Goldpoly Proposes Acquisition of 55% Equity Interest in 180MV PV Plants from its Shareholder Company
Time:2014-01-08

(PRC, Hong Kong, 8 January, 2014) Goldpoly New Energy Holdings Limited (“Goldpoly” 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, today announced that Goldpoly and its shareholder company Renewable Energy Trade Board Corporation (“EBODHK”, a renewable energy trading platform under CMNE), entered into the New Sale and Purchase Agreement pursuant to which, EBODHK has conditionally agreed to sell and Goldpoly has conditionally agreed to purchase the 55% sale interest, which represents 55% equity interest in the Changzhou Dinghui New Energy Limited (“Target Company”) for a total cash consideration of RMB5,500,000 (equivalent to approximately HK$6,930,000).


According to the Agreement, EBODHK shall assign the shareholders’ loan to the Target Company in the amount of RMB2,750,000 (equivalent to approximately HK$3,465,000) to Goldpoly simultaneously with the transfer of the 55% sale interest to Goldpoly. Upon Completion, Goldpoly will hold 100% of the equity interest in the Target Company. On 7 January, Goldpoly and EBODHK jointly acquired the Target Company successfully which Target Company owns 180MW PV project located in Gonghe, Qinghai Province. After the acquisition, Goldpoly and EBODHK own 45% and 55% of the equity interest respectively.


Mr. Alan LI, Executive Director/Chief Executive Officer of Goldpoly, said : “Goldpoly is very pleased to acquire the remaining equity interest of 180MW PV plants from EBODHK to wholly own these PV plants in Qinghai. We are working closely with our business partners to acquire grid-connected PV plants and further expand our business in 2014, which will enable Goldpoly’s to become a leading enterprise in China’s solar farm marketplace. We are committed to creating a greener world with our clean energy.”