Hong Kong, China, 7 July 2014 - 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, today announced the electricity generation volume in the second quarter of 2014 (“the Period”) of the 14 solar power plants surged 50% to approximately 145,373 MWh, the total volume of electricity generation for the six months ended 30 June 2014 amounted to approximately 242,024 MWh. The 14 solar power plants, owned by the Company and the associates of the Company, have a total installed capacity of approximately 532MW during the Period.

During the Period, the electricity generation volume grew rapidly mainly because: 1) after the trial running in the first quarter, the 180MW plants in Gonghe, Qinghai have been in operation with an electricity generation volume of 28,783 MWh in the second quarter, representing a significant q-on-q increase of 325%; 2) with the gradual improvement in curtailment in Jiayuguan, Gansu and the strengthened operational management of the Company, the utilization ratio climbed to approximately 70% and the electricity generation volume increased by 55% compared to the last quarter; and 3) driven by seasonal factors, the electricity generation performance of most of the projects was better than which in the first quarter.

Mr. Alan LI, Chairman of the Board and CEO of United PV, said: “We are thrilled to see the rapid improvement of electricity generation volume in the second quarter. Besides the above factors, the Company has been strengthening the management of operation and maintenance and electric power marketing while continuing to optimize its operation system in order to maximize the power generation volume of solar power plants. In addition, the rise in electricity generation volume has proved our capacity in selecting quality plants. In the future, we will continue to accelerate the acquisition of high quality solar power plants.”