A delegation led by Zeng Zhaohe, the President of Jiangxi Energy Group Co., Ltd. (“Jiangxi Energy”), visited CR Power on May 14. Ge Changxin, the vice chairman of Board of Directors and senior vice president of CR Power, met the delegation to discuss and exchange opinions on the present market condition and future strategic cooperation. Both parties also signed a Strategic Cooperation Framework Agreement.

According to the Agreement, CR Power and Jiangxi Energy will establish strategic cooperative partnership in energy investment and development and conduct comprehensive cooperation in the development, operation and management of various businesses, including fuel supply, traditional energy and new energy. Both parties will give play to their experiences and advantages for mutual benefit and win-win.

During the meeting, Vice Chairman Ge Changxin briefed about the recent development of China Resources and CR Power and expressed that it was a common aspiration of CR Power and Jiangxi Energy to promote a deep cooperation; signing this Strategic Cooperation Framework Agreement was a good start for both sides to carry out cooperation in various sectors; and it was expected that both sides would take this opportunity to expand cooperation further and make new progress in business development jointly.

President Zeng Zhaohe said that CR Power, an outperformer among state-owned enterprises, had excellent management mode and extensive experience; signing this Agreement was of great importance, indicating that the cooperative relationship between both parties had entered into another stage. He hoped that both sides will give full play to their advantages to further expand the cooperation in relevant sectors. In particular, the cooperation in electricity, coal and other areas should be deepened to promote joint development.

Jiangxi Energy is a massive energy enterprise which engages in energy investment, development, construction, and operation. As a large state-owned energy enterprise in Jiangxi, its business includes coal, logistics trade, power/fuel/new energy, coke, glass, pipe, engineering supervision, medical care and foreign investment.

Xu Hongbo, the assistant executive of CR Power and General Manager of the Strategic Development Department, Nie Weimin, the vice deputy of Committee of Experts and relevant persons in charge from relevant departments and affiliated enterprises of both sides also attended the meeting.