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HONG KONG, Oct 29, 2010 - (ACN Newswire) - With the implementation of the 12th five year policy, it is further restated that low carbon economy and green development would be the Chinese government's main focus in the coming five years. It is also expected that new energy and energy-saving industry like solar and electric vehicles market will be beneficial from the policy. China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK), the company being active in the investment and operation of energy management contract(CEM) business, is looking forward to the progress of solar electric car market, in order to match up with the government's policy development.
According to "National Economy and Social Development, the recommendations of Twelfth Five-Year Plan" , the new energy projects is one of the important programs, and solar power has even been listed as one of the seven strategic new industries. As for the auto industry, the 12th five year drafted plan has been scheduled, which is expected to be formally introduced during the year, many experts believe, under the 5-year plan starting from 2011, the environmentally friendly electric cars would be the key development in the market.
China Trends, China Innovation Investment Limited ("China Innovation", Stock Code: 1217.hk) and China Oriental Numerical Control Company Limited, a subsidiary of CNIGC in the PRC, entered into a Letter of Intent earlier. In which, the investee company of China Innovation will provide high efficiency electrical storage technology and products, China Trends will take part in the operation and marketing, while China Oriental Numerical Control will provide numerical control products and related technology. The three parties will work closely to carry out a comprehensive cooperation on new energy numerical control system.
In addition, the three parties agree to use the application of numerical control system in solar electric vehicle with the application of numerical control system at the elementary phrase. China Oriental Numerical Control will provide numerical control products for the investee companies of China Innovation. China Trends will take part in merchandising and operation for the cooperation by mean of CEM with a target of producing 1,000,000 solar electric vehicles. The three parties also agree on establishing a working team based on joint venture (if necessary), technology, product integration and operation model etc. to reach an exclusive partnership arrangement as soon as possible.
The first phase of the proposed development for China Trends would be solar electric vehicles, including the smaller solar electric sightseeing cars and solar golf cars. Solar energy as a renewable energy sources, is the most important basic energy in the world. The mechanism of solar electric sightseeing cars and solar golf cars mainly makes use of the technology of absorbing solar energy through solar panels to generate power, and to enable solar energy vehicles to achieve environmental results.
These solar electric cars can be used as sightseeing transportation, which is suitable in golf courses, large parks, large exhibition halls, residential quarters, and scenic areas.
Contact:
Carmen Lee
Investor Relationship Department
China Trends Holdings Limited
Email: carmen.lee@8171.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Fax: +852 2111 9989
Topic: Business Plan
Source: China Trends
Sectors: Energy, Alternatives, Alternative Energy
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From the Asia Corporate News Network
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