On 2 August 2019, Panda Green (00686.HK) (the “Company”), announced that the Company entered into a non-legally binding MOU with Beijing Energy Holding Co. Ltd. (the “BEH”) for the purpose of long-term strategic cooperation of both parties, whereby Panda Green intends to allot and issue, and BEH intends to subscribe for new shares of the Company.
BEH is a state-owned company providing comprehensive energy services, together with its subsidiaries, principally engaged in electricity production and supply, thermal heat production and supply, production and sale of coal, as well as property development and real estate management. BEH is the controlling shareholder of four listed companies, namely Beijing Jingneng Clean Energy (00579.HK), Beijing Jingneng Power (600578.SH), Beijing Haohua Energy (601101.SH) and Beh-Property (600791.SH). Among them, Beijing Jingneng Clean Energy involves in gas-fired power and heat energy generation, wind power, photovoltaic power, small-to-medium-sized hydropower and other clean energy generation businesses, with total installed operating capacity of 8,670 MW .
Panda Green is a leading global eco-development solutions provider and is principally engaged In the development, investment, operation and management of solar power plants and other renewable energy projects , with installed capacity of 2,460 MW. The Company has been listed on the Main Board of Hong Kong Stock Exchange, and is currently the constituent of the Hang Seng Stock Connect Hong Kong Index (Shenzhen-Hong Kong Connect), the Hang Seng Composite Index Series, the Hang Seng Global Composite Index and the MSCI China Small Cap Index. Its high-quality power plants, streamlined O&M standards and efficient corporate governance have been acknowledged by a number of Chinese and international investors. Besides China Merchants New Energy Group Limited as its single largest shareholder, Panda Green also has other renowned substantial shareholders, such as China Huarong Asset Management Company Limited, Qingdao City Construction Investment Group, and Orix Corporation.
Panda Green has been actively looking for strategic cooperation opportunities to improve its financial and operation capabilities. Introducing strategic investors is one of the major steps in the long-run strategic development of the Company. It is anticipated that the Company would benefit from the diversified equity structure which may generate complementary synergy from various renowned shareholders, and enhance its competitive advantages and facilitate its development by leveraging the resources in capital, technology as well as development strategy.