Hong Kong, China, 10 February 2015 - United Photovoltaics Group Limited (“United PV” or the “Company”, 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, all conditions precedent as stipulated in the CM Subscription Agreement with CMNE,  Magicgrand Group Limited and Zhongli Subscription Agreement with Zhongli New Energy (Hong Kong) Investment Limited (“Zhongli”) have been fulfilled, and both subscriptions have been completed today. These subscriptions increased the shareholding of CMNE and parties acting in concert with it in United PV to 24.09%.

CMNE’s stake increase in United PV signifies the largest shareholder’s confidence in United PV’s investment potential, business prospects and general performance, thus reinforcing CMNE’s potential ability to become a professional platform of China Merchants’ solar energy business. Looking forward, leveraging on the advantages in financial resources and network of strategic partners of China Merchants and its subsidiaries, United PV will strive to become a leading solar energy enterprise to bring mankind step into the new energy era.