(Yicai Global) March 23 -- Shares of Shuangliang Eco-Energy System rose after the leading Chinese manufacturer of solar wafers secured a third supply deal this month, expected to be worth CNY2.6 billion (USD378 million).

Shuangliang [SHA: 600481] ended 2.3 percent higher today at CNY14.10 (USD2.07) a share.

Shuangliang's production base in Baotou in China’s Inner Mongolia Autonomous Region will provide Hefei DAH Solar with 7,800 tons of monocrystalline ingots to make large-size N-type silicon wafers from this year to 2025, the Jiangyin, Jiangsu province-based firm said late yesterday.

Silicon ingots are the bulk form of monocrystalline silicon before it is thinly sliced into wafers. N-type solar cells made from N-type silicon wafers have higher photoelectric conversion efficiency.

Jiangsu Zhongqing Advanced Battery Manufacturing and Eging Photovoltaic Technology placed a CNY861 million (USD125 million) order and a CNY2.7 billion order for 135 million and 334 million large-sized silicon wafers with Shuangliang on March 21 and March 12, respectively.

The Baotou plant has landed orders worth more than CNY95 billion (USD13.9 billion) since it began mass production in the second half of 2021.

The latest deals show that Shuangliang's large-size N-type monocrystalline silicon products have gained recognition among high-quality downstream customers, which will positively impact the firm’s sales of these products, it added.

Volumes and prices for each month will be negotiated at the end of the prior month, Shuangliang noted.

Editor: Futura Costaglione