EGING PV(SH:600537) Mei Ri Jing Ji Xin Wen·2025-12-28 22:47Core Viewpoint - Yichin Photovoltaic has faced a potential breach of contract due to delays in the construction of its photovoltaic project in Chuzhou, leading to a notice from the local government to revoke investment agreements and recover 140 million yuan [1][2]. Group 1: Project Status and Financial Implications - The photovoltaic project in Chuzhou, which includes a planned annual production of 10GW of solar cells, 10GW of solar wafers, and 10GW of solar modules, has not progressed as per the agreement, with only 7.5GW of the solar cell capacity completed [2]. - The local government has decided to pursue the recovery of 140 million yuan in paid-in capital from Yichin Photovoltaic due to the company's failure to fulfill its contractual obligations [2]. - The project was initially expected to have a total investment exceeding 10 billion yuan, with the first phase alone estimated at around 5 billion yuan [4]. Group 2: Government Support and Commitments - The local government had previously committed to various incentives and support for the project, including the establishment of a project task force to facilitate approvals and construction [4]. - The government promised to provide additional land and benefits for future manufacturing projects by Yichin Photovoltaic, contingent upon timely investment and production commencement [5]. - The agreements stipulated that any changes to the project company’s registered address or tax allocations would require written consent from the government [6]. Group 3: Company Response and Future Actions - Yichin Photovoltaic has filed for a hearing to contest the government's decision and aims to protect the rights of the company and its shareholders [3]. - The outcome of the hearing process remains uncertain, indicating potential future developments in the company's legal and operational status [3].