IRICO New Energy : VOLUNTARY ANNOUNCEMENT - ALL-OXYGEN COMBUSTION KILNS TECHNOLOGY LEADING THE GREEN MANUFACTURING IN THE INDUSTRY

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彩 虹 集 團 新 能 源 股 份 有 限 公 司

IRICO GROUP NEW ENERGY COMPANY LIMITED*

VOLUNTARY ANNOUNCEMENT

ALL-OXYGEN COMBUSTION KILNS TECHNOLOGY LEADING

THE GREEN MANUFACTURING IN THE INDUSTRY

This announcement is made by the board (the "Board") of directors of IRICO Group New Energy Company Limited* (the "Company") on a voluntary basis.

Air has been being the combustion-supporting medium for mass production of photovoltaic glass kilns. Based on systematic study, it is found that the use of air as the combustion-supporting medium is an important factor leading to high energy consumption, high pollution and high emission in photovoltaic glass production. As demonstrated by experiment, taking oxygen with purity≥85% as the combustion- supporting medium contributes greatly to energy conservation and environmental improvement. Therefore, the system in which oxygen with purity≥85% is used for combustion is called all-oxygen combustion. Compared with traditional combustion- supporting technology, all-oxygen combustion can improve combustion efficiency, consumes less fuels, reduce pollution, and enhance the quality of glass product, which is regarded as an important development trend of glass manufacturing technology in the world.

The Company began to adopt and study the all-oxygen combustion photovoltaic glass production technology in 2010 and has adopted a cryogenic oxygen production technology with a concentration of 99.6% and corresponding combustion technology as well as unique kiln design technology to support combustion in the kiln, and has become the world's largest photovoltaic glass manufacturer adopting all-oxygen combustion technology. The Company is committed to promoting new technological innovation of photovoltaic glass industry, and at the same time, as the standard-setter of all-oxygen combustion technology, the Company expects to lead the photovoltaic glass industry to the sustainable development which is friendly to environment and ecology.

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The Company has the world's largest photovoltaic glass production base with all- oxygen combustion in Hefei, Anhui Province, and has established the world's largest all-oxygen combustion photovoltaic glass monomer kiln in Yan'an, Shaanxi Province, playing as a good model in glass industry in China. The large-scale application of all-oxygen combustion technology has significantly reduced the average energy consumption by the glass industry in China and carbon emission.

The Company has actively expanded the sci-techinnovation platform and constantly promoted the development and application of the technology, equipment, material and new products of the all-oxygencombustion kilns. The Company has made multiple leading technological achievements in the invention and application of the existing all- oxygen combustion photovoltaic glass kilns with a capacity of 750 tonnes, 800 tonnes and 850 tonnes, respectively and their ancillary facilities, and obtained in succession 129 patents for invention and utility model in recent years. The Standard on Limit of Energy Consumption per Unit Product of Photovoltaic Rolled Glass Produced through All-oxygenCombustion Technology 《( 全 氧 燃 燒 工 藝 光 伏 壓 延 玻 璃 單 位 產 品 能 源 消 耗 限 額 標 準》, Super White Embossed Photovoltaic Glass 《( 超 白 壓 花 光 伏 玻 璃》) and other standards the Company took the lead to prepare have been published and implemented. The project of the Company concerning research and development of energy conservation and emission reduction technology for the all-oxygencombustion kilns and the main production line has been accepted and passed by the 2016 Green Manufacturing System Integration Project of the Ministry of Industry and Information Technology of the People's Republic of China. The project of Research and Development and Industrialization of Thin Photovoltaic Glass Technology with All-OxygenCombustion 《( 全 氧 燃 燒 薄 型 光 伏 玻 璃 技 術 研 發 與 產 業 化》) won the second prize of China Electronic (Civilian Product) Scientific and Technological Progress Award in 2019.

The project of Technology and Industrialization of Photovoltaic Glass All-oxygen Combustion Kilns with 750 Tonnes/Day 《( 750 噸/ 日 光 伏 玻 璃 全 氧 燃 燒 窰 爐 工 藝 及 產 業 化》) won the second prize of China Electronic Scientific and Technological Progress Award and the second prize of Technology Advancement Award from the Chinese Institute of Electronics.

The Company adheres to the operation concept of green and low carbon emission for sustainable development all along, and aims to improve energy utilization, reduce pollution and enhance quality. From the view of eco-enviroment protection, the Company has reduced over 0.3 million tons of carbon dioxide emission accumulatively in the past decade, and saved gas and carbon emission by more than 30%, reduced oxynitride emission by 70-80%, further prolonged the service life of kilns and improve quality of photovoltaic glass. In addition, the all-oxygen combustion kilns, equipped with cogeneration technology, can achieve real clean production and completely meet the national development goal of energy conservation, consumption reduction and environment protection for enterprises.

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The all-oxygen combustion technology has become an important technical support for the Company's strategy of thin photovoltaic glass transformation. In the future, the Company will keep to its responsibility as a central state-owned enterprise, build on the core technology in the all-oxygen combustion kilns, and commit to forging itself as a world-renowned green energy service provider, so as to lead the photovoltaic glass industry to high-quality development and promote the solar photovoltaic industry in China to an internationally-advanced new level with low consumption.

By order of the Board

IRICO Group New Energy Company Limited*

Si Yuncong

Chairman

Shaanxi Province, the PRC

19 August 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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