Polaris solar PV net news: Jiawei shares the 11th night released details of changes in equity report, Zhen FA Energy Group Ltd after the huayuan new energy and became the second shareholder of the company. Thus, Jiawei shares will be entering the PV power plant EPC with bright market prospects and investment operations, optimizing product mix and enhance the company’s ability to resist risks, in addition to the continued viability and profitability of the company will be further enhanced, and expand overseas solar markets, enhance the overall competitiveness of listed companies.
On August 21, 2014, the listed company and Hao Xuan Zhen FA energy, investments, signed the agreement to issue shares and to pay cash to buy assets, on December 10, 2014, the listed company and Hao Xuan Zhen FA energy, investments, signed the agreement to issue shares and to pay cash to buy assets of the additional agreement. Through this transaction, huayuan new energy listed companies will become wholly-owned subsidiaries, Zhen FA energy will own 83,032,490 shares of Jiawei shares, Jiawei shares total share capital of 28.24%. Huayuan new energy PV power plant EPC business growing rapidly with good profitability and total 200MW photovoltaic power plant, has achieved part of grid-connected power generation. That business can bring Jiawei shares of stable and sustainable cash flows.
Before the transaction, Jiawei shares also posted in conditions under the premise of 50MW solar power station. Through this transaction, Jiawei shares that have photovoltaic power plant EPC business qualifications, expertise, operating experience and companies operating photovoltaic power plant investment, work with the listed company’s PV industry technology and experience accumulated over the years, the company will enter the PV business areas, to speed up the realization of “photovoltaic, PV + lighting, lighting” go hand in hand with the collaborative development of business strategy.
To support development of Jiawei shares, zhenfa energy and the actual control Cha Zhengfa have been issued commitments will be phased out within a year with the exception of its own and its affiliates control PV photovoltaic power plant EPC business other than a year directly or indirectly engaged in, inter alia, would not of itself and its affiliates control PV photovoltaic power plant EPC other than business. Meanwhile, on its own and its affiliates under the control of PV power, Jiawei shares and its subsidiaries (including huayuan new energy) supports EPC business to undertake such projects.
Original title: Jiawei shares acquisition of layout of huayuan new energy PV power plant EPC business