Jun Yang Solar Power Investment announced that its wholly -owned subsidiary of High intended to October 11 after trading hours entered into a joint venture agreement, joint venture parties have conditionally agreed to establish a joint venture to set up separate companies and foreign- owned enterprises in Hong Kong .

Under the joint venture the parties intended that the JV Company will comply with the relevant laws / regulations of the premise, through an indirect wholly-owned foreign enterprise in China for lending.

In addition, the joint venture company will inject cash in two stages , but each stage injection and reached below shall  solar grid tie inverter satisfy the conditions precedent referred to . Are responsible for the high Italian first injection and second injection , respectively, by means of which the Group's internal resources and / or borrowings and / or future fund raising activities .

Among them, the first capital injection will amount to 37.8 million yuan , while the high agreed to inject 14,742,000 yuan ; addition , the second capital injection will amount to about 340 million yuan , the high agreed to inject about 132 million yuan , agreed to its high capital ratio 39% owned joint venture interests .

Under the joint venture agreement , the joint venture company in which a shareholder Yat crown sungoldpower , will be assigned to assist the Joint Venture Company and the Hong Kong company, the relevant Chinese government departments to apply for the relevant licenses and permits , allowing wholly foreign-owned enterprises in China lending.

The Directors believe that the development of Chinese financial lending business has vast potential , and that through a joint venture agreement with the joint venture partner , the group may be after the establishment of wholly foreign-owned enterprises , the Chinese financial lending business investment funds, to meet one of the principal activities of the group policy .