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EAST PAYS BIG ENLARGING GLOBALIZATION BY ACQUIRING NINGBO YIZE WITH 2.9 BILLION YUAN
font size: Biginsmall date:2017-11-14 [Print this page]    [Close]

Dongguan-listed company EAST accelerates overseas expansion. Recently, EAST stated that the company is to pay in cash for buying Ningbo Yize’s 100% shares with a trading price of 2.9 billion yuan.

The date revealed that Ningbo Yize’s main business is solar PV product’s research and development, production, processing and sales. Also, its main products are solar modules and solar cells. It is a relatively large-scale manufacturer of PV module and PV cell in Vietnam and throughout Southeast Asia with 1.1 GW cell design capacity and 4.0 GW module design capacity.

EAST said after years of development, Ningbo Yize has accumulated abundant overseas client resources, which is good for expanding overseas business and accelerating the pace of globalization. Meanwhile, EAST will get into the production and sales business area of solar cells and components through Ningbo Yize. It will be beneficial to further improve asset quality and sustained profitability, scale-up company size and enhance risk resistance ability.

For a long time, EAST mainly offers UPS power supply, EPS emergency communication power supply, PV system, intelligent charging system for new energy vehicles, smart microgrid system R&D, manufacturing and sales, etc.

From the point of EAST, this acquisition will promote profitability. Ningbo Yize is engaged in PV cells and modules’ OEM. And its sales business has kept a high growing speed in recent years. With good profitability, it can continuously and stably bring profit support to the listed company. At the same time, Yize’s customer group and global sales have covered a wide range of areas, which can bring EAST business grafting and enlarge the overseas sales scale.

In the meantime, this is an attempt for EAST to improve the company’s business structure and industrial layout. EAST expressed that, in order to consolidate the foundation of the company’s PV business, the company will further increase investment in photovoltaic industry and add PV cells and components’ manufacturing as new main business. The company’s industrial layout also expands to Southeast Asia and the globalization of customer groups will be further enhanced, too.

Source: timedg.com


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