GIGASOLAR Business Summary

GIGASOLAR (3691.TWO) is a premier global manufacturer of conductive pastes essential for the metallization of photovoltaic (PV) cells. The company generates revenue through the high-volume production and distribution of silver, aluminum, and silver-aluminum pastes, which serve as critical electrodes and conducting wires in silicon solar cells. Its primary business segments are categorized by product application, including front-side silver pastes for positive electrodes and back-side aluminum pastes designed to enhance conversion efficiency in advanced cell architectures such as PERC and TOPCon. GIGASOLAR operates as a dominant midstream supplier in the solar value chain, competing directly with global giants such as DuPont, Heraeus, Samsung SDI, and DK Electronic Materials (DKEM). The company maintains a competitive edge through its specialized R&D focus on "thrifting" technologies that reduce silver consumption while maintaining high electrical conductivity, positioning it as a preferred partner for tier-1 solar module manufacturers. Originally established as the Solar Energy Materials Chemical Division of GIGASTORAGE CORPORATION, GIGASOLAR was spun off as an independent entity in 2008 following breakthrough R&D led by Dr. Jerry Chen (Chen Jiren) in collaboration with Taiwan’s Industrial Technology Research Institute (ITRI). The current leadership team is anchored by Chairman Jiming Chen and General Manager (CEO) Wen-Jui Huang, both of whom have steered the company since its 2009 restructuring and subsequent 2010 TPEx listing. Huang brings over 16 years of executive experience in materials science and corporate strategy within the Taiwanese tech ecosystem. The company’s strategic direction is supported by a notable investor base, including Hon Hai Precision Industry (Foxconn), which invested $36 million in 2021 to co-develop battery materials, and institutional stakeholders such as Hyield Venture Capital and BlackRock. As of March 2026, the board remains focused on diversifying into lithium-ion battery silicon negative electrode materials to leverage its core expertise in conductive chemistry.