Environmental verification "exposure" Foster IPO plan

Following the rise of sunflowers and the East, listed companies in the photovoltaic industry in Zhejiang are expected to add new ones. Hangzhou Foster Photovoltaic Material Co., Ltd. (hereafter referred to as “Foster”), one of the world’s largest EVA film manufacturers, plans to sprint IPO, and its listed environmental protection inspection publicity will expose the specific plans of the listed companies in advance.

The information from Zhejiang Environmental Protection Agency shows that in order to further enhance the company's strength and meet the needs of market development, Foster intends to issue initial public offerings and listing on the domestic market. The main body of this application for listing is Foster and its wholly-owned subsidiary Suzhou Foster. Since Suzhou Foster should issue opinions from Jiangsu Environmental Protection Department, the focus of this environmental verification is Foster’s existing two Factory area. Upon verification, the two plant sites have been approved by the EIA. The company is basically in compliance with the environmental protection verification requirements of listed companies, and the publicity period is from August 10 to 19.

The verification report shows that Foster intends to raise funds for the construction of three projects, of which RMB 54.793 million will be used to invest in an “annual solar cell back sheet project with an annual output of 2 million square meters” and 16.04 million yuan for the construction of “photovoltaic material research and development”. The center project, "106 million yuan," is used to expand "an annual output of 180 million square meters of EVA solar cell film project." It is reported that EVA solar cell film is used for the encapsulation of solar cell modules and is an indispensable component in the solar photovoltaic production process. It can increase the power generation efficiency of solar cell modules and ensure the service life of solar panels. Foster specializes in solar cell film manufacturing and is currently one of the world's largest EVA film manufacturers.

According to the data, Foster achieved sales revenue of 1.619 billion yuan, profit tax of 720 million yuan, and self-export of 101 million yuan in 2010. From January to June this year, it achieved sales revenue of 1.018 billion yuan, a year-on-year increase of 66.5%. Foster, which focuses on the market segments of the photovoltaic industry, quickly became a big player in the industry. As of 2010, its product's domestic market share has exceeded 50%, and its international market share has also reached 25%. It is worth noting that Foster has established in-depth cooperation with a number of "first-line" PV companies, including overseas-listed Suntech, Tianwei Yingli, Changzhou Tianhe and Xinsanban Zhonghaiyang.

According to the data, Foster was formerly known as Hangzhou Foster Hot Melt Film Co., Ltd., which was established in May 2003 and officially changed its name on January 1, 2010. The registered capital of the company is 342 million yuan. It mainly produces and sells EVA solar film, solar battery back sheet and hot melt film. The company has won the title of “Large Enterprise Group”, “Top Ten Merit Enterprise”, “High-tech Enterprise in Zhejiang Province” and “Key High-tech Enterprise of National Torch Plan” in Lin'an City.