ACHT(SH:600207) Shang Hai Zheng Quan Bao·2025-12-02 18:07Investment Overview - The company plans to upgrade the 900t/d photovoltaic glass production line of its wholly-owned subsidiary, Henan AnCai Photovoltaic New Materials Co., Ltd. [2][4] - The total investment for the upgrade project is estimated at RMB 498.26 million [3][13]. Board Meeting and Approval - The company's board of directors approved the upgrade project with a unanimous vote of 8 in favor, 0 against, and 0 abstentions during the meeting held on December 2, 2025 [5][39]. - This investment does not constitute a major asset restructuring as defined by relevant regulations [6]. Project Background and Necessity - The photovoltaic glass industry has faced significant supply-demand mismatches, leading to a sharp decline in product prices and widespread losses among companies [9]. - The upgrade aims to enhance energy and economic efficiency, increase annual production capacity to 100.57 million square meters, and improve market competitiveness [9][10]. Project Details - The upgrade will involve modernizing the existing glass furnace and associated production lines and auxiliary equipment [10]. - The project is located in the original factory area of the advanced manufacturing development zone in Anyang, Henan Province, with an expected construction period of 12 months [11][12]. Financial Impact - The project is expected to increase the company's asset-liability ratio in the short term but will positively impact future financial performance and operational results [16]. - The investment is anticipated to enhance the subsidiary's technological level and automation, thereby improving profitability and market competitiveness [15]. Asset Sale Overview - The company intends to sell its idle precious metal rhodium powder through a public listing to enhance asset operation quality and support its main business development [22][26]. - The sale does not involve related transactions or constitute a major asset restructuring [23][28]. Asset Details - The rhodium powder has a net weight of 56,835.5 grams and is legally owned by the company without any encumbrances [30]. - The estimated market value of the rhodium powder is RMB 113.73 million based on a recent market assessment [32]. Board Meeting for Asset Sale - The board approved the sale of the precious metal asset with a unanimous vote of 8 in favor, 0 against, and 0 abstentions during the meeting held on December 2, 2025 [28][39]. - The proceeds from the sale will be used to support the company's core business development [34].