CTDC Enters Into Cooperation Agreement With Goldpoly to Secure Supply of Solar Cells
10 Noviembre 2010 - 6:00AM
China Technology Development Group Corporation ("CTDC", the
"Company" or "we") (Nasdaq:CTDC), a growing clean energy group
based in China to provide solar energy products and solutions,
announced today that CTDC has signed a Strategic Cooperation
Agreement (the "Agreement") with Goldpoly International Limited
("Goldpoly") to establish a solid and long-term relationship for
supply of solar cells, and jointly build up the vertically
integrated PV value chain.
Pursuant to the Agreement, both companies agreed to form a
solid long-term relationship for supply of solar cells. Goldpoly
agreed to provide CTDC with high-quality polycrystalline PV cells
not less than 100 megawatt ("MW") per year from beginning of 2011
at the lowest price in the market and CTDC agreed to preferentially
purchase the solar cells from Goldpoly as its major supplier.
CTDC and Goldpoly will jointly develop the vertically
integrated PV industry chain. CTDC is developing the down-stream
chain of the industry, including PV modules manufacturing and PV
application solutions, while Goldpoly is focusing on PV cells
production to integrate the industrial mid-stream chain.
"We are delighted to partner with Goldpoly, which is
another significant step for CTDC following the acquisition of PV
modules manufacturer," said Mr. Alan Li, Chairman and CEO of CTDC.
"The cooperation enables us to obtain stable and sufficient supply
of polycrystalline solar cells and to reduce our production cost of
PV modules, which will in turn increase our profit margin. Looking
forward, we are confident to cooperate with Goldpoly successfully
to build up the vertically integrated PV chain."
Mr. Hung Chao Hong, Chairman of Goldpoly, said, "We are
excited to have CTDC as our partner. Such strategic cooperation
essentially represents the development trend of two leading solar
enterprises in Fujian Province and will enhance both parties'
competitive position in the
market."
About CTDC: Established in 1995, CTDC has
been listed on the US Nasdaq Stock Market since 1996. CTDC is a
growing clean energy group in China, which provides solar energy
products and solutions. CTDC's major shareholder is China Merchants
Group, a state-owned conglomerate in China (http://www.cmhk.com).
For more information, please visit www.chinactdc.com
About Goldpoly:
Goldpoly International Limited ("Goldpoly") is a company
incorporated in BVI with limited liability. Through its subsidiary
– Goldpoly (Quanzhou) Science & Technology Industry Co. Ltd.,
Goldpoly is principally engaged in the production and sales of
monocrystalline and polycrystalline solar cells. Goldpoly is a
wholly-owned subsidiary of Time Infrastructure Holdings Limited
which is listed on the main board of the Stock Exchange of Hong
Kong with stock code 00686.
Forward-Looking Statement Disclosure:
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding:
A) the timing of product, service and solution deliveries; B) our
ability to develop, implement and commercialize new products,
services, solutions and technologies; C) expectations regarding
market growth, developments and structural changes; D) expectations
regarding our product volume growth, market share, prices and
margins; E) expectations and targets for our results of operations;
F) the outcome of pending and threatened litigation; G)
expectations regarding the successful completion of contemplated
acquisitions on a timely basis and our ability to achieve the set
targets upon the completion of such acquisitions; and H) statements
preceded by "believe," "expect," "anticipate," "foresee," "target,"
"estimate," "designed," "plans," "will" or similar expressions are
forward-looking statements. These statements are based on
management's best assumptions and beliefs in light of the
information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the
results that we currently expect. Factors that could cause these
differences include the risk factors specified on our annual report
on Form 20-F for the year ended December 31, 2009 under "Item 3.D
Risk Factors." Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking
statements. The Company does not undertake any obligation to update
publicly or revise forward-looking statements, whether as a result
of new information, future events or otherwise, except to the
extent legally required.
CONTACT: China Technology Development Group Corporation
PR/IR Department
Selina Xing
+86 755 2669 8709
+852 3112 8461
ir@chinactdc.com
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