Coloray invests in Southeast Asia's largest solar energy company... "Promoting ESG development"

On the 19th, KOSDAQ-listed company Coloray announced that it has invested in SOLAR LONG Holdings, the largest solar cell and component manufacturer in Southeast Asia.

Coloray Chairman Zhu Zhongbiao stated, “This investment not only establishes a solid foundation for the company to enter the new energy industry but also aligns with Coloray’s emphasized ESG principles of being eco-friendly, green, and sustainable. The SOLAR LONG Group aims to go public in the U.S. market next year, and if the listing is successful, it is expected to bring good investment returns to Coloray.”

SOLAR LONG Holdings is headquartered in Hong Kong, and its wholly owned subsidiary, SOLAR LONG PV Technology (Cambodia) Co., Ltd., is currently the largest solar energy company and one of the biggest exporters in Cambodia.

SOLAR LONG PV Technology currently operates an advanced production line with 4GW of solar energy components and 2GW of solar cells. The company’s production base covers more than 200,000 square meters, and it employs approximately 1,700 staff. Last year, total revenue reached about $450 million, with a net profit of approximately $50 million.

The crystalline silicon solar cells produced by the company are mainly sold to the U.S., India, Brazil, Turkey, Pakistan, the Middle East, and South Africa. Major customers include globally renowned companies such as BYD, Tata, and Premier Energies. In addition to its production base in Cambodia, the SOLAR LONG Group is currently expanding new production bases in Indonesia, the United Arab Emirates, India, and the U.S. to meet the diversified global demand for solar products.

In response to climate change, countries around the world are emphasizing sustainable development and strongly supporting the green, low-carbon transition of energy. Against the backdrop of global carbon neutrality, many countries regard the development of renewable energy, including solar energy, as an important component of the carbon neutrality pathway. In 2023, global demand for the solar market continued to remain strong.

Since its establishment, Coloray has practiced the corporate sustainable development philosophy of nature, environmental protection, and energy saving. Coloray’s global clients such as P&G, KOBO, Est?e Lauder, L’Or?al, and Shiseido are also expanding energy saving, emission reduction, and clean energy purchasing as part of their corporate ESG initiatives.

A Coloray representative added, “Going forward, we will expand investments in the new energy sector to build new revenue streams for the company while taking practical measures to fulfill the social responsibilities and commitments of a low-carbon and eco-friendly enterprise.”