The board of Directors of Concord New Energy Group Limited to announced that on 9 April 2018, Haotai New Energy Equipment Ltd. and MingYang Smart Energy Group Co., Ltd. entered into purchase contract regarding the purchase of wind power electricity generation equipment amounting to a total consideration of RMB 178,000,000 (equivalent to approximately HKD 221,610,000) and RMB 125,400,000 (equivalent to approximately HKD 156,123,000) by the Group from the Supplier for the wind farm project of the Group in Hubei province and Anhui province, the PRC. The Supplier is an Independent Third Party. The Company is principally engaged in (i) investing in wind and solar power projects and (ii) offering professional technical services and integrated solution to the wind and solar power generation projects. It is in the ordinary and usual course of business of the Group to build wind power plants in the PRC, including, among other project, the subject projects in Hubei province and Anhui province, the PRC. The purchases of the machinery and equipment from the Supplier under the Purchase Contract represent part of the Group's ordinary investments in its wind power projects.