China Technology Development Group Restricted Announces New Company Development Approach – the sun into the solar industry. China Science and Technologies will introduce “SnO2 (tin oxide) conductive glass substrate,” production line, production and sales of SnO2 conductive glass substrate.
China Technology Development Group Co., Ltd. (Nasdaq: CTDC hereinafter referred to as “Chinese Science and Technology” or the “Business”) announced the new company improvement approach – the sun into the solar business. As the Chinese government introduced a series of national policy to actively help the development of renewable power, coupled with continued increases in domestic energy demand, China’s solar technology confident that the new organization will develop greater shareholder value and generate higher investment return.
Science and Technologies of China introduced “SnO2 conducting glass substrate,” production line, using a international leader in optical thin film industry – the U.S. Terra Solar Worldwide Inc. R & D technology, its goods SnO2 (Tin oxide) conductive glass substrate is amorphous silicon thin film solar cells need to be the major supplies of raw components. Compared with other solar cells, amorphous silicon thin film batteries far better suited for creating-integrated photovoltaic (BIPV), the light energy into electricity for the constructing energy. China Science and Technologies is the first and only master “SnO2 conductive glass substrate,” production technologies of Chinese businesses, the optical thin film technology is now one of the mainstream technologies industry.
The new company has received the approval of the board and get the firm the biggest shareholder – China Merchants Group’s strong support. China Merchants Group is a national large enterprise groups in Hong Kong, Hong Kong “four Chinese-funded enterprises” one. China Science and Technologies will be held in October 2007 annual shareholders meeting in 2007 to acquire shareholder approval.
China Science and Technology Chairman and Chief Executive Officer Li Yuan, said: “As the China Merchants Group in the North American capital markets, the only representatives of listed companies, we are committed to improving shareholder returns on investment and achieve maximum shareholder worth.”
He added: “We want to tap into a enormous potential for development of new industries, the Chinese science and technology had been the major shareholders of the company’s robust support. We believe that in the near future, we can establish in the field of renewable energy leadership.”