Henan Hengxing to start 100MW PV project

Henan Hengxing Science & Technology Co, which mainly operates metal businesses, has announced plans to spend RMB 263 million to build a 100-megawatt photovoltaic plant in Henan Province.

(December 9, 2010) — Henan Hengxing Science & Technology Co, which mainly operates metal businesses, has announced plans to spend RMB 263 million to build a 100-megawatt photovoltaic plant in Henan Province. The company will start the project through a local subsidiary for solar cell production, according to a statement filed with the Shenzhen Stock Exchange.

The project, which will have fixed assets totaling RMB 258.68 million, will start construction next January and is expected to be completed by January 2013.

The Shenzhen-listed firm earned RMB 56.38 million in net profit and RMB 1.36 billion in operating revenue in the first three quarters of this year, and its earnings per share were RMB 0.22. Last month, the company said it intends to raise around RMB 700 million by issuing up to 35 million shares at more than RMB 23.5 apiece for a steel wire project with an annual output capacity of 15,000 tons.

Copyright 2010 China Knowledge Press Pte Ltd.

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