(Yicai Global) June 27 -- Shares in Changzhou Almaden surged by the exchange-imposed trading limit today after the Chinese manufacturer of large-size and ultra-thin photovoltaic glass said solar module giant Trina Solar has placed a long-term order worth CNY7.4 billion (USD1.1 billion).

Almaden’s share price [SHE:002623] closed up 10 percent at CNY36.78 (USD5.50). The stock has more than doubled since the end of April due to strong growth in the sector.

Almaden will supply Trina Solar with 337.5 million square meters of its new 1.6 millimeter ultra-thin photovoltaic glass from this month to December 2025, Changzhou, eastern Jiangsu province-based Almaden said yesterday.

Although the purchase price will be negotiated by the two parties, based on the current market price for two-millimeter PV glass on commodity market research platform SCI99, the pre-tax value of the contract comes to CNY7.4 billion, it said. This is more than four-and-a-half times the firm’s revenue last year.

Trina Solar, also located in Changzhou, is a returning client. In November 2020, it ordered 85 million square meters worth of PV glass in a deal worth CNY2.1 billion (USD314 million) in a two-year deal. This time, the order quantity has nearly quadrupled, indicating that business is booming at the solar panel manufacturer and that Almaden’s products continue to become thinner and lighter, in step with evolving demand.

The deal will be a big boost to Almaden’s performance and help promote its new 1.6 mm ultra-thin PV glass on the market, it said.

Editor: Kim Taylor