Jiang Xipei Invited to Attend the Qinghai Fair and Received by Meng Hai, Governor of Haixi Mongolian

    The 18th China Qinghai Green Development Investment and Trade Fair (hereinafter referred to as “the Qinghai Fair”) was held in Qinghai from June 20 to 23. At the invitation of Meng Hai, Deputy Party Secretary and Governor of Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province, Jiang Xipei, Founder as well as Board Chairman and Party Secretary of Far East Holding Group Co., Ltd. attended the Qinghai Fair. On the evening of June 19, the two parties convened a meeting to conduct comprehensive discussion about the future affairs, including the implementation of cooperation. Besides, Duan Dongping, Vice Governor of Haixi Mongolian and Tibetan Autonomous Prefecture, Zhou Jianzhong, Researcher of Development and Reform Commission of Haixi Mongolian and Tibetan Autonomous Prefecture, Zhou Xinlong, Head of Industry Development Department of Pilot Zone Management Committee of Haixi Mongolian and Tibetan Autonomous Prefecture and other personnel participated in the reception. Wang Zheng, Board Secretary and Supervisor of Trading Center of Far East Smarter Energy Co., Ltd. (hereinafter referred to as "Smarter Energy", stock code: 600869) and Pan Xiaolu, an investor, Marketing Director of Smarter Energy and Senior Director of Far East Cable Co., Ltd. also attended the meeting.

Jiang Xipei has an informal discussion with Meng Hai.

    During the meeting, Meng Hai introduced the related situation of Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province. Based on rich mineral resources and the strategic objectives determined by Haixi Mongolian and Tibetan Autonomous Prefecture: developing hundred billions yuan of lithium industrial cluster, ten million KW level industrial cluster for new energy and hundred billions yuan of new material industrial cluster; developing ten million ton level industrial cluster of crude oil reserve and oil and gas chemical industry, as well as hundred billions yuan of industrial cluster for characteristic creatures, “We hope to introduce enterprises for merger and acquisition based on the strategic objectives.” According to Meng Hai, the Far East Group could be involved in such objectives from dozens of aspects, such as mineral resources integration and new energy development & use. He noted that the local government would provide the best support and cooperation for the settled enterprises to complete all the work properly.

    Jiang Xipei introduced the development of Far East during the meeting. According to his introduction, the company was established 32 years ago and now it has become a leading enterprise in the field of smart energy. In terms of the scales of production and sales, the cable business of the company has always ranked first for several years in China, and Far East Cable Co., Ltd. is the only enterprise that has won the “National Quality Award” in the industry. With Shanghai Intelligence Power Engineering Co., Ltd., a top private power design institute in China with Class-A design qualification, Far East Group is actively engaged in the planning and design of energy projects and the EPC field as well as the layout of distributed generation terminal. Besides, by merging Beijing SEMEUREKA Electrics Co., Ltd., an advantaged company at the operation & maintenance service and with the capabilities for the primary and secondary equipment integration like fault detection and data analysis, the Far East Group has entered the intelligent operation & maintenance field of the energy projects, so as to perfect the layout of power distribution terminal. For the energy storage equipment terminals, Far East Group can rely on the Far East First New Energy Co., Ltd., a China's first and the world's third triplets 18650 lithium battery products and solutions provider. Based on the advantages and foundation of lithium battery, the Far East Group has established a joint venture, namely the Ditelv Electric Vehicle Co., Ltd. with Detroit Electric Holding Limited and Yixing Industrial Park for Environmental Protection Science & Technology.

    Seven years ago, Far East Holding Group started to build “one network and two platforms”, namely the cable network, Maimaibao and Far East Material Trading Center. The company also established Far East Trading Pay Network Co., Ltd. for the layout of a vertical e-commerce platform.

Under the strategic orientation of “main business + investment”, the Far East Group sticks to a “two-way” method to expand its business. On the one hand, it constantly expands its businesses based on smart energy (its main business) and it has become the market leader in several fields. On the other hand, it achieves epitaxial development through different ways like merger and acquisition. According to Jiang Xipei, Far East is looking forward to strengthening the exchanges and cooperation with Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province in relevant fields, so as to achieve mutual benefits.