Approval is Made at CPID's General Meeting to Acquire Parent Company's Assets and Amend Annual Cap on Financial Services Connected Transactions

On September 6, 2023, CPID held a general meeting. The meeting was chaired by Mr. He Xi, Chairman and Executive Director of CPID, Mr. Zhou Jie and Ms. Huang Qinghua, Non-Executive Directors, and Mr. Li Fang, Independent Non-Executive Director, attended the meeting on site in Hong Kong, and Mr. Qiu Jiaci and Mr. Xu Hanzhong, Independent Non-Executive Directors, attended the meeting via video. At the meeting, a majority of shareholders voted to approve the acquisition of the parent company's assets and the amendment of the annual cap on continuing connected transactions in financial services.

The acquisition will accelerate the establishment of CPID's position as the flagship listed clean energy company of SPIC, further promote the implementation of CPID's new development strategy, facilitate CPID's high-quality development, optimize CPID's asset structure and regional layout, and enhance CPID's asset quality and profitability.

During the Q&A session, Mr. He responded to shareholders' concerns. The approval of the acquisition fully reflects the capital market's high recognition of CPID's new strategy and transitional development.