Huadong Heavy Machinery: Plans to terminate the construction of the 10GW annual production of N-type high-efficiency solar cell project in Bozhou

Huadong Heavy Machinery announced on August 5 that due to the overall severe and continued decline in prices in the photovoltaic industry chain and the continued low prices of Battery cells, continued investment will not achieve the commercial purpose when the contract was signed. The company decided to terminate the investment in the construction of the Bozhou 10GW N-type high-efficiency solar cell production base project and cancel the project company Huadong Light Technology (Bozhou) Co., Ltd. After consultation between the company and the Management Committee of Bozhou Wuhu Modern Industrial Park, the Management Committee of Bozhou Wuhu Modern Industrial Park agreed to terminate the "Investment Contract" signed on July 5, 2023.