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Solar equipment provider injects 530 million in TOPCon cell facility R&D

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Autowell Technology Co., Ltd, China-based automation equipment manufacturer in the photovoltaic and lithium-ion battery industry, today announced to raise RMB 530 million yuan for the research and development of TOPCon cell equipment, semiconductor packaging and testing core equipment and other high-end intelligent equipment.

The company plans to issue no more than 7,529,478 shares with issue price of RMB 70.39 yuan per share, accounting for RMB 530 million in total. This issuance will not lead to changes in the control of the issuer.

The raised fund will be applied in:

  • R&D and industrialization of high-end intelligent equipment

Such as developing high-end intelligent equipment applied in n-type crystalline silicon photovoltaic cells, semiconductor packaging and testing, and lithium cell core process manufacturing to realize industrialization.

  • Science and technology reserve fund

The company will set RMB 150 million yuan of the raised funds as the "science and technology reserve fund", which will be used for the company's external strategic investment, technical cooperation, R&D and other needs.

  • Working capital replenishment

The company plans to take RMB 90 million yuan to supplement the working capital. Based on considerations on existing capital structure, working capital demand gap and future strategic development objectives, Autowell decided to appropriately replenish working capital to reduce the company's asset liability ratio, optimize the capital structure to meet future operation and development needs.


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