Join hands with U.S. Aeti to develop new energy business

Jin Zhi Technology (002090) recently with American Electric Technologies　　Inc. (referred to as Aeti) after substantive discussions and consultations signed a memorandum of understanding, agreed to integrate the resources of both sides to form a joint venture to jointly develop the Chinese market and other related markets.　　Jin-Zhi Technology said that the cooperation with AETI will focus on the use of Aeti in the solar inverter and wind power converter technology, production and sales of renewable energy products specifically applicable to the market in China, in favor of the Jin-chi technology in China's new energy sector to seek greater development. At present, the two sides of the proposed joint venture enterprise registered capital of about 5 million U.S. dollars, investment ratio of 60%,aeti accounted for 40%.　　It is reported that Aeti is a listed company in the U.S. Nasdaq Stock Exchange (stock code: AETI), a registered location for Houston, the company has the design and manufacture of solar inverter and wind power converter products of advanced technology, is for traditional energy and new energy to provide customized electrical transmission solutions excellent suppliers. The proposed joint venture aims to produce products for renewable energy sources, including solar inverters and wind power converters, based on technology developed by Aeti, the announcement showed.　　The name of the proposed joint venture company is to be determined at Nanjing Jiangning District. Jin-Zhi Technology, said the company in the field of power automation has a strong technology, product advantages and engineering (blog) experience, and actively explore new energy opportunities for development.　　Jin-chi technology Power automation products have been in domestic wind farms, photovoltaic power plants have been applied, the company in the first half of this year in Bulgaria Betapark investment 2MW photovoltaic power station has been successfully connected to the operation, in July in California set up a wholly-owned subsidiary specializing in solar energy industry-related investment. The announcement indicated that the above cooperation matters are still in the intention stage, the final two sides can sign the formal cooperation agreement or the contract still has the uncertainty, the MOU implements and the implementation process has the possibility of the change.