On February 18, 2020, Beijing Energy Holding Co., Ltd. (hereinafter referred to as "Beijing Energy") regarded Beijing Energy Investment Holding Co., Ltd. (HK) (hereinafter referred to as "Beijing Energy HK") as investment entity to subscribe additional 7.177 billion shares issued by Panda Green Energy Group Limited (hereinafter referred to as "Panda Green"), which hold 32% shares and became the largest shareholder of Panda Green.

 

Entrusted by Beijing Energy, Jin Rui provided integrated legal services for the subscription of additional shares. Jin Rui lawyers team has participated in many important negotiations on the subscription issues, and is responsible for conducting legal due diligence, drafting and reviewing relevant legal documents. Jin Rui lawyers' serious, professional, dedicated, and efficient working attitude and ability have been greatly praised by client and other intermediaries.

 

Beijing Energy will greatly improve Panda Green's financial and operation capabilities to achieve a win-win situation after being the largest shareholder of Panda Green. Beijing Energy has leading expertise in wind power and photovoltaic development. As the strategic investor of Panda Green, Beijing Energy will provide design and technical support for Panda Green's future photovoltaic development projects. After the subscription is completed, the installed capacity of clean energy of Beijing Energy will reach 11GW.

 

Beijing Energy is a comprehensive energy service company that main business includes "electricity production and supply, heat production and supply, coal production and sales, real estate development and management, and property management", which is the state-owned enterprise managed by State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality with 20.4 billion yuan registered capital. After years of capital accumulation and asset integration, a large energy pattern of coal, electricity and heat integration has been formed. Beijing Energy previously held four listed companies' shares separately Beijing Clean Energy (00579.HK), Beijing Energy Power (600578.SH), Haohua Energy (601101.SH), and Beijing Energy Real Estate (600791.SH).