Longji shares issued 17. 800 million yuan purchase of ningbo should be 100% stake in the progress of the announcement

Solar photovoltaic (pv) net news: on June 30, longji shares issued to acquire appropriate of ningbo is the progress of the announcement. Trade shows, solar photovoltaic (pv) network, longji green can science and technology co. , LTD. ( Hereinafter referred to as & other; Longji shares & throughout; 、 “ Party a & throughout; ） Ningbo jiangbei in cash to buy the appropriate new energy technology co. , LTD. ( Hereinafter referred to as & other; Ningbo appropriate throughout the &; ) 100% stake, trading benchmark for 17. 800 million yuan, and according to the performance commitment to the company ( The company and its subsidiaries, youthful, joint-stock company) The performance of the implementation situation to pay floating consideration or compensation paid by the company performance pledge direction performance.

announcement, the fourth session of the board of directors in 2020 after a company deliberated and adopted at the third meeting, longji shares a wholly owned subsidiary of longji le leaf photovoltaic technology co. , LTD. ( Hereinafter referred to as & other; Longji le leaf & throughout; ） On February 23, 2020 at Fang Wang Zhaofeng, Yang Yongzhi, Zhao Xuewen, ningbo industrial investment partnership ( Limited partnership) ( Hereinafter referred to as & other; Ningbo toward Fang & throughout; ) Signed the share purchase agreement, longji le leaf in cash acquisition of ningbo should be 100% of the shares held reached a preliminary cooperation intention.

on June 30, 2020, the company ( The party a) And ningbo should sign a formal the share purchase agreement, will be more deals for the subject change to longji stake, solar panels, the benchmark of dealing of 17. 800 million yuan, the benchmark of a target company 2019 annual audited accounting net premium rate is 17. 04%.

on June 30, 2020, the company ( The party a) With Wang Zhaofeng ( Party a) , Yang Yongzhi ( Party b) , Zhao Xuewen ( 3) party b , ningbo toward Fang ( Party c) Sign a formal the share purchase agreement, will the above deal for the subject change to longji stake, benchmark of dealing of 17. 800 million yuan, the benchmark of a target company 2019 annual audited accounting net premium rate is 17. 04%. Wang Zhaofeng, Yang Yongzhi, Zhao Xuewen ( A general designation & other; Party b & throughout; Or & other Performance pledge party & throughout; ） Performance commitment company in 2020 and 2019, and 2021 to achieve net profit adjustment, it is not lower than 220 million yuan ( Exclusive) , 241 million yuan ( Exclusive) , 251 million yuan ( Exclusive) In the performance commitment period, if any of the performance commitment to the company after the adjustment of the implementation of the fiscal year net profit higher than the total commitment to net profit, the company will pay for earnings according to the contract commitment and/or party c to float the price; If the implementation of the adjusted net income is less than the commitment to net profit, the performance pledge party shall according to the agreement to longji share-based payment compensation performance.

according to the announcement, according to the acquisition of the target company's main business for the photovoltaic cells and components of the production, sales as well as the existing plant rental business, the production base is located in Vietnam, the main source of revenue and profit is its wholly owned subsidiary the batteries and photovoltaic (pv), Vietnam has photovoltaic battery capacity exceeds 3 gw, photovoltaic modules can produce super 7 gw, has good profitability. After completion of the acquisition, the property will be incorporated into the company consolidated scope, will further enhance the company's overseas capacity batteries, components, improve the global capacity layout, is conducive to circumvent the photovoltaic industry foreign trade barriers, solar energy, enhance the company's overall competitiveness, meet the company's long-term strategic planning and development. By signing this agreement, the company and its subsidiaries to buy entrust finance ( Bank of structural type deposit money) The balance of 2. 0. 6 billion yuan. Held photovoltaic Solar PPM target Company, a subsidiary of Vietnam Company Limited ( Hereinafter referred to as & other; PPM” Photovoltaic (pv), Vietnam has signed with related parties about the sale of the stake transfer agreement, has yet to go through the equity alteration registration) Equity during the Vietnam photovoltaic provides equity pledge for PPM of bank loan and guarantee the equity pledge registration, the pledge of mark for Vietnam photovoltaic PPM40 % stakes. Confirmed by the ningbo should be the management, PPM has completed the loan repayment obligations, party b promises will be completed in December 31, 2020 equity pledge and the registration of change.

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this paper statistics the September to today issued a total of 2. 85 gw pv power plant EPC and 1. 9 gw component bid opening information. Among them, the EPC project owner units is given priority to with soe/state, this also reflected from the side, China solar power network, in project bidding and parity, the state-owned enterprises have become the absolute main force. Specifically, CGNPC in development of 410 mw, 603 mw, guangzhou energy saving 220 mw, 345 mw, jin can group the people vote for 200 mw, 190 mw hubei energy group, huaneng power 180 mw