China Resources Power and Black Spade Capital sign a strategic joint venture cooperation agreement; teaming up to create an environmentally friendly world

With environmental protection in mind and capitalizing on the competitive edges of each side, the two companies join force to diversify new energy businesses and promote the green world, expanding into the new energy market in the Greater Bay Area

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HONG KONG, CHINA - Media OutReach - 21 January 2019 - China Resources Power Holdings Company Limited (“CR Power“; stock
code: 836.HK) and Black Spade Capital
Limited (“Black Spade“)
held a joint venture cooperation agreement signing ceremony at the headquarter
of CR Power, initiating the cooperative relationship based on the shared belief
of serving the communities by the formation of China Resources Black Spade New Energy Limited (“CR Black Spade“).
The new company, which will be jointly owned and funded by both sides, aspires
to promote new energy development and to fulfil its social responsibilities as
a good corporate citizen.

A signing ceremony between Black Spade Capital Limited and China Resources Power Holdings Company Limited on establishment of strategic joint venture cooperation agreement between both parties. 

Front row: 
Ms Wang Xiaobin, Executive Director and Chief Financial Officer and Company Secretary of China Resources Power Holdings Company Limited (Left)
Dr Dennis Tam, President and CEO of Black Spade Capital Limited (Right)

 

CR Power and Black Spade pledge to commit their own resources, database
and projects to the joint venture. Riding on the competitive advantages of both
sides, CR Black Spade is determined to capture an abundance of business
opportunities in the sector, which in turn enhances value and creates a win-win
situation for both companies.

 

With the rapid development of new energy, CR Black Spade will primarily
focus on the Greater Bay Area at present and target at a series of new energy
businesses, including photovoltaics, waste recycling and the application of
advanced technologies, through a close and seamless cooperation between the two
partners. The joint venture aims at developing the Hong Kong and Macao market
as its first step and strives to promote sustainability to both cities.

 

CR Black Spade will take an active role in identifying and investing in
innovative projects with environmental protection, developing clean energy and
low-carbon consumption as its core objectives. Despite of new challenges, the
company will undertake the mission and responsibility of protecting the ecology
and envisages to further advance the development of new energy to create a
greener environment around the globe.

 

About CR
Power

China Resources Power Holdings Company Limited
(“CR Power”) was founded in August 2001. As a Hong Kong listed
flagship subsidiary of China Resources Holdings Company Limited, CR Power is
one of the most efficient and most profitable integrated energy companies in
China. Its businesses cover power generation primarily in thermal, wind,
hydroelectric, and solar energy, as well as distributed energy and sales of
electricity. CR Power has been listed on the Main Board of the Hong Kong
Stock Exchange since November 2003 (stock number: 836.HK) and became a
constituent stock of the Hang Seng Index in June 2009. As at the end of 2017,
CR Power’s total assets amounted to HK$220.972 billion (US$28.3 billion) with
an attributable operational installed capacity of 36,077 MW covering 28
provinces, municipalities and autonomous regions in China.

 

About Black Spade Capital Limited

Black Spade Capital
Limited is an established family office managing the private investments of Mr.
Lawrence Ho. Headquartered in Hong Kong, its global portfolio consists of a
wide spectrum of cross-border investments as it consistently seeks to add new
projects and opportunities to its investment mix. Black Spade’s investment
strategy maximizes coverage of geographic regions and sectors whilst
maintaining a portfolio of diversified asset classes, ranging from equity,
fixed income, medical technology, leisure and culture, green energy, real
estate to Pre-IPO investments.