Beijing Energy Holding Co., Ltd. Becomes the Largest Shareholder of Panda Green

On 18 February 2020, Beijing Energy Holding Co., Ltd. subscribed 7,176,943,498 Shares at the Subscription Price of HK$0.25 per Subscription Share for a total cash consideration of HK$1,794,235,874.5. The Subscription Shares represent approximately 32.00% of the enlarged fully paid up issued share capital of the Company, making Beijing Energy Group the largest shareholder of the Company.

Beijing Energy Holding Co.,Ltd. is an A-level enterprise of Beijing. The total assets of the Company went over 300 billion Yuan, while the total revenue went over 5 billion Yuan. The Company offers integrated energy services. The Company provides electricity generation, heating supply, and coal production services. Beijing Energy Holding also conducts real estate development, energy saving, and securities businesses.

In the future, Panda Green will achieve a better development resting on the support offered by the strong shareholders, the advantages of state-owned enterprises as well as the market competition.