JINERGY Reformed Its PV Business Mode and Obtained the First Round of Credit Granting of Tongguan Lease for Module Financing
Chinese Premier LI Keqiang pointed recently at the executive meeting of the State Council that to speed up the development of financial lease was an important initiative to deepen the financial reform and help overcome the difficulties in financing, resolve the high cost issues, promote enterprises to make investment in equipment and push the industrial upgrading. For the PV industry that has a big demand for financing, a flexible financial lease mode is one of the important solutions to the promotion of industrial upgrading.
In order to answer the call of the state, Jinneng Clean Energy Technology Limited (hereinafter referred to as “JINERGY”), the No.1 PV module brand of Shanxi, announced that it had officially reached the “Financing Cooperation Agreement for PV Modules” with Tongguan Lease (Shanghai) Co., Ltd. (hereinafter referred to as “Tongguan Lease”) on September 23rd, signifying that JINERGY had reformed its PV business mode, offered diversified financing services for customers and resolved part of its financing issues through cooperation with lease company.
According to the cooperation agreement of both sides, Tongguan Lease will offer a line of credit of RMB 250,000,000 Yuan to JINERGY and the credit will be used to offer financial lease services for the customers who have purchased JINERGY’s PV modules (i.e. lessees). And at the same time, Tongguan Lease will also provide JINERGY and its major raw material suppliers with factoring and other services.
“It’s our pleasure to reach an agreement with Tongguan Lease and start a brand-new business mode for PV module sales. Through Tongguan Lease’s strict and prudent due diligence, we’ve succeeded in obtaining a line of credit of RMB 250,000,000 Yuan, which opens a totally-new direction for our future business mode and enables us to offer more diversified financing services for our customers”, said YANG Liyou, the GM of JINERGY.
It is learnt that the first round of credit granting to JINERGY was also the first-phase cooperation of both sides. In future, the line of credit is expected to grow as the business expands.
“At present, the company is taking active measures to expand business channels, increase the investment and financing cooperation within the industry and offer a full range of financial services including financing, counseling and sales promotion. We plan to expand our business to such fields as mine building, new energy, governmental financing, large logistics and energy conservation& environmental protection within 3 years. JINERGY is a PV manufacturer with strong sense of social responsibility, spirit of innovation and high-quality products. We hope we could further deepen our cooperation in the coming years”, said WANG Jiping, the GM of Tongguan Lease.
It is learnt that Tongguan Lease is a Sino-foreign financial lease company jointly set up by Shanghai Investment and Trade Co., Ltd. of Tongling Nonferrous Metals Group and Hong Kong Tongli Trade Development Co., Ltd. and its business involves financial lease, lease service, purchase of leased assets at home and abroad, disposal of leased asset residual value and maintenance, lease transactions, counseling and guarantee, factoring services related to its major business and others.
