On July 26, Wuxi DK Electronic Materials Co., Ltd. (“DK Materials”) released the Resolution Announcement of the 11th Meeting of the Third Board of Directors.
According to the announcement, DK Materials plans to acquire a 60% equity stake in Zhejiang Suote Materials Technology Co., Ltd. for a total consideration of RMB 696 million. Upon completion of the transaction, Zhejiang Suote will become a controlling subsidiary of DK Materials. Through this acquisition, DK Materials will gain control over the Solamet® photovoltaic silver paste business, formerly owned by the DuPont Group.
It is worth noting that Mr. Shi Weili, one of the company’s controlling shareholders and actual controllers, has voluntarily made a performance compensation commitment. He guarantees that Zhejiang Suote will achieve audited net profits of no less than RMB 68.1 million in 2025, RMB 90.8 million in 2026, and RMB 128.1 million in 2027, with a cumulative profit commitment of no less than RMB 287 million over the three-year period. If the actual net profit in any year falls short of the promised amount, Mr. Shi will compensate the listed company for the shortfall.
According to the 2024–2025 Annual Report on China’s Photovoltaic Industry published by the China Photovoltaic Industry Association, DK Materials surpassed Juhe Materials in 2024 to become the industry leader, while Zhejiang Suote climbed to fourth place.
The annual data provides a clearer picture: in 2024, DK Materials sold 2,037.69 tons of photovoltaic conductive silver paste, an 18.91% increase year-on-year. Of this, sales of conductive pastes for N-type TOPCon cells reached 1,815.53 tons, accounting for 89.10% of the company’s total PV silver paste shipments. In comparison, Juhe Materials shipped 2,024 tons of conductive paste in 2024, with 1,576 tons attributed to N-type products, representing 77.87% of its total.
Looking ahead, DK Materials stated that it will enhance R&D in core technologies and actively pursue the development of metallization solutions for HBC and perovskite/crystalline silicon tandem cells. The company also plans to roll out advanced interconnection and encapsulation material solutions for PV modules. Leveraging the platform synergy of its core technologies and product lines, DK Materials is also expanding into semiconductor packaging pastes, printed electronics pastes, and electronic component paste product lines to continuously broaden its main business.
As a key material for solar cell metal electrodes, photovoltaic conductive silver paste directly determines the upper limit of a cell's photoelectric conversion efficiency.
Solamet® is a pioneer and technology leader in the PV conductive paste industry and was the first brand globally to drive industrialization and iterative upgrades of N-type cell technologies. It holds advanced proprietary technologies across the three key systems of glass, silver powder, and organics, and maintains a comprehensive patent portfolio.
Source：https://mp.weixin.qq.com/s/y_N4svIs-GnaIgdtLqpoCQ
