Vestas Is Entitled To 10% Stake In Inner Mongolia Guang Wei, The Latest Development Of Baotou'S "10000 Ton Carbon Fiber Industrialization Project".

Baotou's "10000 ton carbon fiber industrialization" project (hereinafter referred to as "Baotou project") has attracted much attention from the carbon fiber industry and capital market. Recently, Weihai Guang Wei composite material Limited by Share Ltd (hereinafter referred to as "Guang Wei complex"), Weihai Guang Wei Refco Group Ltd (hereinafter referred to as "Guang Wei Group") and Vestas wind technology (China) Co., Ltd. (referred to as "Vestas") after consultation, in Beijing jointly signed the "Inner Mongolia light Wei Carbon Fiber Co., Ltd." investment letter of intent (hereinafter referred to as "investment letter of intent").

According to the introduction, in July 19th this year, the people's Government of Baotou, Inner Mongolia, the nine yuan industrial park management committee, Guang Wei complex, and Vestas jointly signed the Baotou project agreement in Baotou. The investment amount of the project is 2 billion yuan, and the first phase will build 1 tons of carbon fiber production line of 2000 tons / year. After that, the production capacity of carbon fiber will reach 10000 tons per year based on the construction, commissioning and digestion of capacity. The smooth landing and subsequent commissioning of the project will help to promote the linkage development of Baotou high performance materials industry and facilitate the transformation of related research results of carbon fiber and its composites. The products of the project will be applied in the field of wind power in a large scale. This is not only an important practice of supporting the national strategy for the development of the central and western regions, but also an important measure to achieve low cost and high-end application of domestic carbon fiber.

　　 Chen Liang, general manager of Guang Wei Group, Deng Xiangyang, general manager of Guang Wei complex, Lu Zhaojun, chief scientist Li Shu Xiang, deputy general manager Wang Wenyi, deputy general manager Wang Yingchao, general manager of new energy general materials, Qu Xiaodong, and other guests attended the signing ceremony.

As the main body of the implementation of the Baotou project, in August 29th of this year, Inner Mongolia Guang Wei Carbon Fiber Co., Ltd. (hereinafter referred to as "Inner Mongolia Guang Wei") was jointly invested by Guang Wei Fu and Guang Wei group. Inner Mongolia Guang Wei is responsible for the construction and operation of the Baotou project. It focuses on R & D and production of low cost tow carbon fiber, so as to meet the requirements of raw materials protection for carbon fiber reinforced plastics in the development of light carbon composites, as well as the demand for low cost carbon fiber in the continuous expansion of carbon fiber products in the field of application. It helps to promote the development of the prestige complex products, and also helps to improve the whole industry chain layout, enrich the carbon fiber product line, and further consolidate the leading position of Guang Wei complex in the domestic carbon fiber industry.

　　 Lu Zhaojun, general manager of Guang Wei complex, spoke at the signing ceremony.

According to the new signing of the investment intent letter, Vestas will participate in the investment of Inner Mongolia Guang Wei in the first phase of the Baotou project, and will be granted a 10% stake in Inner Mongolia Guang Wei, corresponding to the registered capital of Inner Mongolia Guang Wei for 10 million yuan. The follow-up investment for the first phase of the project will be borne by the parties in accordance with the proportion of shares subscribed to, but the total investment of Vestas for the first phase of the project will not exceed 45 million yuan.

　　 Mark, chief operating officer of the Vestas group, spoke at the signing ceremony.

　　 The signing ceremony was hosted by Thomas Keller, President of Vestas China.

The letter of intent is an agreement of intent for investment cooperation between the two sides. If it is successfully promoted and implemented, it will further deepen strategic cooperation between Guang Wei complex and Vestas, consolidate the industrial support of both sides, realize resource sharing, reduce investment risks and operational risks of light and prestige complex materials, and promote healthy development of the company. It will provide important support for the capacity digestion of the Baotou project in Inner Mongolia's light and prestige construction projects, and will help Guang Wei compound to actively evaluate and promote the Baotou project's capacity and market, construction planning and rhythm, and further enhance the investment confidence of Guang Wei complex in Baotou project, and promote the smooth implementation of the project.