Xinjiang Silk Road Kunyuan Energy Company Limited and China Power Investment Northeast New Energy Development Co., Ltd. completed the acquisition of Dunhuang JA Solar Power Development Co., Ltd. from JA Solar Technology Co., Ltd..
December 30, 2020
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Xinjiang Silk Road Kunyuan Energy Company Limited and China Power Investment Northeast New Energy Development Co., Ltd. agreed to acquire Dunhuang JA Photovoltaic Electric Power Development Co., Ltd. from Dunhuang JA Photovoltaic Electric Power Development Co., Ltd. for approximately CNY 310 million on November 23, 2020. In a related transaction, China Power Investment Northeast New Energy Development Co., Ltd. agreed to acquire Chifeng JA Photovoltaic Power Generation and Jarud Banner JA Photovoltaic Power Generation for approximately CNY 170 million. Dunhuang JA Photovoltaic Electric Power Development has total assets of CNY 875.5 million, net assets of CNY 311.8 million as of June 30, 2020 and generated revenues of CNY 98.2 million and net profit of CNY 23.5 million for the year end December 31, 2019. The Board of directors of Dunhuang JA Photovoltaic Electric Power Development approved the transactions and do not need the shareholders’ approval.
Xinjiang Silk Road Kunyuan Energy Company Limited and China Power Investment Northeast New Energy Development Co., Ltd. completed the acquisition of Dunhuang JA Solar Power Development Co., Ltd. from JA Solar Technology Co., Ltd. (SZSE:002459) on December 1, 2020. JA Solar Technology Co., Ltd. (SZSE:002459) has recently received the first transaction consideration CNY 107 million
JA Solar Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of silicon wafers, solar cells and solar modules. The Company is also engaged in the development, construction and operation of solar photovoltaic power plants. The Company's main products are solar modules, including polycrystalline silicon solar modules and monocrystalline silicon solar modules. Its silicon wafers include monocrystalline silicon wafers and polycrystalline silicon wafers. Its monocrystalline silicon wafers are mainly used for processing monocrystalline silicon solar cells, while its polycrystalline silicon wafers are mainly used for processing polycrystalline silicon solar cells. Its solar cells mainly include monocrystalline silicon cells and polycrystalline silicon cells. The Company mainly distributes its electricity produced by photovoltaic power plants to grid companies. The Company conducts its businesses in domestic and overseas markets.
Xinjiang Silk Road Kunyuan Energy Company Limited and China Power Investment Northeast New Energy Development Co., Ltd. completed the acquisition of Dunhuang JA Solar Power Development Co., Ltd. from JA Solar Technology Co., Ltd..