Hunan Huamin Holdings Co. (SZ：300345), a leading manufacturer and distributor of wear-resistant cast products, announced on 8 October 2023 that its holding subsidiary, Honsun (Yunnan), has signed a polysilicon supply contract and a monocrystalline silicon wafer supply contract with Tongwei and its subsidiaries with a total value of 9.6 billion yuan.

According to the announcement, five subsidiaries of Tongwei Group will supply 56,800 tonnes of polysilicon material to Huamin and Honsun from the effective date of the contract until 31 December 2026, with an estimated contract value of 5.1 billion yuan.

Meanwhile, Tongwei will purchase 1.52 billion pieces of monocrystalline wafers from Honsun from the effective date of the contract until 31 December 2026, with an approximate value of 4.5 billion yuan.

The new long-term partnership is expected to secure material supply and promote win-win cooperation between Tongwei and Huamin. It is also positive for Huamin’s renewable business development plan, enhancing its competitiveness in the market and increasing its profitability and influence.

（Picture: Veer）