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KONG SUN HOLDINGS LIMITED
江 山 控 股 有 限 公 司
(Incorporated in Hong Kong with limited liability)
(Stock Code: 295)
VOLUNTARY ANNOUNCEMENT
BUSINESS UPDATE
This is a voluntary announcement made by Kong Sun Holdings Limited (the ''Company'', and together with its subsidiaries, collectively referred to as the ''Group'') in relation to the latest business development of the Group.
As at the date of this announcement, the professional staffs of 北京鑫泰綠 能科技有限公司 (Beijing Xintai Green Energy Technology Co., Ltd.*) (''Xintai Green Energy''), an indirect wholly-owned subsidiary of the Company, have officially stationed in and commenced providing maintenance services to 交城明科光伏電站 (Jiaocheng Mingke Photovoltaic Power Station*) (''Ming Ke Power Station''). Ming Ke Power Station is located in Shanxi Province and has a total installed capacity of 60 megawatts.
In November 2019, Xintai Green Energy and 中國金融租賃有限公司 (China Financial Leasing Co., Ltd.*) (''China Financial'') entered into a service maintenance agreement (the ''Agreement'') in relation to providing maintenance services to Ming Ke Power Station. Pursuant to the Agreement, Xintai Green Energy shall provide maintenance services to Ming Ke Power Station, including but not limited to, providing maintenance services to the power station equipment, assigning professional staffs, monitoring the operation of the power station equipment and providing annual operation plan to China Financial. The Agreement is for a term of three years and Xintai Green Energy will receive an annual service fee according to the terms of the Agreement.
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The Company will continue to carry out its solar power plants business and generate revenue from sales of electricity to the power gird companies and provision of solar power plant operation and maintenance services and accelerate the Group's plan for shifting to the asset- light model.
By order of the Board
Kong Sun Holdings Limited
Mr. Jin Yanbing
Executive Director
Hong Kong, 9 December 2019
As of the date of this announcement, the board of directors of the Company comprises two executive directors, Mr. Jin Yanbing and Mr. Deng Chengli, three non-executive directors, Mr. Wu Tak Kong, Mr. Wang Ke and Mr. Jiang Hengwen, and four independent non- executive directors, Mr. Miu Hon Kit, Mr. Chen Kin Shing, Ms. Wang Fang and Ms. Wu Wennan.
* For identification purposes only
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