On December 3, 2017, Panda Green Energy Group Limited (00686.HK, "Panda Green Energy") announced that it signed a strategic cooperation agreement on new materials technology with AVIC BIAM New Materials Technology Engineering Company Limited to jointly develop and manufacture graphene VCI anti-corrosion materials, which will lead the technological progress in the industry.

Mr. Alan Li, CEO of Panda Green Energy, highly appreciated the two company’s cooperation in the first Panda Power Plant project developed in Shanxi Datong. The protection material of the photovoltaic scaffold in the project adopts the energy saving and environmental-friendly VCI new material technology developed by AVIC BIAM New Materials. The material is produced as low-carbon and green, and takes an industry-leading position in anti-corrosion and preventing blowing sands. It is a good response to the concept of "Technology Panda". With the implementation of the "In-depth Development of Civil-Military Integration” strategy, Panda Green Energy’s close cooperation with AVIC BIAM New Materials on graphene VCI anti-corrosion technology will bring the advanced scientific achievements to the world, creating a broad prospect for science and technology development.

The signing is the starting point to promote the combination of new materials and new energy. Panda Green Energy’s future cooperation with AVIC BIAM New Materials will continue to extend, and contribute to leading the industry standards and promoting technological progress throughout the industry. Panda Green Energy will actively seek cooperation in more fields and explore new green and ecological development paths through cutting-edge technology and innovative business models.