Hanergy Thin Film Power Group Limited announced that the Group has entered into a sales contract and a service contract with Macrolink New Resources Holding Company Limited, whereby it agrees to sell Macrolink New Resources certain production line equipment for Business Integrated Photovoltaic Business (BIPV) at a total capacity of 600MW with a total price of USD198 million, and to provide technical services with respect to this production line equipment for total service fee of USD462 million. The contracts will bring the Group a considerable income of USD660 million in total.

Meanwhile, the Group has entered into a subscription agreement pursuant to which the Group will allot and issue to Macrolink New Resources 1.5 billion new shares, which will represent approximately 3.48% of the enlarged issued share capital of the Group. The subscription price is HK$3.64 per subscription share and the net proceeds of the subscription will be approximately HK$5.46 billion, which is intended to be used for the general corporate and working capital of the Group and for future investment and development of the Company when opportunities arise.

Hanergy Thin Film Power indicated that the sales contract and service contract between the Group and Macrolink New Resources will bring considerable income to the Group and the subscription agreement will incentivize Macrolink New Resources to establish a long-tern business relationship with the Group and to become a long-term partner of the Group.