Aiko Solar Energy updates guarantees, replaces project funding, and inks equipment deal

Shanghai Aiko Solar Energy announced an update on guarantees for its subsidiaries, Zhuhai Aiko and Zhejiang Aiko. The company recently signed guarantee contracts totaling CNY 2.325 billion for credit facilities, bringing the cumulative guarantee balance to CNY 20.398 billion. This cumulative guarantee represents 683.15% of the company's latest audited net assets and was provided to units with an asset-liability ratio exceeding 70%.

The company also disclosed its plan to use CNY 2,968,550,943.40 of raised capital to replace self-funded investments in its Yiwu Phase VI 15GW high-efficiency crystalline silicon solar cell project and to cover issuance expenses. An additional CNY 864,559.58 of raised capital will be used to replace stamp duty payments. These capital utilization plans have been reviewed and approved by the company’s board and supervisory committee.

Furthermore, Aiko Solar Energy entered into a supplementary agreement with Zhuhai Microcosm Automation System Co., Ltd., a related party, for equipment procurement. This agreement, valued at CNY 89,211,200 (including tax), is for upgrading wet-process production equipment. This transaction, along with other related party transactions within the last twelve months, totals CNY 39,337,500.