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Zhiguang Electric Raised More Capital for Electricity Services

Date: 2016-10-17
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Zhiguang Electric's private placement was completed successfully. It issued an additional 77,784,615 shares and raised RMB 1,516,800,000 yuan. These new shares were listed on the Shenzhen Stock Exchange ("SZSE") on October 13, 2016.
 
After completion of this private placement, Zhiguang Electric has accelerated its business layout of electricity services. Such capital will be mainly used to develop its electricity service business and build an all-around electricity service system. It plans to build a regional electricity service center covering five provinces within the domain of CSPG in three years to provide comprehensive basic and value-added services for more than 10% of specific substation clients and new customers. It will strive to build a smart cloud platform for electricity services and establish the OTO cooperation mechanism. It connects the value chain for online information and off-line services by utilizing Internet technology to create a commercial electricity service pattern of "Internet + Specific Substation Operation and Maintenance".
  
Meanwhile, Zhiguang Electric will also make specific plans to perform the distribution network construction and the research and application on the integrated energy technology regarding distributed energy, microgrid, energy storage and electrified transportation. As a result, it will be able to offer customers integrated solutions for energy supply and application with respect to energy accessibility and scheduling, energy conservation services, power sales, and smart electricity services.
 
This private placement will further solidify and improve Zhiguang Electric's core competitive edges in the integrated energy field and drive the synergistic growth of its primary businesses. Additionally, it will effectively support Zhiguang Electric's strategic transformation, upgrading and development in the next few years.

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