(PRC, Hong Kong, 19 February 2014) United Photovoltaics Group Limited (“United PV” or “the Company,” HK stock code: 686, whose largest shareholder is China Merchants New Energy Group “CMNE”) , a leading solar power plant investor and operator in China, held a “ Joint Partnership for People’s Crowdfunding -- PV-Internet Financing Strategy Joint Press Conference” in Shenzhen today. United PV, together with GD Solar and NCF Group (zhongchou.cn), initiated the strategic cooperation between the solar photovoltaic sector and internet financing. Internet Crowdfunding, a brand-new model, will be introduced to develop the world's first megawatt distributed solar power project in Qianhai, Shenzhen. This is the first such cooperation between China’s photovoltaic industry and internet financing, and is considered a milestone in the development of the PV sector. In the meantime, United PV is partnering up with China Development Bank to explore innovative financing models to support construction of large on-grid solar power plants and distributed solar power generation demonstration parks. The Group has been devoting unwavering efforts to follow national resource strategies, conduct effective risk management and promote the sustainable development of China’s photovoltaic industry.
First Strategic Cooperation between Internet Crowdfunding and Green Real Economy
United PV, a leading solar PVpower plant investor and operator in China -- headquartered in Hong Kong and listed on the Main Board of the Hong Kong Stock Exchange -- has been committed to building the most efficient and professional operational platform for PV power plants in China with core and advantageous industry resources in order to bring the concept of green homes into thousands of households. In the midst of the growing popularity of intelligent terminals, the accelerated development of cloud computing power as well as continuous upgrading of the broadband network, development of internet finance has become a catalyst to initiate integration between new energy and finance, which brings new value to the entire industry.
In the first year of mobile crowdfunding, the integration of crowdfunding with the green economy represented by PV power will, to a great extent, avoid the potential risks witnessed in the internet economy and at the same time will hasten the merging of the green economy with personal finance, enhance public awareness of environmental protection, promote growth of the environmental protection industry by leveraging on the efficiency of the internet and also fuel the industrialization and market reforms of the green economy under new economic conditions.
This PV-internet financing strategy is a product of industries embracing the internet era, a new attempt at cooperation between China’s new energy industry and internet financing as well as a key breakthrough for innovative financing and solar photovoltaic development. China Merchants Group and the Photovoltaic Green-Ecosystem Organization (“PGO”) have offered strong support for the strategic alliance. In the future, China Merchants Group will effectively coordinate the resources and strengthen its support in terms of experience sharing. The PGO will guarantee an efficient and stable supply of PV power in a top-down approach, promote complementary cooperation to jointly create a pleasant ecosystem surrounding the photovoltaic industry and encourage the sustainable and healthy development of the PV power industry.
Crowdfunding to Build Eco Loop of Internet and Finance
As the world's first megawatt distributed solar power project launched by United PV, the project will be financed through China's most influential internet crowdfunding platform – zhongchou.cn -- a website that targets to raise capital from the public. The Group aims to promote construction of 1 MW of new energy power plants with joint efforts of various industry and social networking circles. This innovative model will use finance consumers as the starting point and objective in order to construct the eco loop of internet and finance while promoting the new concept of photovoltaic construction: “Building by Joint Efforts, Participation by All People” to society at large.
The first PV-internet financing project, launched in Qianhai bonded zone, is at the forefront of China's financial innovation pilot projects and has special historical significance. Photovoltaic central enterprises are guiding private capital towards long-term investments with stable returns via the introduction of crowdfunding to those willing to invest in PV power plants. The preliminary plan is to raise funds from contributors with ambitions to invest in solar power farms. United PV joins hands with its partners in order to ensure effective implementation. For example, GD Solar is responsible for project EPC to ensure construction quality, and zhongchou.cn is in charge of fundraising via the internet to support the new strategic cooperation model. In the future, United PV will attempt to finance all of the photovoltaic power plant projects through mobile internet resources by launching the integrated application of new energy and data management in order to improve management efficiency of PV power plants.
Mr. Alan LI, Chairman of the Board/Chief Executive Officer of United PV , said: “The PV-internet financing model is a new initiative by the entire new energy industry. The new model will not only promote long-term, sustainable and healthy development of the PV power plant industry, but also represents an innovative approach in the context of the rapid development of internet financing as well as social networking power. In the face of the worsening haze problem, United PV -- backed by China Merchants Group with its 100-year history -- is committed to fulfilling its corporate social responsibility by inviting the public to participate in carbon emission reductions via the internet. United PV will continue to join hands with industry leaders and strategic partners to build greener homes in China.
