Jiangxi Risun Solar Energy Co., Ltd. China (Mainland)

Jiangxi Risun Solar Energy Co., Ltd. (also named as Risun Solar Technologies) was established as an international joint-venture high-tech enterprise which is dedicated to next generation green energy with the capital of RMB200 million (nearly US$30 Million) already fully loaded on 30th January, 2008. Risun Solar Technologies presents a business opportunity of utilizing advanced solar cell technology to build high efficiency and low cost commercial series solar products including solar cells and modules. Productive capabilities and procedures of factory constructions: 50MW (Mega-Watts) production lines (totally 2 production lines) went online in June of 2008; 100MW in the end of 2008; and 300MW is to be expected in July 2009 and finally will reach the capability of 500MW at the end of 2010. The entire project will adopt rolling snowball methods among different stages of development. It will be perfect balance and synchronization between productions and factory constructions. Our first stage 50 MW project has already passed and another 50MW project is on auditing by the Authority of Xinyu Government. Risun's first two product lines were kicked off on 26th February, 2008. The assessments including business plan, environment report and security report have been successfully finished. The contracts concerning supplies of factory construction and equipment for product lines are being signed; especially those supplement contracts of equipment on product lines have already been successfully signed. Currently, the project has been pre-paid out about RMB50 million (including credits). In the first stage, 50 MW project is operating smoothly. All our equipment is installed in factory in the end of May 2008; and the first product line kicked off in July of 2008. According to our business plan, Risun welcomes first strategic investors with venture capitals in 2009. Risun plans to go to NASDAQ by the end of 2009 to raise company reputation and marketing competitive position.