(Yicai Global) April 17 -- Shares of Flat Glass Group and Jinko Solar rose after China's second-largest supplier of photovoltaic glass said it has received an order worth about CNY10.5 billion (USD1.5 billion) from the major solar panel maker.

Flat Glass [SHA: 601865] ended 2.9 percent higher at CNY33.10 (USD4.82) today. Its Hong Kong-listed shares [HKG: 6865] gained 3.4 percent to HKD22.70 (USD2.89). Jinko Solar [SHA: 688223] closed up 2.7 percent at CNY13.46.

Flat Glass will supply 489.5 million square meters of PV glazing to Jinko Solar and its eight units from next year to 2025, the Jiaxing-based firm said late yesterday. The Shanghai-based buyer will use the glass to produce about 77 gigawatts of PV panels, it noted.

The deal is likely to be worth around CNY10.5 billion based on current market prices, and each month's pricing will be negotiated in the prior month, Flat Glass added.

The order is the equivalent of over 68 percent of Flat Glass' operating revenue in 2022, and will help market the firm's large-size, thin-sheet PV glass, underpin stable sales of its products, and boost its business performance, the company noted.

It is Flat Glass' second major order this month, after receiving one worth about CNY8.1 billion (USD1.2 billion) on April 6, in which the firm agreed to supply 378 million sqm of PV glass to solar power plant developer and operator Astronergy New Energy Technology and its 16 units from this July to December 2025.

Editor: Martin Kadiev