SHUNFENG Photovoltaic (01165.HK) said that it has entered into a letter of intent with GCL-Poly Energy (03800.HK) for strategic cooperation on intended establishment a long-term strategic cooperation in the solar industry.

The term of the cooperation is 5 years from 1 January 2012 to 31 December 2016.

The scope of the intended cooperation shall include: (i) Shunfeng will purchase polysilicon and silicon wafers within the aforesaid five-year period from GCL-Poly; (ii) GCL-Poly will purchase solar cells and solar modules within the aforesaid five-year period from Shunfeng; and (iii) Shunfeng and GCL-Poly Suzhou will seek more cooperation opportunities to make joint investments in the solar industry and other industries in order to increase their respective market share and achieve capital growth.

Source:chinesestock.org