IRICO Group New Energy Company Limited announced that, on 1 March 2021, the IRICO Shangrao ultra-thin and high-transmissivity photovoltaic glass project (the "Project"), as one of the major projects, was officially commenced at the mobilization meeting held in Jiangxi Province for promoting the commencement of construction of major projects and for encouraging various projects at the provincial, municipal and county levels. As one of the strategic emerging industries under the "14th Five-Year Plan" of China the new energy industry is making robust progress and will make great achievements in the future. The Company is currently sparing no efforts to implement the corporate mission of "providing China with strategic and advanced material products and solutions", and fully implementing the strategic layout of the photovoltaic glass sector based on the principle of high-quality development. It has established several photovoltaic industrial bases in Hefei, Yan'an, Xianyang, etc., the technology and production capacity of which are at the forefront of the industry. The commencement of construction of the Project is a major initiative for the Company to seize the market opportunities and expand its global top three production capacity scale of photovoltaic glass. The Project will construct ten photovoltaic glass furnaces and the supporting deep-processing production lines in three phases in the Economic Development Zone of Shangrao. Three production lines will be constructed in the first phase and will be commenced in the first half of 2022. The completion and operation of the Project will further strengthen the Company's advantages, and consolidate its strength to participate in international competition, laying a strong foundation for the high-quality development of the Company. Meanwhile, it is of great significance to help enrich the photovoltaic industry chain in Shangrao and build a 100 billion photovoltaic industry group.