Reference is made to the announcements dated 1 December 2015 and 4 January 2017 made by United Photovoltaics Group Limited (the “Company”) in relation to, among other things, the acquisition of the entire equity interest in Tangshan Zhaoxin Solar Power Co., Ltd. (“Tangshan Zhaoxin”) pursuant to the Tangshan
Acquisition Agreement (the “Acquisition”). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.
The Board is pleased to announce that the Acquisition was completed on 13 February 2017.
Tangshan Zhaoxin owns and operates a grid-connected solar power plant with an installed capacity of approximately 17.29MW located in Tangshan, Hebei Province, the PRC. Upon completion of the Acquisition, Tangshan Zhaoxin has become an indirect wholly-owned subsidiary of the Company and therefore its results, assets and liabilities will be consolidated into the consolidated financial statements of the Group accordingly.
