On June 20, Equipment Manufacturing Department of Ministry of Industry and Information Technology published an announcement and declared the list of the fourth batch of the enterprises fulfilling Specifications and Conditions of Automobile Power Storage Batteries Industry. Far East First New Energy Co., Ltd, a subsidiary of Far East Smarter Energy Co., Ltd. (Abbreviation: Smarter Energy; stock code: 600869), managed to be selected as a qualified company, which suggests that the capability of Far East First in R&D, production and service and the performance of products have ranked at the top of the industry. Obtaining the “permit” issued by the government authorities is doubtlessly a piece of inspiring news for the Company.

The announcement stated that to guide and regulate the sound development of power storage battery industry, Equipment Manufacturing Department of Ministry of Industry and Information Technology recently organized the experts, based on Specifications and Conditions of Automobile Power Storage Batteries Industry, to carry out technical reviews and onsite inspection to the enterprises which had submit applications on line and paper materials and were qualified in preliminary review carried out by the local authorities; hereby the list of 32 enterprises fulfilling Specifications and Conditions of Automobile Power Storage Batteries Industry is published.

In July 2015, with approval of China Securities Regulatory Commission (CSRC), Cai Daoguo, Cai Qiang and Yan Qiu’e, the shareholders of First, Smarter Energy purchased 100% of equity of First by issuing shares and paying cash totally amounting to 1.2 billion Yuan and First became a 100% owned subsidiary of the listed company and was renamed as “Far East First New Energy Co., Ltd”; Smarter Energy, as planned in the strategy, managed to set foot in the fields of new energy power battery, etc.

Since 2009, when it started to get involved in the industry of lithium battery, First New Energy Company has been devoted to R&D, production and sale of high quality lithium batteries, battery cells and new energy power batteries; so far, it has grown into a state level high-tech company with strong operation capability, high level of profitability and outstanding innovation capacity. The Company sells new energy automobile batteries, solar energy storage batteries, wind energy storage batteries, base station storage batteries, etc. The daily output is up to 1 million lithium ion batteries, which makes it the company of the best advantages in producing and selling 18650 lithium ion batteries.

The relevant official of Far East Smarter expressed that Far East First successfully being selected into the list would attract more new energy automobile enterprises to cooperate with First and laid a stable foundation for First to pave the way of new energy system service supplier; in addition, it’s a piece of inspiring news for Smarter Energy to promote strategic profound exploration of industry chain of smarter energy.