Shanghai HIUV New Materials (SHA:688680) plans to make changes in its planned plant construction, according to a Thursday disclosure on the Shanghai bourse.
The Chinese high-tech film technology company will terminate the construction of a photovoltaic encapsulation film plant and will instead build a polymer dispersed cholesteric liquid crystals or PDCLC smart dimming film plant.
The photovoltaic encapsulation film plant was supposedly set to be completed in the third quarter of the year, but was cancelled due to reduced demand for photovoltaic films.
The shift was made amid growing demand for PDCLC smart dimming film, which can be used for automotive applications.
The remaining raised funds of 226 million yuan that were supposedly for the previous project will be included in the investment for the PDCLC plant, which will amount to 250 million yuan, the disclosure said.
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