Hong Kong, China, 11 February 2015 - United Photovoltaics Group Limited (“United PV” or the “Company”, with its subsidiaries, collectively “The Group”, stock code: 00686.HK, whose largest shareholder is China Merchants New Energy Group “CMNE”), a leading solar power plant investor and operator in China, is pleased to announce today that, based on a preliminary review on the management accounts of the Group for the 12 months ended 31 December 2014, the Company is expected to record a significant growth in the annual results, turning profit from loss successfully. It is mainly attributable to the increase in the electricity generation volume and the gains from revaluation of certain derivative financial instruments.

Mr. Zhenwei LU, Managing Director of China Merchants Capital and Executive Director of United PV, said: “With the concerted efforts of the management team and all the staff members, we are excited about the encouraging results achieved in 2014. The successful turnaround from loss to profit represents the Company is stepping into another stage of rapid growth. In the future, we will stick to our robust business model, refined risk control mechanism and innovative business philosophy, accelerating the acquisitions of quality solar power plants. With a national focus and echoing the national strategy of ‘One Belt and One Road’, we will acquire high quality power plants in major energy districts, linking up the Company’s power plants to connect the east and the west, the south and the north as well. As a policy-driven sunrise industry with low risk and stable returns, the solar power plant business is welcomed by the market. It is highly capital intensive, and therefore the enterprises have to rely on the supports of strong shareholders. Leveraging the resources from CMNE, sister companies under China Merchants Group and other important overseas shareholders and favored by industry policies, we believe we will achieve a more remarkable result in 2015.”