Baoding Great Wall Holding Group Co., Ltd. entered into a strategic agreement with Xishan Economic and Technological Development Zone on August 16. According to the agreement, Wuxi UtmoLight technology Co., Ltd., will build its headquarter and perovskite innovation industrial base project in Xishan Economic and Technological Development Zone, and HYCET Technology Co., Ltd. will build its third-generation semiconductor module testing manufacturing base project in the development zone, with a total planned investment of RMB3.8 billion (USD561 million). UtmoLight's proposed perovskite project will include construction of the world's first GW-level perovskite PV module and BIPV production line, with an estimated annual production value of RMB2.5 billion (USD369 million).