Xinyi inks long-lasting agreement to supply solar glass to Longi

• Chinese solar glass maker Xinyi Solar Holdings Ltd (HKG:0968) introduced that it has entered into a contract to sell its items to Longi Solar Technology.

Longi Solar, an unit of photovoltaics maker Longi Green Energy Technology Co Ltd (SHA:601012), agreed to purchase the very least 35% of its forecasted annual demand of solar glass items from Xinyi, Xinyi said in a declaring with the Hong Kong stock exchange.

The contract, or the so-called solar glass sales and also purchase arrangement, will certainly enter into force on September 1, 2021 as well as run until December 31, 2024. Xinyi and also Longi Solar agreed to convene each year to discuss the possibility of expanding the contract.

The firms will enter into monthly agreements on the sales and also acquisition amount, solar glass specs and also marketing costs of the solar glass items. The market price will be established by both parties on an arm's length basis with reference to the then dominating market value of the appropriate solar glass products in individuals's Republic of China, Xinyi included.