GCL and YGE in strategic co-operation framework agreement

HONG KONG: GCL-Poly Energy Holdings Ltd has entered into a strategic co-operation framework agreement with Yingli Green Energy Holding Co. Ltd in Beijing on 20 March 2013.

Both parties will develop a comprehensive strategic cooperation partnership under the principles of faithful cooperation, mutual complementation of advantages, resources sharing as well as equal and mutual benefits, and jointly devote to comprehensive cooperation in accordance with the industrial policies of the PRC and market demand with their respective advantages.

In accordance with the framework agreement which is not legally binding, both parties intend to develop comprehensive cooperation in areas such as division of labour in the industry chain, ancillary production facilities of wafer and supply chain business (polysilicon material/wafer/cell) in the future.

Both parties will combine their respective advantages in research, development and production in the photovoltaic field with an aim to jointly devote to the enhancement of the quality of photovoltaic products and on-going reduction of costs.