IDG Energy Investment (00650) will set up a production base with a registered capital of US$30 million to build a production line for solar cells and semiconductor cleaning equipment_ Oriental Fortune Net

　　 IDG Energy Investments(00650) announced that on February 4, 2022, Valuevale Investment Limited, a wholly-owned subsidiary of the company, entered into an investment agreement and relevant supplementary agreements with the Management Committee of Xuzhou High-tech Industrial Development Zone.semiconductorand pansemiconductorR&D and manufacturing projects of wet cleaning equipment.

According to the investment agreement, the company will establish a foreign-invested project company with a registered capital of US$30 million within two months after the signing of the investment agreement to engage insolar energyBatteryandsemiconductorConstruction of cleaning equipment production line. To support the development of the project, Xuzhou High-tech Zone will provide the production base with a selected site with a usable area of ​​approximately 21,600 square meters, as well as other financial support and convenience in terms of finance, leasing, research and development, and housing for employees of the production base. The production line is expected to start production in the first half of 2022.

　　announcementThe company intends to gradually expand its presence in advanced manufacturing – semiconductor andsolar energyInvestments in industries whose business models are primarily focused on delivering high-productivity technologies and solutions.In the opinion of the Directors, the entering into of the Investment Agreement serves as the Company’s further investment in advanced manufacturing (semiconductor andsolar energy), which enables the company to expand its business and promote new business development.

(Article source: Zhitong Financial Network)

Article source: Zhitong Financial Network

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Original title: IDG Energy Investment (00650) will establish a production base with a registered capital of 30 million US dollars to build a production line for solar cells and semiconductor cleaning equipment