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On April 14th, the President of the Agricultural Bank of China, Fu Wanjun, along with his delegation, visited our company. Huang Wenzhou, Secretary of the Group Party Committee and Chairman, provided a detailed introduction of the company's industrial layout and business development to President Fu Wanjun and his delegation. President Fu Wanjun expressed the intention to leverage the strengths of the Agricultural Bank of China and further deepen the cooperation between the two sides in various areas, including supply chain business, investment banking, and international business, to promote mutual development.

On August 2, 2023, the Fortune Global 500 list was released, and C&D Group ranked 69th, rising 8 places from its position in 2022. This marks the company's seventh consecutive year on the list.   C&D Group's main businesses currently include supply chain operations, urban construction and operations, tourism and exhibitions, healthcare, and investments in emerging industries. It owns two A-share listed companies (C&D Co., Ltd. 600153.SH and C&D Hengcheng Co., Ltd. 603909.SH) and three H-share listed companies (C&D International Holdings Limited 01908.HK, C&D Property Services Holdings Limited 02156.HK, and C&D Xinsheng Holdings Limited 00731.HK). The group also has investments in other enterprises, such as a 50% stake in Junlong Life Insurance and a 34% stake in Xiamen Airlines.   In the future, C&D Group will continue to adhere to the guidance of Xi Jinping's thought on socialism with Chinese characteristics for a new era. It will persist in driving development through reform and innovation, actively explore the path of high-quality development for the enterprise, and make greater efforts to contribute to the realization of a Chinese-style modernization.

The significance of Power Purchase Agreements (PPAs) for businesses is steadily growing. As a central component of the future European market design, PPAs offer companies the opportunity to strengthen additional investments in the energy transition, mitigate price risks, and support the decarbonization of production. The Renewable Energy Market Offensive reveals the key areas that need to be addressed now to rapidly and robustly develop the PPA market in Germany.   Berlin, July 10, 2023. Power Purchase Agreements (PPAs), also known as "green power supply contracts," enable companies to purchase renewable energy directly from producers at a pre-agreed price over the long term. This not only strengthens additional investments in the expansion of renewable energies but also provides planning security for the producers. The reform of the European electricity market aims to structurally strengthen the PPA market. PPAs are intended to become a central source of financing for renewable energies. Member states are called upon to actively support this market development.   The impetus paper "Green PPAs in Germany: Where are we and what needs to be done now?" of the Renewable Energy Market Offensive shows the current state of the market and the timely impulses that must be set for green and cost-effective electricity. In their paper, the Renewable Energy Market Offensive identifies nine central action areas in the fields of market design, investment security, and business models that must be addressed to strengthen the energy transition and transformative industrial policies.   Tibor Fischer, Head of Renewable Energies at the German Energy Agency (dena) and spokesperson for the Renewable Energy Market Offensive, states: "PPAs are a key instrument for companies aiming for a sustainable and climate-friendly energy supply. It is now crucial to set the right market signals and make clear accents for market-driven expansion. Our impetus paper shows what has been achieved so far and which central measures can quickly strengthen the business model."     Market Design: Strengthening the PPA market through rapid implementation of EU requirements The upscaling of the PPA market depends on a comprehensive framework and the interplay of supported expansion. To strengthen the PPA market, the EU funding requirements must be implemented quickly. It is essential to ensure that the interaction with the existing market premium models and future Contracts for Difference (CfDs) does not weaken PPA marketing. Also, regarding the possible introduction of a bridge and industrial electricity price, market-driven expansion must not be jeopardized, and necessary capital must not be withdrawn from the PPA market.   Investment Security: Tax incentives and minimizing default risks From the perspective of investing companies and the current economic framework, it is essential to quickly receive tax incentives for investments while minimizing the risk of payment defaults. With regard to the mandatory financial reporting for many companies, it should be clarified that physical PPAs are considered financial derivatives permanently. In the long term, the current regulations for virtual PPAs should also be adapted at the European level.     Business Models: Promoting local power supply contracts Concerning specific business models, it is crucial to strengthen pooling models and local generation and consumption communities, establish origin certificates as a value component for producers and consumers, and minimize transaction costs by developing market standards, including for smaller market participants. Particular attention should be given to incentivizing local power supply contracts, for example, through lower grid fees.  

