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2007-08-24

We will develop Bayanzhuoer Wind project with Guohua Energy Jointly

Hong Kong Pharmaceutical (0182 HK), which will Change Its Name To “China WindPower Group Ltd.” Announce that, the company has cooperated and signed the JV frame agreement with GuoHua Energy Investment Ltd. (GuoHua Energy), which is Shenhua Group’s subsidiary of sole investment, we will establish a JV named “GuoHua XieHe (Bayanzhuoer) Wind Power Ltd.”(Guohua Xiehe), to develop and operate Wulatezhong Banner wind power project in Bayanzhuoer League. Shenhua Group is the shareholder of China Shenhua Energy Stock Ltd. (China Shenhua 1088 HK).
 
Capacity of Phase I of the project construction is 49.5MW, which including all other related engineering, total invest is about 490millions rmb.

The registered capital  of Guohua Xiehe is 171.5million rmb, 25% of is from Hong Kong Pharmaceutical, Guohua Energy owned 75% of the total shares. Operating extension of Guohua Xiehe includes: develop, construct and operate wind farms, wind power generation research and development and other related services. Guohua Xiehe will also provide wind power generation technology consultation service, training and technique services.

CEO of the Group- Mr. Liu Shunxing denotes: “Guohua Xiehe is the 5th wind power project which signed by this year, including Changtu, the group will have total capacity of 210MW, which include the project put into operation and other projects in construction” Guohua Energy’s main business is wind power generation, its wind power capacity is at the top rank of China wind power industry. To cooperate with Guohua means we will have complementary advantages, strongly association, it also shows the unwavering determination from both sides. Our group expects to utilize operation advantages, to cooperate more tightly, to become a leader in the wind power market.

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