(Hong Kong, March 20 2017) – China’s largest pure play solar power plant investor and operator, United Photovoltaics Group Limited ("United PV" or the "Company", together with its affiliated companies, the "Group", stock code: 00686.HK, whose largest shareholder is China Merchants New Energy Group) is pleased to announce the completion of capital injection of several international strategic investors. China Merchants New Energy, together with the parties acting in concert, expanded the shareholdings to 27.84% and continued to stay as the Company’s largest shareholder. The new investors, ORIX Corporation (ORIX) and Asia Climate Partners (ACP) will hold approximately 14.97% and 4.64% shares of United PV respectively, becoming the second and the third largest strategic shareholders. Upon the completion of this capital increase, United PV will further optimize its shareholding structure, which is conducive to promote and advance the international competitiveness of the Company.

ORIX is an international large integrated financial services group with diversified businesses, listed on the New York Stock Exchange and the Tokyo Stock Exchange. It’s currently engaged in environmental protection, new energy and finance business etc., with a network spanning 36 countries and regions worldwide. As the most active and powerful investor in the new energy sector in Asia Pacific area, ORIX also plays as the largest renewable energy investor and operator with more than 7GW of renewable energy capacity around the world. ACP is a climate fund jointly initiated by the Asian Development Bank (ADB), Robeco and ORIX in 2014, aimed at investing in clean energy, resource efficiency and environmental protection. Benefited from the combined strength of partners’ years of experience in clean energy, ACP is committed to looking for long-term strategic partnership with high-quality enterprises, and serving as the largest and most comprehensive private equity investment platform for Asian newly emerging environmental protection financing market.

As the pace of China’s economic growth changing, energy, being the foundation and impetus for China’s steady growth, is highly valued by Chinese government. How to promote energy production and consumption reform, and to come up with a clean, efficient, safe and sustainable energy development way, is essential to solve such national weakness as China's low per capita resource and unbalanced energy structure. The capital injection of ORIX and ACP recognized United PV’s achievements in new energy and corporate governance, but also showed the strong confidence on United PV’s continuous developing potential from the large international institutions, which will greatly enhance United PV’s global expansion capabilities and the integration ability on global new energy resources.

It is foreseen that, with the adjustment of China's energy structure and the steady progress of the energy system reform, United PV will play a more important role in the resources allocation in the market. With the help of all parties, China's energy "stepping out" will also be realized soon.

In the future, United PV will fully cooperate with ORIX, ACP and ADB in new energy projects investment management, financial and overseas business development. These strategic shareholders will provide United PV with abundant strategic resources in its way to become a global resource integration platform; at the same time, United PV will be the model of China's outstanding new energy enterprises, tapping the opportunity of "Belt and Road"(“B&R”) initiative, bringing green concept to “B&R” routes, and combining the higher green development standards and results to “B&R” countries, in order to promote green development along the routes. Leveraging the necessity of building green ecological way along “B&R” routes, United PV, a new energy super carrier, has officially set sail. In the next era of green energy, United PV will present the whole world with green leadership of China's leading new energy enterprise.