On August 9, 20服近08, Seiko Technology人雪 held the 5th Board of Directors紅視 in the conference room of the compan山志y. All the directors and sup拍到ervisors of the com制刀pany attended the meeting. The meeting 你不reviewed and ap劇外proved the 2008 Semi-a服頻nnual Report and Summary. Five proposal暗慢s including “Proposal of Zhejiang Jin林鐵ggong New Energ長銀y Co., Ltd.” and “Proposal on Acq他們uiring 70% Equity of Shao兒路xing Solar Energy Technology Co., Ltd金信. held by Zhejiang Jing的草gong Electromechanical Aut吧厭omobile Group Co., Ltd.”.器光

According to the overall development暗行 strategy of the company從可 to enlarge and strengthen the so畫黑lar photovoltaic industry, the comp做短any agreed to build a two-level l們上egal person system of the parent c錢黑ompany, and use the self路舊-raised funds to invest 1業報00 million yuan t車村o establish a wholly-owned嗎作 subsidiary - Zhejiang J呢影inggong. New Energy Co., Ltd也章. is mainly engaged in research and de什少velopment, manufacturing, processing,機銀 sales and technical services of po照金lysilicon solar product藍市s, polysilicon raw materials 家輛and related industry exte鐘地nsion products. It拍懂 is agreed that the通白 company will acquire 70% equity我學 of Jinggong Shaoxing Solar Techn頻妹ology Co., Ltd. held by Zhejiang 西生Jinggong Electromechan兒著ical Automobile Group C內店o., Ltd. through Zhejiang J老在inggong New Energy Co.,還書 Ltd., a wholly-owned subsidi大店ary to be established.

The establishment of the above-mention拍務ed wholly-owned subsidia會線ries and the acquisition of equit員如y will enhance the e票場fficiency of the 看音company's new energy indus生爸try business decision動木-making and oper林子ation, and effectively control東工 the business operation risks; on th門舊e other hand, the 術他company's industr腦在ial modules will be more cl兒家ear, and the comp站不any's solar energy will be further為去 improved. The photovoltaic i那女ndustry chain accele業北rates the development of the 姐自solar photovoltaic industry, enhances 地到the core competitive哥對ness of the company, and 道裡realizes the sustainable developme雜有nt of the company.