The Inaugural Meeting and First Partner Meeting of Guangdong Runchuang New Energy Equity Investment Fund was held at Hotel Kapok Shenzhen Bay On the morning of February 5. Li Ruge, the Chief Accountant of China Resources Group, Chen Rong, the Director of Finance Department, Shi Hongchao, the Deputy Director of Strategy Department, Hu Min, the President of CR Power, Ge Changxin, the Vice Chairman of the Board of Directors, Zhu Guolin, the Senior Vice President and Chief Financial Officer, Wang Xianliang, the Senior Deputy General Manager and Chief Operating Officer of China Resources Capital, and Yu Hong, the Assistant General Manager and Chief Financial Officer attended the meeting. A total of more than 40 guests participated in the meeting, including representatives of shareholders of CR Power and funding enterprises, and representatives of relevant investment institutions. Vice Chairman Ge Changxin presided over the meeting.

The list of members and observers of the Fund Investment Decision-making Committee was announced at the meeting, the fund preparation report and project reserve report were also presented, and four proposals concerned with fund management were discussed at the meeting, such as, Fund Management Agreement, Industry Consultancy Agreement, and Agreement on Pre-emption Right of Equity. Fund partners, likely, CR Power, China Resources Capital and Guotong Fund signed the Limited Partnership Agreement.

Li Ruge, the Chief Accountant of the Group, congratulated the establishment of Runchuang New Energy Fund. He pointed out that promoting the establishment of industrial funds was an important measure for China Resources Group to enforce new development concepts, accelerate the implementation of innovation-driven development strategies, and assist in developing emerging industries. CR Power must adhere to innovation-driven development, and take the opportunity of the establishment of Runchuang New Energy Fund to enhance its innovation capabilities and accelerate the industrial upgrading continually. Collaborative management of Runchuang New Energy Fund is a critical mission given by the Group to CR Power and China Resources Capital. He proposed that the industry fund should follow the purpose and take the initiative to quickly promote the transformation and upgrading of China Resources Group. CR Power and China Resources Capital should strengthen cooperation and break through the bottleneck of production and financing integration; the fund management team must operate in compliance, avoid risks, and strive to amplify the the benfits of investors.

President Hu Min expressed thanks to China Resources Group and China Resources Capital for their long-term support for CR Power. He indicated that under the background of strict financial supervision, Runchuang New Energy Fund of CR Power could still be established smoothly, highlighting the high recognition of investors, such as, China Reform Holdings, China Merchants Bank, ICBC, Runsheng Fund, on current and future industrial capabilities of CR Power. He hoped that the fund team would unite with each investor to develop their own values and work together to create value, strive to become a practitioner, who carried out synergistic development of “industry + capital”, and was the first one making breakthrough, and an explorer accelerating the transformation of CR Power, and proliferate according to the established development strategy.

Wang Xianliang, the Senior Vice President and Chief Operating Officer of China Resources Capital, said that China Resources Capital, as the middle and back office of the Fund, would fully support the risk control and compliance management of the Fund. Representatives from the funding parties, such as China Reform Holdings, China Merchants Bank, ICBC, and Runjing Fund, expressed their willingness to fully cooperate with the follow-up work of Runchuang New Energy Fund.

The establishment of Runchuang New Energy Fund will augment huge amounts of capital into clean energy power generation and high-tech energy enterprises, such as, wind power, biomass cogeneration and waste incineration power generation. It is of great significance for CR Power to deepen reform, adjust business structure, promote industrial layout, enhance the core competitiveness of the company as well as having a positive and effective role in promoting CR Power to achieve strategic goal of clean energy development during “13th Five-Year Plan”.