silicon ingot and wafer will reach 1,200 MW (1.2GW) and 1000MW, respectively, leading the Company to be the world’s leading manufacturer of monocrystalline silicon ingot. The Group’s main products are Φ5.5"-Φ8" solar monocrystalline silicon ingots and wafers, most of which have been sold to various countries and regions including Mainland China, Japan, Germany, Spain, North American, Taiwan, Hong Kong. The technology and process have reached international advanced level.
In addition to expanding the production capacity of monocrystalline silicon solar ingots which the Group enjoys technical advantages, Solargiga actively develops businesses of polysilicon products so as to satisfy its clients’ demand and to achieve lateral expansion. Currently the Group owns 4 multicrystalline casting furnaces with an annual capacity of 20MW of multicrystalline silicon solar wafers. On 21 September 2010, the Group entered into a cooperation framework agreement with Liaoning Oxiranchem, Inc. (“Liaoning Aoke”, SZSE stock code: 300082.SZ) for the establishment of the joint venture company to engage in the business of manufacturing multicrystalline silicon solar ingots and wafers with a production capacity of 500MW, which is expected to be completed and commence operation by the end of 2011. The project will facilitate the Group with a platform and the resource bases for its further integration and development of monocrystalline and multicrystalline silicon ingots and wafers businesses.
In January 2011, the Group successfully acquired Jinzhou Huachang Photovoltaic Technology Co., Ltd (“HPT”) which is principally engaged in the business of manufacture of silicon solar cells. Such acquisition enables the Group to accelerate its development of downstream solar businesses and to secure a reliable source of silicon solar cells for its module business whilst improving the operational efficiency of the Group’s module business. The acquisition can also allow the Group to understand the downstream customers’ demand, so as to promptly develop new products which can satisfy customers’ requirements and to bring synergy to the Group’s existing business of wafer and ingot manufacturing. HPT has completed its expansion plan and its annual production capacity has been expanded from 100MW in mid-2010 to 300MW currently. Part of such expansion in production capacity is to accommodate the increased demand from existing domestic clients, while the remaining expanded capacity has been secured by two renowned clients in the industry from Japan and the US.
Solargiga expanded its businesses to solar energy photovoltaic modules and system installation through a joint venture company in Jinzhou, thereby developing the solar downstream businesses and thus achieving its business strategy of vertical integration gradually. the production capacity of solar energy photovoltaic modules currently reaches 100MW approximately and will be further expanded to 200MW by the end of this year. In regards to the solar power generation system at the bottom-stream business, the two pilot power stations in Jingzhou, Liaoning Province and Pingdingshan, Henan Province are currently in operation, while the newly added 13.5MW project is expected to be completed gradually within this year, thereby achieving the target of emphasizing on both lateral expansion and vertical integration.
In order to ensure polysilicon raw materials supply and cost control in the next few years and to support the Group’s steady growth in the long run, the Group will maintain long-term and stable business relationships with a number of suppliers. Notably it has entered into a long-term supply agreement of polysilicon with Wacker, an internationally renowned polysilicon raw materials supplier, by which products totaling 10,150 tonnes in a term of 6 years have been being delivered to the Group since January 2011.
Solargiga pays much attention to cooperating with international enterprises and focuses on solar technology research and development. Taiwan Wafer Works Corporation, Japan Space Energy Corporation and Sumitomo Corporation are the shareholders of the Company. In addition to the establishment of solar technology R&D center jointly with Dalian University of Technology, Solargiga set up a maketing center in Shanghai in 2009 and has its sales representatives posted in Japan and the US. The Company aims to build up powerful alliances with a view to strengthening its business chain, expanding market network and enhancing technology level, thus increasing the core competitiveness of the Company.
Solargiga Energy Holdings Ltd. is in an industry with high growth potential. Upholding its motto of "Good faith, innovation, competition, excellence", the Company strives to provide world-class products and to become a world's leading enterprise in the solar energy industry, through technological innovation, standardized management, strengthening quality, good faith management and high quality services. |