Hong Kong, China, 5 June 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 photovoltaic power plant investor and operator in China, is pleased to announce that, Guodian Tuoketuo County Solar Power Company Limited (“Guodian Tuoketuo”), a subsidiary of the Company, and China Kang Fu International Financial Leasing Company Limited (“China Kang Fu”) entered into a finance lease agreement, pursuant to which China Kang Fu will provide United PV with finance lease of RMB300 million, at an interest rate of 6.215%

Guodian Tuoketuo, a subsidiary of the Company located in Tuoketuo County, Inner Mongolia, China, owns a solar power plant and related facilities with an installed capacity of 40MW. Pursuant to the agreement, China Kang Fu will purchase the leased assets from Guodian Tuoketuo at a consideration of RMB300 million. At the same time, China Kang Fu will lease the leased assets back to Guodian Tuoketuo for a period of 10 years at an aggregate lease consideration of approximately RMB395 million, to be paid in 40 quarters.

China Kang Fu, founded in June 1988, is one of China’s first financial leasing companies directly under the administration of the Ministry of Commerce and is named with “China”. China Kang Fu is now principally engaged in finance leasing, acquisition and disposal of residual value of finance leased assets, consultation and providing surety of finance leasing transactions.

The long-term good cooperative relationship between United PV and China Kang Fu is the basis of the low cost financing. United PV has been committed to building a strong environment for investment and loan in China’s solar power industry. To contribute to the China’s solar power industry, the Company is devoted to the acceleration of its increase in installed capacity, as well as its access to different sources of low interest financing and optimization of its financing structure in the mainland.