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Founded Year

2002

Stage

Acquired | Acquired

Valuation

$0000 

About Zhonghuan

Zhonghuan is a large-scale enterprise group authorized by the Tianjin Municipal Government to operate state-owned assets. It currently owns more than 250 state-owned wholly-owned, state-controlled and share-holding enterprises. The company is mainly engaged in the research and development, and production of military and civilian communications, broadcast audio and video, semiconductor devices and materials, basic electronic products, instruments and meters.On July 15th, 2020, Zhonghuan was acquired by TCL at a valuation of $1570.43M.

Zhonghuan Headquarter Location

Tianjin,

China

Latest Zhonghuan News

Zhonghuan Gains as Unit Inks USD793.4 Million Silicon Supply Deal With China’s Shangji

May 19, 2021

(Yicai Global) May 19 -- Shares in Tianjin Zhonghuan Semiconductor advanced 2.9 percent today after its unit signed a polycrystalline silicon supply deal worth CNY5.1 billion (USD793.4 million) with Chinese photovoltaic equipment maker Wuxi Shangji Automation. Tianjin Zhonghuan [SHE:002129] ended the day at CNY28.05 (USD4.35). Shangji’s stock price [SHA:603185] climbed 1.79 percent to close at CNY143.70 (USD22.32). Xinjiang Xiexin New Energy Materials Technology will supply an estimated 31,000 tons of polycrystalline silicon, a raw material used in solar cells, to Shangji and its affiliate Hongyuan New Materials over the next two and a half years, Shangji said yesterday. The contract value is based on current market prices. The unit selling price will be determined at the end of each month for the following month, the Wuxi, eastern Jiangsu province-based company added. Shangji has signed CNY15 billion (USD2.3 billion) worth of silicon procurement contracts since December last year to ensure sufficient supply as demand for PV power stations soars. GCL-Poly Energy Holdings, another major shareholder in Xiexin, is teaming up with Shangji to build a CNY18 billion (USD2.8 billion) granular silicon production plant in Inner Mongolia, the Hong Kong-based firm said in March. Once completed, it will produce 300,000 tons of silicon materials a year. Trading of GCL-Poly’s shares on the Hong Kong stock exchange was halted last month after the firm failed to submit a 2020 earnings report. Editor: Kim Taylor

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