On June 19, 2010, Jinggong Technology held the first extraordinary shareholders meeting of 2010. The meeting reviewed and approved the “Proposal on the Relocation of Zhejiang Jinggong New Energy Co., Ltd. and the Technical Reform Project of Polysilicon Slicing Production Line”. 3 proposals including “Proposal on Capital Increase of Zhejiang Jinggong New Energy Co., Ltd., a wholly-owned subsidiary of the company”, agreeing that Jinggong New Energy Company will relocate to Caoxi production plant as a whole, without affecting its existing production and sales. In the case of the existing 50MW solar polysilicon chip production capacity, the slicing scale will be increased to 100MW through technical transformation, and the technical transformation project of Jinggong New Energy Company Relocation and Solar Polysilicon Slice Production Line will be implemented.

Jinggong New Energy Company's relocation and solar polysilicon chip production line technical transformation project is a combination of Jinggong Technology's own land and other resource advantages, from the perspective of upstream and downstream coordinated development of photovoltaic industry, overall profitability and industrial development planning. The total investment of the project is 180 million yuan, of which Jinggong New Energy will raise 40 million yuan by itself, apply for project technical reform loan of 90 million yuan, and Jinggong Technology will invest 50 million yuan (mainly used for land and plant construction required by the project, etc.) After completing the construction of the project plant as required, the technology will increase the capital of Jinggong New Energy by 50 million yuan through the method of asset evaluation, and the balance will be adjusted by cash. The planned construction period is 10 to 12 months. According to the feasibility analysis and financial calculation, the project has reached the annual production capacity of 100MW solar polysilicon chips. The annual sales income is 51.225 million yuan and the net profit is 21.67 million yuan. It has a high profit level and strong anti-risk ability.

The implementation of the above-mentioned projects will not only effectively solve the development bottlenecks of land, plant and electricity required for the production and operation of Jinggong New Energy Company, but also reserve space for the expansion of the new energy company's future expansion or technological transformation projects and increase its scale. The profitability lays the foundation, and it will also make the industrial module of Jinggong Technology clearer, promote the rapid growth of Jinggong Technology's solar photovoltaic industry, and conform to the overall development strategy of Jinggong Technology to become bigger and stronger, and benefit the company's long-term strategy. development of.

In order to ensure the smooth implementation of the above projects, Jinggong Technology has set up a project implementation leading group and working team. The project construction bidding work and equipment procurement involved in the project have been started simultaneously.