Press release
To: Business Editor [For immediate release]
Singyes Solar and China South City Sign MOU to Build
Solar Power Generation Systems on 260K sq.m. of Roof Top,
Sign Contract for 2MW Roof-Top Solar Power Generation System
Joining Hands to Build Smart Green Communities
(7th July 2015, HONG KONG) - China Singyes Solar Technologies Holdings Limited ("Singyes Solar"; 750.HK) and China South City Holdings Limited ("China South City", 1668.HK) jointly announced that they have signed a memorandum of understanding (the "MOU") to forge closer cooperation in solar power energy conservation business. Singyes Solar will be China South City's priority partner for installing solar power generation systems on the roof-top of buildings in China South City's projects, which are suitable for such installment. This is expected to involve 260,000 square meters of roof-top area. The projects are located in eight provincial capitals or municipality, namely Shenzhen, Nanchang, Nanning, Xi'an, Zhengzhou, Harbin, Hefei and Chongqing.
China South City is the leading operator of large-scale integrated logistics and trade centers in China, while Singyes Solar focuses on the integration of renewable energy systems by bringing energy savings to buildings. The two companies will leverage their respective strengths in expertise, resources, brand name, operations and management to create a strategic cooperative relationship in solar power energy conservation and environmental protection area. Meanwhile, Singyes Solar will consider China South City's products and services as its top priority for operation, including its office buildings, logistics and warehousing, trade centers, as well as online and offline sales platforms.
In addition, Singyes Solar and China South City have signed a contract where Singyes Solar is commissioned to build a 2MW solar power generation system on the roof-top of the Plaza 4 in China South City Shenzhen Phase II, for use by China South City Shenzhen and its tenants. The power system is expected to generate an average annual 2,000,000 kWh of electricity. Singyes Solar will be responsible for capital investment, design, procurement, construction, electricity supply operations and maintenance of the solar power generation system. Meanwhile, China South City Shenzhen would pay Singyes Solar the corresponding electricity fees based on the actual electricity consumption and the contracted price. The project is expected to be completed by the end of this year and connected to the power grid thereafter.
Mr. Cheng Chung Hing, Co-Chairman and Executive Director of China South City, said, "As China's economic development has entered a 'new normal', the government has actively promoted quality and sustainable economic growth. Following the implementation of government policy, we are very pleased to work together with Singyes Solar to lower the power bills at our projects on one hand, and to create a green operating environment for our customers and boost their competitiveness on the other hand, hence contributing to our environmental efforts. We firmly believe that the cooperation will allow both companies to leverage their respective competitive strengths to achieve a win-win situation, driving each other's future business development into a new phase."
Mr. Liu Hongwei, Chairman of Singyes Solar, elaborated that "We believe the Chinese government will have more robust planning on green and sustainable development, in order to support its overall growth plan. The two companies will explore collaboration in different projects, which some of them are located in the provinces covered by the 'One Belt and One Road'. Also, we expect the roof top project is available for installing 26MW solar power generation stations. The collaboration will bring more development opportunities for us, especially in broadening the application of photovoltaic (PV) systems. We will cooperate with China South City in various areas such as the design and construction of green buildings and application of PV systems. The collaboration will enable us to seize the growing market opportunities and work together in building smart green communities."
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About China South City Holdings Limited
China South City Holdings Limited (SEHK: 1668) is the leading large-scale integrated logistics and trade center operator in China by gross floor area. It strives to provide professional integrated logistics and trading platforms with comprehensive value-added ancillary services, including E-commerce services, one-stop logistics and warehousing services, outlet operations, furnishing market operations, property management and convention and exhibition services, to assist small-to-medium enterprises in modernizing the way they conduct business. Capitalizing on China South City's unique business model, proven operational capabilities and extensive experience in co-operating with local governments to support urbanization and industrial upgrade throughout China, it has developed an extensive network with eight projects in different provincial capitals and municipality across the nation, including Shenzhen, Nanchang, Nanning, Xi'an, Harbin, Zhengzhou, Hefei and Chongqing. China South City is a constituent of the Hang Seng Composite MidCap Index and the FTSE Hong Kong Indices, respectively.
About China Singyes Solar Technologies Holdings Limited
China Singyes Solar Technologies Holdings Limited (SEHK: 750) is a professional renewable energy solution provider and building contractor. It focuses on the integration of renewable energy systems by bringing energy savings to buildings, and is dedicated to economical solutions for green building. Singyes Solar specializes in developing curtain walls, building integrated photovoltaic/solar thermal (BIPV/BIST) systems, and focuses on PV power stations, solar thermal products, smart micro grid systems and PV and new material products.
For further enquiries about China South City, please contact:
Hill and Knowlton Strategies
David Shiu / Rebecca Yu
Tel: (852) 2894 6372 / 2894 6318
Email: david.shiu@hkstrategies.com / rebecca.yu@hkstrategies.com
For further enquiries about Singyes Solar, please contact:
Edelman Hong Kong
Angela Hui / Justin Chow
Tel: (852) 2837 4721 / 2837 4736
Email: Angela.Hui@edelman.com / Justin.Chow@edelman.com
