PRESS

2007-08-02

Hong Kong Pharmaceutical Distribute and Subscribe New Shares For Wind Power Oper

    On 1st Aug 207, the Hong Kong Pharmaceutical  distribute 460 million shares at HK$1.2/share, and raise funds about HK$536 millions, the company plans to utilize the net amount to develop wind power operation, includes purchase and develop wind power project and other wind power related operations, or establish new wind power related operation.

   The company plans to increase four wind power projects, with total investment of 1.6 billions rmb; increase eight wind power projects which investment not less than 3 million rmb, total investment at least 4.6 billion. Our group occupy half of the total share, with 1/3 own funds, rest funds will from bank’s support.Moreover, the Group will have 13 wind power plant in total at the end of the next  year, except Changtu, the newly founded 12 wind power plants will be locate at Jilin, Inner-Mongolia, Liaoning. Each power’s capacity will be50MW,budgeted total capacity at the end of next year is 600MW, and the 12 new wind power plants will put in operation in two years, which include one year wind testing. Most of the wind power plants has done the wind resource assessment, we forecast at least two or three wind power plant will put in operation at the year end. According to last year’s measurement, full burthen hour is 2000 hours, capacity for each turbine is 50mw, total generation is about 100 million kw/h, therefore we believe the company will bring very good return in the following year.

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