On May 18, Otway issued a notice on the non-performance of subsidiary contracts. According to the announcement
, In September 2024, Wuxi Otway Supply Chain Management Co., Ltd., a wholly-owned subsidiary of Wuxi Otway Supply Chain Management Co., Ltd., signed a sales contract of about 400 million yuan (including tax) for single crystal furnaces and supporting equipment with an internationally renowned photovoltaic enterprise . However, due to major changes in the local policies and market environment of the country where the customer is located, the conditions for the effectiveness of the contract (the customer determines the FID, issues the notice of commencement and pays the down payment) have not been reached, and the contract is no longer performed.
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