Yijing Optoelectronics announced that the company recently received a hearing notice from the Quanjiao Economic Development Zone Management Committee to make administrative decisions against the company and its subsidiaries Changzhou Yijing and Chuzhou Yijing. The company has applied for a hearing, and no hearing process has yet been carried out. The company originally intended to invest in the construction of a project with an annual output of 10GW photovoltaic cells, 10GW photovoltaic slices and 10GW photovoltaic modules in Quanjiao County, Chuzhou City, Anhui Province. The holding subsidiary Changzhou Yijing and the Quanjiao County Platform Company Quanjiao County Jiachen New Materials Industry Investment Fund Management Center jointly set up the project company Chuzhou Yijing. The company's Chuzhou project began construction in November 2022, and production began in July 2023. Due to the phased structural capacity mismatch in the photovoltaic industry in recent years, the market is weak, and the production capacity operating rate of the entire industry continues to decline. The company's Chuzhou project only completed the implementation of 7.5 GW of production capacity in the first phase of the photovoltaic cell project, and the remaining battery production capacity and phase II and Phase II PV module projects have not been built. Meanwhile, due to industry and market influence, the company began to stop production at its Chuzhou base in October 2024. In view of the above, the Quanjiao County Economic Development Zone Management Committee believes that the company has failed to fully implement the relevant agreements in the previous period, so it issued a hearing notice to the company to cancel the investment agreement and supplementary agreement, recover 140 million yuan of investment, stop fulfilling later investment obligations, and pursue the company's liability for breach of contract for repayment of construction expenses, rent and capital occupation costs.

Yijing Optoelectronics announced that the company recently received a hearing notice from the Quanjiao Economic Development Zone Management Committee to make administrative decisions against the company and its subsidiaries Changzhou Yijing and Chuzhou Yijing. The company has applied for a hearing, and no hearing process has yet been carried out. The company originally intended to invest in the construction of a project with an annual output of 10GW photovoltaic cells, 10GW photovoltaic slices and 10GW photovoltaic modules in Quanjiao County, Chuzhou City, Anhui Province. The holding subsidiary Changzhou Yijing and the Quanjiao County Platform Company Quanjiao County Jiachen New Materials Industry Investment Fund Management Center jointly set up the project company Chuzhou Yijing. The company's Chuzhou project began construction in November 2022, and production began in July 2023. Due to the phased structural capacity mismatch in the photovoltaic industry in recent years, the market is weak, and the production capacity operating rate of the entire industry continues to decline. The company's Chuzhou project only completed the implementation of 7.5 GW of production capacity in the first phase of the photovoltaic cell project, and the remaining battery production capacity and phase II and Phase II PV module projects have not been built. Meanwhile, due to industry and market influence, the company began to stop production at its Chuzhou base in October 2024. In view of the above, the Quanjiao County Economic Development Zone Management Committee believes that the company has failed to fully implement the relevant agreements in the previous period, so it issued a hearing notice to the company to cancel the investment agreement and supplementary agreement, recover 140 million yuan of investment, stop fulfilling later investment obligations, and pursue the company's liability for breach of contract for repayment of construction expenses, rent and capital occupation costs.