From green "intelligent" pioneer manufacturing to Fortune Global
How was the Fortune Global 500''s first photovoltaic company created? Looking back at TW(Tongwei) Tongwei : Acquisition of 51% Stake in Runyang Still in Progress;
Intelligent manufacturing and accelerated gloChinasation: Inside Tongwei
In 2013, Tongwei acquired the world''s largest single solar cell facility in Hefei, China for RMB 870 million (US$125.3 million) and established Tongwei Solar (Hefei) Co., Ltd.
Tongwei to acquire Runergy – pv magazine Australia
Vertically integrated solar manufacturer Tongwei has signed a "capital increase intention agreement" with fellow China-based module producer Runergy, its major shareholders, and Chinese state-owned investment
Tongwei''s bold move to acquire Runergy: The start of a
In a sector already fraught with challenges, Chinese solar giant Tongwei''s announcement to acquire a controlling stake in Runergy New Energy—another major player in the industry—could signal more than just a
Chinese PV Industry Brief: Tongwei starts due diligence on bid for
6 天之前· Tongwei has initiated due diligence on its CNY 5 billion ($691.8 million) bid to acquire Chinese solar maker Runergy, aiming to secure at least 51% of its equity. The deal, which
6 FAQs about [Tongwei acquires energy storage company]
Will Tongwei buy runergy?
BEIJING, Aug 14 (Reuters) - Solar company Tongwei (600438.SS) is planning to buy a controlling stake in competitor Runergy for about 5 billion yuan ($697.78 million) in a move that would allow the Chinese company to gain presence in the United States.
Will Tongwei buy a rival solar company?
Ad Choices Help©2024Bloomberg L.P. All Rights Reserved. Tongwei Co., one of China’s largest solar manufacturers, plans to acquire at least 51% of a smaller rival, as consolidation accelerates in an industry grappling with oversupply and losses.
Why did Tongwei buy LDK Solar?
Tongwei’s approach of acquiring solar assets during downturns and expanding against the trend isn’t new. Back in 2013, amid China’s solar industry crisis following the European Union’s imposition of anti-dumping and anti-subsidy measures, Tongwei made a bold move by acquiring LDK Solar for RMB 870 million (USD 122 million).
What is Tongwei's valuation for runergy?
In comparison, Tongwei’s valuation for Runergy is notably higher. An industry insider told 36Kr that, as of March 2023, Runergy’s net assets were valued at RMB 5.64 billion (USD 791.1 million). Tongwei’s offer of up to RMB 5 billion for a 51% stake corresponds to a PB ratio of approximately 0.9.
Is Tongwei China's fifth-largest solar shipper?
Tongwei was the fifth-largest Chinese shipper of solar modules during the January-June period, InfoLink Consulting said. Tongwei reported a net loss between 2.2 billion yuan and 2.5 billion yuan in the second quarter, according to the company's preview of its first-half results.
What is a 'capital increase intention' agreement between Tongwei & runergy?
Tongwei, a vertically integrated solar manufacturer in China, has signed a “capital increase intention agreement” with China-based module producer Runergy, its major shareholders, and Chinese state-owned investment management company Jiangsu Yueda Group. The deal outlines a multi-step acquisition process.