On December 18th, Zhongli Science and Technology signed the Share Subscription Agreement with Combined Photovoltaic. Zhongli subscribed 180 billion equities from Combined Photovoltaic in cash at the price of 1 HK dollar per equity. After the assignment, Zhongli holds 6.33% shares of Combined Photovoltaic.
The main industry of Combined Photovoltaic is highly fit with the existing business and further strategy of Zhongli Science and Technology which become the biggest reason why Zhongli subscribed the shares of Combined Photovoltaic. In addition to allotted shares, Combined Photovoltaic also floated new shares to the public, and the representative of the largest shareholder--Merchants New Energy Group, Magicgrand, subscribed the shares together with Zhongli Science and Technology Group which highlighted the determination to strengthen the new energy industry through joint important strategic partners.
According to Wang Baixing, the chairman of Zhongli Science and Technology Group, it is a good chance to take advantage of the professional resources to improve the level of development of PV industry and to provide strong support to PV industry at home and abroad.
