Tongwei scraps Runyang deal, eyes alternative collaboration

Tongwei Co., Ltd. (SSE:600438) has announced the termination of its intended capital increase in Jiangsu Runyang New Energy Technology Co., Ltd. (Runyang). The decision, approved by Tongwei's board after extensive due diligence and negotiations, stems from the inability to reach a consensus on certain business terms. While the formal investment is off the table, Tongwei and Runyang are now exploring potential collaborative opportunities within Runyang's polysilicon business, leveraging Tongwei's industry expertise.