[For immediate release]
Kong Sun acquires three PV power plants for RMB480 million
with installed capacity of 100 MW
******
Improve the layout of PV power plants nationwide
and further expand business into Anhui Province
(23 December 2015 – Hong Kong) Kong Sun Holdings Limited (“Kong Sun” or the
“Company”, HKEx stock code: 295, which together with its subsidiaries is referred to as
the “Group”), which invests in and operates photovoltaic power stations, is pleased to
announce today that Kong Sun Yongtai Investment Holdings Co., Ltd., a wholly-owned
subsidiary of the Company, acquires three PV power plants in Hefei City, Luan City and
Suzhou City of Anhui Province with combined installed capacity of 100 MW, which are
expected to be connected to the power grid on or before 31 January 2016 and expected
to contribute revenue in the early first quarter of 2016.
The total consideration, including the assumption of the debts and liabilities of the
projects, of the three photovoltaic power plants is RMB480 million, which shall be settled
in cash by the Company’s internal resources. The consideration of Hefei and Luan
projects didn’t include the modules.
Dr. Liu Wen Ping, Executive Director of Kong Sun, commented, “The acquisition of
these three PV power plant projects further improves the Group’s business layout of PV
power plants nationwide. Our total installed capacity will then increase to 569.5MW upon
the completion of the acquisition. Looking forward, we will continue to implement the
strategy of investment and operation of PV power plants expand our business into other
provinces and add ‘agriculture and PV’ and ‘fishery and PV’ complementation projects to
our portfolio. We will grasp the opportunity arising from the policy-favored and fastgrowing PV industry with the aim of bringing considerable and consistent benefit to
shareholders.”
- End -
Kong Sun acquires three PV power plants for RMB480 million with installed capacity of 100 MW
23 Dec 2015 / Page 2 of 2
List of grid-connected photovoltaic projects:
Date
Project Location
Equity Interest
Oct 2014
Hami, Xinjiang
100%
Nov 2014
Yumen, Gansu
100%
Nov 2014
Jiuquan, Gansu
100%
Mar 2015
Yingjisha, Xinjiang
100%
Mar 2015
Kuche, Xinjiang
100%
Mar 2015
Wushi, Xinjiang
100%
May 2015
Hejing, Xinjiang
100%
June 2015
Makit, Xinjiang
100%
June 2015
Lanzhou, Gansu
100%
Oct 2015
Artux, Xinjiang
100%
Oct 2015
Artux, Xinjiang
100%
Oct 2015
Weixian, Hebei
100%
Ordos,
Dec 2015
100%
Inner Mongolia
Dec 2015
Guixi, Jiangxi*
100%
Dec 2015
Huzhou, Zhejiang*
100%
Dec 2015
Hefei, Anhui**
100%
Dec 2015
Luan, Anhui**
100%
Dec 2015
Suzhou, Anhui**
100%
Installed Capacity
20 MW
20 MW
30 MW
20 MW
20 MW
20 MW
20 MW
20 MW
49.5 MW
30 MW
30 MW
30 MW
10 MW
50
100
40
40
20
569.5
MW
MW
MW
MW
MW
MW
* To be connected to the power grid on or before 31 December 2015.
** To be connected to the power grid on or before 31 January 2016.
Company Profile
Kong Sun principally engages in the investment and operation of photovoltaic power
station projects across various provinces and regions of China. It currently owns gridconnected projects in Hami, Yingjisha, Kuche, Wushi, Hejing, Makit County and Artux of
Xinjiang, Yumen, Jiuquan and Lanzhou of Gansu, Weixian of Hebei, Ordos of Inner
Mongolia, Guixi* of Jiangxi, Huzhou* of Zhejiang, Hefei**, Luan** and Suzhou** of Anhui
as well as several photovoltaic power plants under development across China.
In addition, since 2014, Kong Sun has entered into a number of memorandum of
understanding and agreements for the investment in and development of photovoltaic
power plants across China.
Kong Sun is a constituent of MSCI Global Small Cap Indexes – China. It has also been
selected as constituent of the Hang Seng Global Composite Index & Hang Seng
Composite Index.
For further enquiries, please contact:
iPR Ogilvy & Mather
Tina Law / Gary Li / Louise Ye / Rosa Fung
Tel:
(852) 2136 6181 / 3170 6753 / 3920 7654 / 3920 7634
Fax:
(852) 3170 6606
Email: [email protected]