Solar Accessory Maker Akcome to Set Up USD34.6 Million Online Microloan Firm
Zhang Xia
DATE:  Sep 15 2017
/ SOURCE:  Yicai
Solar Accessory Maker Akcome to Set Up USD34.6 Million Online Microloan Firm Solar Accessory Maker Akcome to Set Up USD34.6 Million Online Microloan Firm

(Yicai Global) Sept. 15 -- Photovoltaic solar energy accessories firm Jiangsu Akcome Science & Technology Co. [SHE:002610] will establish an internet-based micro-finance subsidiary to provide supply chain financing services through a CNY225-million (USD34.6-million) investment, the company said in a press briefing on Sept. 14.

The firm will set up the new company in partnership with Jiangyin East-China Aluminum Technology Co. and subsidiary Jiangsu Akcome Greenhome Technology Co., with total initial registered capital projected to be USD46 million (CNY300 million).

East-China Aluminum Technology and Akcome Greenhouse Technology will chip in 20 percent and five percent of total capital, respectively.

The micro-loan company will specialize in supply chain financing businesses oriented toward small businesses, industrial proprietorships, industrial service providers and businesses related to new energy. It will help the listed company to develop product lines and boost sales, as well as nurture collaborations between its energy internet business unit and major agricultural, smart travel and environmental protection firms.

Akcome Science & Technology, a well-known global brand and one of the leading players in China's new energy industry, specializes in power operations and manufacturing of one-stop photovoltaic components. The Jiangsu local government has designated it a key provincial enterprise and provides related support.

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Keywords:   Jiangsu Akcome Science & Technology,Petty Loan,Fund,New Energy