Recently, Jiangsu Sunpower Clean Energy Co., Ltd., a subsidiary of Sunpower Group, and Qingdao Xinyuan Thermal Power Co., Ltd. signed an equity transfer agreement in Jimo District, Shandong Province, and successfully acquired Xinyuan Thermal Power. Ma Ming, Vice Chairman of Sunpower Group, Gu Quanjun, Senior Vice President of the Group and General Manager of Sunpower Clean Energy Company attended the signing ceremony and delivered a speech. Also present at the ceremony were Zhang Mian, Vice President of Sunpower Group, Wang Wenyan, Deputy General Manager of Sunpower Clean Energy Company, and the main members of the leader team of Xinyuan Thermal Power Plant.
At the signing ceremony, the person in charge of Xinyuan Thermal Power Plant introduced the development history of Xinyuan Thermal Power and said that with the joint efforts of all employees over the years, Xinyuan Thermal Power has become the backbone enterprise of Jimo City, making outstanding contributions for taxation and heat supply. Sunpower Group is a company with a high degree of social responsibility. The leaders of the company are far-sighted and will certainly achieve better development of Xinyuan Thermal Power.
Gu Quanjun, vice president of Sunpower Group and general manager of Sunpower Clean Energy Co., said that the combination of Xinyuan Thermal Power and Sunpower Group is a cross-regional development. The accumulation of Xinyuan Thermal Power for many years and the development of the standardization of Sunpower Group will be rapidly integrated. Together, we can inherit and innovate in cooperation.
Ma Ming, vice chairman of Sunpower Group, introduced the development of the group. Adhering to the cultural philosophy of pragmatism, innovation, efficiency and harmony, Sunpower Group promotes the professionalism, dedication and the pursuit of excellence of employees, and adheres to the principles of refined management, standardization process and internationalization. The "marriage" between Sunpower and Xinyuan has brought new opportunities for the future development of the company. Sunpower advanced technology research and development and independent innovation advantages, standardized management system and operation mechanism can provide high-quality resources for Xinyuan Thermal Power and create a better development platform for employees. At the same time, Chairman Ma expressed his heartfelt gratitude to Xinyuan management for their trust in Sunpower. He sincerely hopes that the management will continue to care for, support and help the company's progress. Finally, Chairman Ma particularly emphasized the quality and safety of the cooperation projects between the two parties, putting production safety and employee safety at the forefront, ensuring the smooth operation of the heating season, allowing the Jimo government to rest assured, satisfying shareholders and warming the public.
Qingdao Xinyuan Thermal Power Co., Ltd. is located in Jimo District, Qingdao City, Shandong Province. The company was established in 2003. Its main business is to provide steam to industrial enterprises and provide winter heating for residents, while selling electricity to State Grid Corporation. County-level Jimo City, the original location of Xinyuan Thermal Power was approved in September 2017 as the Jimo District of Qingdao. Some of Qingdao's industries and residents are expected to move to Jimo, and the future planning and development of Jimo District will drive the continued growth of Xinyuan Thermal Power Business. The acquisition will further strengthen the strategic layout of Sunpower Group in the green investment business segment, expand the scale of the company's thermal power industry, and enhance the overall competitiveness of the company.