On May 12, Deli announced that Bengbu Deli Solar Energy, a wholly-owned subsidiary, and 10 subsidiaries of Longji Green Energy had cancelled the Long-term Purchase Agreement for Photovoltaic Glass of about 5.531 billion yuan signed in 2021.
The reason is that Bengbu Solar Energy Production Line has been put into operation since April 2024, but due to the imbalance between supply and demand in the photovoltaic industry, the continuous downward trend of glass prices, and the inversion of price and cost, the company suffered a large loss in that year, and stopped production in January 2025, the original contract was not actually fulfilled, and the two parties were not responsible for the termination through friendly negotiation.
It is reported that in 2021, Bengbu Solar Energy signed a long-term agreement with 10 wholly-owned subsidiaries of Longji Green Energy, stipulating that the amount of photovoltaic glass cooperation between 2022 and 2026 will not be less than 250 million square meters, with a total contract value of about 5.531 billion yuan.
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