The Board of Productive Technologies Company Limited announced that on 22 August 2023, the Company signed the purchase order with its customer of inline copper electroplating equipment, Incellplate Cu series (the "Product"). The revenue from the purchase order is yet to be recognized. To the best of the Directors' knowledge, information, and belief, having made all reasonable inquiries, the customer and its ultimate beneficial owner are third parties independent of the Company and its connected persons as of the date of this announcement.

The copper electroplating technology, which can be applied in N-type solar cell technologies (i.e., TOPCon, HJT, and IBC), adopts base metal as interconnect material instead of precious metal silver for metallization, effectively reducing production costs. Compared with the conventional screen-printing technology, the copper electroplating technology is expected to achieve cost reduction of RMB 0.02 per watt to RMB 0.04 per watt. The copper metallized electrode has a smaller metal wire resistance of 1.7O.m, which provides greater conductivity.

The thinner copper grid line produces relatively less optical loss. Moreover, the inner side of the copper metallized electrode is dense and well-distributed, which can effectively reduce the ohmic loss of the electrode. Accordingly, copper electroplating can increase battery conversion efficiency by 0.3% to 0.5% compared with the conventional technology.

Incellplate Cu series equipment, developed from the multi-functional inline electroplating process, adopts the horizontal inline electroplating method, one of three mainstream electroplating methods (i.e., vertical electroplating, horizontal inline electroplating, and insert electroplating), for its two salient advantages as follows: The horizontal inline electroplating method features adaptation to a wide range of sizes, fully automatic operation, and thus a relatively high production capacity; and 2) During the horizontal inline electroplating process, the battery surface can be evenly immersed in the solution, which ensures an even electroplating layer and stable cell. Incell plate Cu series equipment is compatible with different metal electroplating methods and diverse battery structure types, and provides stable and reliable current supply and distribution during the transmission of electric energy in a cell, creating an encapsulating process solution for equipment operation, material application, process design and waste liquid recycling. The Product is a piece of metallization processing equipment applied to solar cell manufacturing.

Based on principle of electrolysis, the Product adopts electrodeposition to coat one particular metal in a layer of metals or alloys, achieving electrode molding for solar cells.