Chinese PV product manufacturer DMEGC announced on December 23 last year that it has decided to form a joint venture and invest in a production base for high-efficiency PV module. The annual production capacity of the base is set at 2GW. This proposal was approved at the 10th meeting of the eighth session of the board of directors held on December 18 last year. The total investment in this project is estimated to reach around RMB 100 million, of which RMB 25 million will be related to fixed assets. This story was first reported by the Shanghai Securities Journal.

DMEGC stated that the new module production base aligns with the company’s own strategy over the long run. As the additional production capacity is gradually activated, the company is expected to see cost reductions, increasing competitiveness, and a higher level of profitability.

After completion, the production base is projected to raise annual sales by around RMB 2.39921 billion and generate an annual profit of RMB 57.92 million. It is worth noting that the details of this particular story vary in the respective coverage of different Chinese news outlets. The Shanghai Securities Journal and a several Chinese news websites have reported that the production lines of the base have already been set up and will soon enter operation.