On the evening of August 22, 2022, Huangshi Group announced that the company and the Management Committee of Fuyang Economic and Technological Development Zone in Anhui Province signed the "Strategic Cooperation Framework Agreement", regarding the proposed management of Huangshi Group and its subsidiaries in Fuyang Economic and Technological Development Zone. The committee has reached a consensus on investing in the construction of 10,000-head dairy farms, a dairy product deep processing plant project and an annual output of 20GW Topcon high-efficiency solar cell project in the area under the management of the committee. Among them, the 10,000-head dairy farm and dairy product deep processing plant project are invested and constructed by the project company designated by the Huangshi Group; the 20GW Topcon high-efficiency solar cell project with an annual output of 20GW is invested and constructed by Huangshi Agricultural Light Complementary Guangxi Technology Co., Ltd., a subsidiary of the Huangshi Group, and related business partners Joint investment in construction.

According to the Huangshi Group, Huangshi Agricultural and Solar Complementary Company signed the "20GW Topcon Ultra-High Efficiency Solar Cell and 2GW Module Project Investment Agreement" with the Fuyang Economic Development Zone Management Committee. The newly established company within the jurisdiction of the district management committee is the main body of investment to invest in the construction of a 20GW Topcon ultra-high-efficiency solar cell and 2GW module project in Fuyang Economic and Technological Development Zone, Anhui Province. The project is planned to be located in the management area of the Fuyang Economic Development Zone Management Committee. It is planned to be constructed in two phases. The first phase plans to use a plot of about 529 mu to the north of Jiaogang Lake Road and the west of Caihong Road. The second stage plans to use a plot of about 300 mu to the north of Jiaogang Lake Road and east of Huayuan Road. The total investment of the project is about 300 mu. About 10 billion yuan, the fixed asset investment is about 7 billion yuan, of which the equipment investment is planned to be no less than 4 billion yuan, and the investment intensity is planned to be no less than 5 million yuan per mu. The project is planned and constructed in phases, and the first phase of the start-up phase will complete 2GW Topcon ultra-high-efficiency solar cells; in the later stage, it will be constructed simultaneously with the annual output of 20GW N Plus ultra-high-efficiency monocrystalline solar wafer project of Anhui Fuxing New Energy Technology Co., Ltd., which is planned to be until 2023. The construction of the first phase of the 10GW Topcon ultra-high-efficiency solar cell project will be completed and put into production before June 1;

The Royal Group stated that the first phase of the first phase of the project will invest in the construction of 2GW Topcon ultra-high-efficiency solar cells. After reaching production, it is expected to achieve an annual sales of no less than 1.7 billion yuan and an annual tax of no less than 40 million yuan. At the same time when the 2GW module project was launched, the Management Committee of Fuyang Economic and Technological Development Zone agreed that the module project could be invested and constructed by Huangshi Agro-Solar Complementary Company or introduced by partners for investment and construction; 8GW Topcon ultra-high-efficiency solar cells will be invested in the second phase of the first phase, which is expected to be completed after production. Achieve annual sales of not less than 6.8 billion yuan, and annual tax revenue of not less than 160 million yuan. The second phase of investment in 10GW Topcon ultra-efficient solar cells is expected to achieve an annual sales of not less than 8.5 billion yuan and an annual tax of not less than 200 million yuan after reaching production. After the project is fully completed and put into production, it is expected to achieve a total annual sales of not less than 17 billion yuan and an annual tax of not less than 400 million yuan. Editor/Zhao E