Wuxi DK Electronic Materials Co., Ltd. (DKEM) acquires a 60% interest in Solamet. The supplier of the Chinese Silver Pasta says it wants to absorb the patented solar power technology and the global customer base of Solamet in the midst of the mounting margin.
PV Silver Paste manufacturer DKEM has unveiled plans to acquire a 60% share interest in the China-based competitor Solamet Electronic Materials for CNY 696 million ($ 96.6 million) in cash. As soon as the transaction is closed, Solamet becomes a subsidiary of majority of Dkem, which marks a strategic expansion of DKEM’s technological and commercial footprint.
Solamet Electronic Materials acquired the Solamet PV -metallization pasta in July 2021 from Dupont, which had more than 40 years of expertise in electronic conductive pastas. The company is generally recognized as a pioneer in PV -metallization materials, with advanced possibilities in glass fries, silver powder and organic systems, supported by a global patent portfolio.
Its products, including front-side and rear-side silver pastes, are used across a range of solar cell technologies, including passivated back surface field (p-BSF), passivated emitter and rear cell (PERC), n-type passivated emitter rear totally diffused (n-PERT), tunnel oxide passivated Contact (Topcon), Interdigitated Back Contact (IBC), Heterojunction Technology (HJT), and Dunne film cells. The customer roster includes important manufacturers such as Jinkosolar, Longi and JA Solar.
Solamet registered the turnover of CNY 1.26 billion in 2023, with a net loss of CNY 12.6 million. It returned to profit in 2024 and reported 3.55 billion in income and CNY 50.9 million in net income, while the total assets rose from CNY 1.60 billion to CNY 2.44 billion. The debt level also rose, from CNY 530 million to CNY 1.79 billion.
Solamet contains 229 active patents worldwide and anchores its leading position in PV -Pasta technology. The PB-T-O GLASS Frit formulation supports silver pastas that are used in P-Type BSF, PERC and Mainstream N-Type Topcon cells. In 2023 it became the first company that Mass production with laser carrier injection for Topcon, a development that significantly increased the competitiveness of the cell.
The company also develops silver vergecoate copper pasta for HJT and HBC cells, ultra-run temperature curing pastas for perovskiet-silicon tandems and maintains an active R&D pipeline in basic metal pastas.
Although DKEM is a leading Chinese supplier of PV Silver Past and a strong player in the Topcon segment, it still remains in patent strength and advanced technological reserves. With the acquisition, DKEM Solamet’s IP portfolio, R&D options and global brand recognition can integrate, strengthen the technical basis and positioning in the value chain of solar energy.
The deal comes when DKEM is confronted with profitability pressure. In the first quarter of 2025, the company reported CNY 4.06 billion in income, an increase of 11.3% years after year. However, the net profit that was attributed to shareholders fell by 80.3%and the gross margins fell from 10.65%to 6.94%. The company said that it is expected of synergies from the acquisition to restore profitability and to support the global expansion.
By absorbing the old expertise of Solamet and the tires of the global market, Dkem gambles on a vertical integrated, IP-rich model to navigate rising cost pressure and to sharpen the margins in the solar production sector.
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