United Photovoltaics : PV's 2016 Electricity Generation Volume Rises 56% Y-on-Y

(Hong Kong, January 12, 2017) - United Photovoltaics Group Limited ('United PV' or the 'Company', together with its affiliated companies, the 'Group', stock code: 00686.HK, whose largest shareholder is China Merchants New Energy Group 'CMNE') is pleased to announce that the aggregate volume of electricity generation for 2016 has reached approximately 1,341,993 KWh, with a significant year-on-year growth of 56.09%.

As China's largest pure solar power plant investor and operator, United PV is committed to development and acquisition of high quality solar power plant around the world, applying cutting-edge technology to power plant management and operation efficiency. During the year, while the Company's existing power plants operate stably, the newly acquired or developed power plants also made great increasing contribution to the overall power generation, of which the plants in Mongolia and Qinghai Province contributed a large power generation, taking up 39% and 23% respectively in total generation. Substantial increase in power generation will effectively improve the Company's cash flow as well as increase the electricity sales revenue. As of 31 December 2016, most of the power plants under the Group have been included in the National Renewable Energy Subsidy Catalogue (the 6th Batch) with received subsidies amounting to RMB500 million. The outstanding subsidies will be issued in succession.

With the increasing power generation, the social benefits brought by United PV have also become prominent. The 1,341,993 KWh solar power generation can meet the demand of a full year electricity use of nearly 750,000 households, which is equivalent to save 440,000 tons of standard coal, reduce 1.15 million tons of carbon dioxide emission or 671 tons of soot emission; also approach to reduce 11,000 tons of sulfur dioxide emission or 10,000 tons of nitrogen oxides emission, equivalent to an increase of 62.92 million vegetation planted. United PV has been playing a significant role in response to climate change and to promote green clean energy.

With environmental problems deteriorating day by day, the world has laid eyes on green clean energy. In China, with the urgency of solving smog pollution, it has become a consensus to limit fossil energy consumption. At the 14th meeting of the Central Leading Group for Financial and Economic Affairs held at the end of 2016, President Xi Jinping stated clearly to make use of clean energy as much as possible, since clean-energy heating is the key to the reduction of haze days. Based on that, the revolution in energy production and consumption has arrived, it is also the responsibility and opportunities for United PV.

As an international platform integrating global new energy recourses, as well as the national namecard of China's energy transition, United PV has been making great contribution to dealing with climate change through real action to be in line with its commitment to environmental protection and green developments. United PV is looking forward to integrating all kinds of social resources including government, enterprises, financial institutions and all kinds of social entities through construction and promotion of solar power plant, so as to deeper the significance of green development in the society, and realize the goal of 'Sustainable Energy for All' in the near future. In the meantime, United PV is the first solar power generation company which discloses its quarterly electricity generation volume data on the HKEx, and insists to announcing such key operating data. Looking forward, United PV will continue to play the role as a 'Top Runner' to lead the healthy development of the industry.

Details of the aggregate volume of electricity generation in Q4 and full year 2016