China's Haitian Water Jumps By Limit After Deepening Solar Cell Ties With Tongwei
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Shares of Haitian Water Group surged by the daily limit after announcing an upgraded partnership with Tongwei Solar, the leading solar cell manufacturer. The stock closed 10% higher at CNY10.13 (USD1.47). Tongwei will prioritize purchasing silver paste from Haitian Water until 2030, while Haitian Water will enhance pricing and service. This partnership follows Haitian Water's acquisition of Heraeus' PV silver paste business for CNY502 million (USD73 million). The companies plan to co-develop new paste products for advanced solar cells, marking a significant expansion for Haitian Water in the photovoltaic materials sector.
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