According to Zhito Finance APP, Goldensolar (01121) announced that the company and its wholly-owned subsidiary, Shanyang County Goldensolar Technology Co., Ltd. (target company), have entered into several agreements for the construction of a new heterojunction high-efficiency 0.2 million kilowatt photovoltaic solar power station project in Shanyang County, Zhangjiakou City, Hebei Province. The group has been assigned rights to develop the project in accordance with applicable laws in China, and the target company has been established to undertake the project.

The target company has entered into an Engineering, Procurement, and Construction (EPC) contract for the project, with a contract amount of approximately 0.9 billion yuan.

In addition, the company and the target company have entered into a legally binding letter of intent to sell all of the company’s equity in the target company, intending to sell 100% of the target company's equity to the Beijing branch of jncec for approximately 1 million yuan.

The announcement stated that the group will assist in the construction of the target company's 0.2 million kilowatt power station, including the provision of photovoltaic products. The board of directors believes that entering into the letter of intent and the EPC contract will open new sales channels for the group’s photovoltaic products, thereby enhancing the group’s future revenue. In addition, this project marks the group’s first collaboration with a large domestic power generation enterprise in China. Besides existing overseas flexible components and solar shading products targeting the household market, the group, as a major supplier of photovoltaic equipment, will utilize this foundation to promote the group’s hybrid passivated back contact solar module products in both centralized power station applications in China and internationally.