Strategic Partnership Forged: Xiamen Haihua Power & Solar First Group Sign Cooperation Agreement

On February 2, 2023, Solar First Group welcomed a delegation from Xiamen Haihua Power Technology Co., Ltd. led by Jiang Chaoyang (Chairman, Party Branch Secretary, and General Manager), accompanied by Liu Jing (Chief Financial Officer), Dong Qianqian (Marketing Manager), and Su Xinyi (Marketing Assistant). Ye Songping (Chairman), Zhou Ping (General Manager), Zhang Shaofeng (Deputy General Manager), and other representatives from Solar First Group hosted the visit.

That afternoon, Xiamen Haihua Power Technology Co., Ltd. and Solar First Group held a signing ceremony for a strategic cooperation framework agreement. This signing served as a catalyst for efficient communication. Through comprehensive, multi-level discussions and exchanges, both parties gained deeper insight into each other's current operations and future development strategies. Both sides expressed strong confidence in future growth and mutually beneficial cooperation.

Areas of Cooperation

During the negotiation meeting, both parties affirmed their commitment, guided by the principles of "equality and mutual trust, joint development, complementary advantages, joint implementation, shared risks and shared benefits", to optimize the integration of technology, capital, site resources, management, and marketing capabilities. They will leverage their respective strengths to pursue in-depth cooperation in:

    • Development and investment in smart energy industry projects

    • Green smart source-network-load-storage projects

    • Smart energy storage power supply product system construction

    • “Belt and Road” projects

    • Engineering contracting and services

    • Equipment sales and agency

Strategic Alignment
This partnership aligns with national energy development policies and plans. It aims to meet domestic market demand for smart energy storage power supply, accelerate the application of source-network-load-storage smart energy solutions, foster international market development, rapidly enhance the brand influence of both companies, and contribute to the advancement of the new energy industry under the "carbon peak and carbon neutrality" goals.

Company Profiles
• Xiamen Haihua Power Technology Co., Ltd. is jointly invested by:
    ▫ Xiamen Haicang Development Group Co., Ltd. (30% shareholding)

    ▫ State Grid Fujian Electric Power Co., Ltd. (30% shareholding)

    ▫ Fujian Mintou Distribution and Sales Co., Ltd. (20% shareholding)
    ▫ Xiamen Huaxia International Power Development Co., Ltd. (20% shareholding).

Established to implement the spirit of the "Several Opinions of the Central Committee of the Communist Party of China and the State Council on Further Deepening the Reform of the Power System", and following the "National Development and Reform Commission and the National Energy Administration on Standardizing the Second Batch of Incremental Power Distribution Business Reform Pilots", the incremental power distribution business project for the Xiamen Haicang Information Industrial Park was included in the second batch of reform pilot projects. Xiamen Haihua Power Technology Co., Ltd. is responsible for the park's incremental power distribution.

• Xiamen Solar First Energy Technology Co., Ltd. specializes in the R&D, production, and sales of solar photovoltaic products. The company provides comprehensive solutions including:
    ▫ Solar power generation systems
    ▫ Source-network-load-storage smart energy systems
    ▫ Solar lights & Wind-solar hybrid lights
    ▫ Solar trackers
    ▫ Solar water floating systems
    ▫ Building integrated photovoltaic (BIPV) systems
    ▫ Flexible mounting systems
    ▫ Ground and roof solar mounting systems.

Its sales network spans China and over 100 countries and regions across Europe, North America, East Asia, Southeast Asia, and the Middle East. Recognized as a "National High-Tech Enterprise", "Small Technology Giant", "Contract-Abiding and Credit-Worthy Enterprise in Xiamen", "Industrial Enterprise Above Designated Size in Xiamen", "Small and Medium-Sized Technology-Based Enterprise", and "Class A Enterprise in Tax Credit", Solar First focuses on renewable energy products. The company holds ISO9001/14001/45001 certifications, possesses 6 invention patents, over 50 utility model patents, and 2 software copyrights, demonstrating extensive experience in renewable energy product design and manufacturing.