On the evening of July 29,Canlon issued the "Announcement on Proposed Investing and Establishing a Joint Venture", and planned to cooperate with Ligao Real Estate Group Co., Ltd., Shenzhen China Merchants Guoxie No. 2 Equity Investment Fund Management Co., Ltd., and China Energy Construction Group Southern Construction Investment Co., Ltd., a listed company in an agriculture-related sector, Shenzhen Gaohe Pengrun Investment Partnership (Limited Partnership), and Shenzhen Qianhai Fuxintong Capital Management Co., Ltd. They signed the "Strategic Cooperation Framework Agreement" and memorandum, and Invested in the establishment of Quanyu Low Carbon (Shenzhen) Technology Co., Ltd. (tentative name).

Progress Together | Top "Circle Of Friends" Lineup

This time, the "circle of friends" that entered the new energy track together with Canlon has a luxurious lineup, including industry leaders, state-owned capital and listed companies——

• China Energy Construction Southern Construction Co., Ltd. is a Fortune 500 company and the world's largest provider of comprehensive energy, power and infrastructure solutions—a subsidiary of China Energy Construction Co., Ltd. has rich strength and experience in energy industry investment;

• Shenzhen China Merchants Guoxie No. 2 is a wholly-owned subsidiary of China Merchants Capital Management Co., Ltd., committed to becoming a first-class and world-renowned alternative asset management institution in China;

• Ligao Group is a large-scale comprehensive enterprise group that focuses on real estate development and integrates diversified industries such as health care, commerce, technology, property, cultural tourism, and education. It is listed on the main board of the Hong Kong Stock Exchange and ranked in China's real estate TOP80;

•Shenzhen Qianhai Fuxintong, Shenzhen Gaohe Pengrun and a listed company in an agriculture-related sector all have good faith and reputation in their respective market sectors.

Quanyu| Provide systematic solutions for energy conservation and emission reduction

The registered capital of the joint venture company is RMB 3,000,000,000, of which Canlon contributed RMB 300,000,000, accounting for 10% of the registered capital of the joint venture company. After the establishment of the company, it will use low-carbon technologies to provide systematic solutions for energy conservation and emission reduction in the whole region, including:

• Invest in the construction of micro-grid projects, including urban energy complexes, multi-energy complementary micro-grids in areas lacking electricity, etc.;

• Committed to third-generation semiconductor chips, especially silicon carbide and gallium nitride, industrial applications include energy storage converters, photovoltaic inverters, wind energy converters, electric vehicle OBC/DCDC and inverters, wireless satellite communications and IDC power supply energy saving, special power supply, etc. in global data centers;

• Invest in the construction of green methanol projects, consume photovoltaic wind power in the region, use photovoltaic and wind power to electrolyze water and biochar to synthesize green methanol, promote the use of green methanol throughout the region, and comprehensively reduce greenhouse gas emissions from related industries in the region ;

• Production of flexible thin-film solar cells;

• Utilize the idle capacity of the existing coal chemical enterprises to produce ethylene glycol, through technological transformation, equipment upgrade and design to produce oxamide, and replace the use of urea with oxamide;

• Invest in the production of special fire extinguishing fluids to effectively deal with Class D fires, in order to solve the problem of lithium battery safety fires.

Joint / Multi-Field All-Round Cooperation

Jiangsu Canlon Building Materials Co., Ltd., as a leading polymer waterproof material company in China, will be responsible for the construction tasks of the distributed industrial and commercial rooftop photovoltaic power station invested by the joint venture. At the same time, with the preliminary agreement of all parties, after the establishment of the joint venture company, Canlon will conduct all-round cooperation in the following fields:

• In the field of CIGS thin-film solar cells, the joint venture and its subsidiaries give priority to the joint R&D and marketing of BIPV applications with Jiangsu Canlon;

• Jiangsu Canlon Building Materials Co., Ltd. (or its subsidiaries) provides building waterproofing products and technical services for projects invested by the joint venture and its subsidiaries;

• Promote investment platforms such as government-owned urban investment companies and agency construction bureaus where joint ventures and subsidiaries invest in priority cooperation with Jiangsu Canlon Building Materials Co., Ltd. in terms of waterproof material procurement and construction services.

LOOKING AT THE BLUE OCEAN FROM AFAR

In the future, Canlon will be based on Quanyu Low-Carbon (Shenzhen) Technology Co., Ltd., actively respond to the green and low-carbon development strategy, vigorously develop low-carbon industries, focus on new energy, new materials and other industries, and further realize the extension of the industrial value chain.