IRICO New Energy : INSIDE INFORMATION - PROPOSED IMPLEMENTATION OF THE PROJECT OF INDUSTRIALIZATION OF ULTRA-THIN AND HIGH-TRANSMISSIVITY PHOTOELECTRIC GLASS AND RESEARCH AND DEVELOPMENT FOR TECHNICAL EQUIPMENT

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彩 虹 集 團 新 能 源 股 份 有 限 公 司

IRICO GROUP NEW ENERGY COMPANY LIMITED*

INSIDE INFORMATION

PROPOSED IMPLEMENTATION OF THE PROJECT OF

INDUSTRIALIZATION OF ULTRA-THIN AND

HIGH-TRANSMISSIVITY PHOTOELECTRIC GLASS AND

RESEARCH AND DEVELOPMENT FOR TECHNICAL EQUIPMENT

This announcement is made by IRICO Group New Energy Company Limited* (the "Company") pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

In order to actively respond to the national strategy of accelerating the construction of an energy-saving society and the sustainable development, give full play to the existing advantages of the Company in photovoltaic glass production, continue to expand the market scale, and further enhance the core competitiveness of the Company, the Company, through making full use of existing industrialized resources and products- based advantages, collaborating with well-known domestic universities and scientific research institutes and closely following the market demand for photoelectric glass production capacity and photovoltaic industry technology iterations, proposed to implement the Project of Industrialization of Ultra-thin and High-transmissivity Photoelectric Glass and Research and Development for Technical Equipment of IRICO (Hefei) Photovoltaic Co., Ltd, which will build a solar photovoltaic glass kiln and supporting production lines with an output of 750 tons/day in the plant of Hefei photovoltaic project phase III, and will carry out the research and development of ultra-thin and high- transmissivity photoelectric glass technology and related domestic equipment.

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After the project is put into operation, the products with thickness specification of

1.6 to 3.2mm can be produced and the coating tempered panel, double-layer coating panel, punching coating back plate and punching screen printing back plate of abovementioned specifications can be manufactured. The project is developed to solve the raw materials supply problems of dual-glass components, double-glass double- sided components, components used in thin and large-scale photovoltaic glass for model 166, 180 and 210 in the market.

At the same time, the project will carry out the research and development for ultra- thin and high-transmissivity photoelectric glass technology and related domestic equipment, specializing in research and development for mass production of thin and large-scale products, which will break the situation that some of the key equipment was monopolized by foreign technology and promote the development of a functional glass market of energy efficiency and environmental protection in China.

The project has successfully passed the evaluation performed by the Science and Technology Committee and Investment Review Committee of the Company. The accelerated implementation of the project is in line with the relevant national guidelines and policies, which will not only promote the economic benefits of the Company, but also bring significant social benefits.

By order of the Board

IRICO Group New Energy Company Limited*

Si Yuncong

Chairman

Shaanxi Province, the PRC

23 July 2020

As at the date of this announcement, the Board consists of Mr. Si Yuncong and Mr. Tong Xiaofei as executive directors, Mr. Fan Laiying and Mr. Ni Huadong as non- executive directors, and Mr. Feng Bing, Mr. Wang Jialu and Mr. Wang Zhicheng as independent non-executive directors.

• For identification purposes only

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