Berlin, March 21, 2023. The German Energy Agency (DENA) has today released an impetus paper that demonstrates how local, grid-bound energy infrastructures can meet the transformation towards climate neutrality. The paper was developed as part of the DENA Practice Dialogue on Integrated Energy Infrastructures, conducted by DENA in collaboration with EWE NETZ, Rheinische NETZGesellschaft, Stadtwerke München, and Stromnetz Hamburg. "The Practice Dialogue on Integrated Energy Infrastructures highlights the importance of forward-looking and coordinated planning of local networks for electricity, gas or hydrogen, and heat to achieve climate neutrality. Local energy network planning and regional energy scenarios are of great significance in this regard," says Andreas Kuhlmann, CEO of DENA. "Close integration of planning for different networks and coordination with municipal heat planning on the one hand and system development strategy on the other is crucial for the transformation of local infrastructures. Now it is important to create structures for cooperation among stakeholders."   The transition to climate neutrality requires significant changes and adaptations in energy infrastructures. Particularly at the local level, extensive electrification of heat supply and transportation, as well as the transition to climate-neutral energy carriers, necessitate significant adjustments to various energy networks. This includes the extensive expansion of electricity grids to integrate new consumers and renewable energy generation. While gas networks can be partially transitioned to use hydrogen, they will particularly undergo significant transformation at the distribution network level. Heating networks, especially in urban areas, require substantial expansion and decarbonization.   The necessary adjustments to networks present considerable challenges for network operators and municipalities. Investments in energy distribution networks are long-term assets for companies and require coordinated planning and implementation at the regional and local levels. Additionally, the stakeholder landscape in electricity and gas distribution networks, as well as in the heating network sector, is highly heterogeneous; different actor constellations and non-overlapping network areas further complicate targeted exchange. The Practice Dialogue has shown that a successful transformation requires clear target images for future energy supply at the local level, as well as a regulated exchange process between different network operators and municipalities. This allows for a coordinated and integrated planning of local infrastructures.     As part of the Practice Dialogue, five proposals were developed to enable the planning and implementation of necessary infrastructure adaptations: Regional energy scenarios can bridge national strategies and planning instruments such as the system development strategy with local instruments like municipal heat planning. Local energy network planning should complement the important instrument of municipal heat planning and expand it to encompass a cross-sectoral local strategy for the transformation of grid-bound infrastructures. This can establish binding transformation plans for local infrastructures. Establishing an energy coordination office within municipal administration can bring together responsibilities distributed among various specialized authorities, enabling efficient and integrated planning and implementation with network operators. Flexible electricity demand can optimize electricity grid expansion and make network operations more efficient. This requires advancing the digitization of distribution networks and creating the regulatory framework to activate flexibility potentials. The current regulatory framework for network operators must be further developed to enable sustainable network planning. Firstly, forward-looking planning should be better incentivized. Secondly, timely and appropriate solutions for the transformation and possible decommissioning of parts of the gas distribution network, along with their financing, need to be found.

SAN JUAN, PUERTO RICO— The U.S. Department of Energy (DOE) today announced up to $453.5 million from the Puerto Rico Energy Resilience Fund (PR-ERF) aimed at increasing residential rooftop solar PV and battery storage installations across the region, with a focus to reach and support Puerto Rico’s most vulnerable residents. This round of funding will provide consumer protection and education initiatives to support residents’ long-term use of solar systems as well as a Solar Ambassador Prize for community groups to help the Department identify and connect with eligible households – helping achieve Puerto Rico and President Biden’s goal of lowering energy costs with a resilient grid powered by 100% renewable energy.     “A future powered by renewables will offer the residents of Puerto Rico more energy security and more reliability—all while leaving households with cheaper bills to pay,” said U.S. Secretary of Energy Jennifer M. Granholm. “DOE is using every tool at our disposal to expand access to clean energy, especially for the communities most at risk, giving families the peace of mind knowing that their communities are resilient in the face of the climate crisis.   The Puerto Rico Energy Resilience Fund (PR-ERF)   In December 2022, President Biden signed the Fiscal Year 2023 Consolidated Appropriations Act into law, which included $1 billion to establish the PR-ERF to enhance energy resilience for Puerto Rico’s most vulnerable households and communities and help the Commonwealth meet its goal of 100% renewable energy by 2050. The development of the PR-ERF has relied heavily on local collaboration and feedback, including a formal Request for Information (RFI) released in February 2023, as well as Secretary Granholm consistent engagement with residents and stakeholders in the region consisting of strategic meetings, townhalls, and community listening sessions.     Today's funding opportunity announcement, which is the first available through PR-ERF and totals $450 million is designed to incentivize the installation of up to 30,000–40,000 solar PV and battery storage systems for very low-income single-family households that are either:     Located in areas that have a high percentage of very low-income households and experience frequent and prolonged power outages; or With a family member with an energy-dependent disability, such as electric wheelchair users or individuals who use at-home dialysis machines.   Potential applicants may include private industry, non-profit organizations, energy cooperatives, educational institutions, and State and local governmental entities. Funding will also support consumer protection efforts to provide residents receiving solar PV and battery storage installations with ongoing system education, training, and consumer protection support.