Shanghai Aiko Solar raises nearly 3.5 bn yuan in targeted share issuance

Shanghai Aiko Solar Energy Co., Ltd. has completed its targeted share issuance, placing 290,939,318 new A-shares at a price of 12.03 yuan per share. This issuance raised a total of 3,499,999,995.54 yuan, with net proceeds of 3,458,238,323.39 yuan after deducting issuance expenses of 41,761,672.15 yuan. The new shares are restricted for six months from the issuance completion date.

The issuance was approved by the Shanghai Stock Exchange on July 4, 2025, and registered with the China Securities Regulatory Commission on July 24, 2025 (CSRC Approval No. [2025]1549). Following this, the company's total share capital increased to 2,117,249,923 shares. This transaction impacts the ownership percentages of key shareholders, with controlling shareholder Chen Gang's stake, including his concerted parties, decreasing from 31.29% to 26.99%.

The funds are intended to be primarily invested in the Yiwu Phase VI 15GW High-Efficiency Crystalline Silicon Solar Cell Project, with 300,000,000 yuan allocated, and 50,000,000 yuan for supplementary working capital. The company's main business involves the research, development, manufacturing, and sale of high-efficiency solar cells, with ABC battery technology at its core.