(Yicai Global) April 29 -- Shares of Xinte Energy and its controlling shareholder TBEA surged after the Chinese polysilicon supplier received a nearly CNY25 billion (USD3.86 billion) order from a unit of Ja Solar.

Xinte's stock price [HKG: 1799] climbed as much as 5.1 percent to HKD22.65 (USD2.90) intraday today. TBEA’s shares [SHA:600089] soared 5.8 percent to hit today's peak of CNY12.85 (USD2).

But the buyer wasn't as lucky. Ja Solar's equity price [SHE:002459] dropped as much as 8.4 percent intraday.

Ja Solar's subsidiary penned an agreement to secure raw materials for its new solar cell module production lines, the Beijing-based firm said in a statement yesterday.

Xinte's products will be delivered between 2022 and 2026 while the exact prices will be determined on a monthly basis, the Urumqi-based seller said in its own statement yesterday.

The buyer has been one of those quick to secure raw materials amid the domestic boom of new solar power plants. A week ago, Ja Solar penned a five-year agreement with Qinghai-based Asia Silicon to purchase about 75,000 tons of polysilicon.

Ja Solar's module production capacity will exceed 40 gigawatts by December, and silicon wafers and cells should make up about 80 percent of the total, per yesterday's announcement.

Xinte has also been expanding. Last March, the firm said it will invest CNY8.8 billion (USD1.36 billion) to build a new high-purity polysilicon production line in Inner Mongolia. First, the designated output will be 100,000 tons but it might later be raised to 200,000 tons.

Moreover, Xinte said in mid-April it would invest CNY1.3 billion to increase the annual polysilicon production capacity of its existing plants to 100,000 tons from the current 66,000 tons via equipment upgrades.

Editor: Emmi Laine, Xiao Yi