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VPower Group Enters into Memorandum of Understanding with CITIC Pacific to Co-invest Gas-fired Power Stations in Southeast Asia through Joint Venture

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VPower Group International Holdings Limited (“VPower Group”, SEHK: 1608), one of the leading gas-fired engine-based DPG station investors and operators in Southeast Asia, is pleased to announce that the Group has entered into a memorandum of understanding with CITIC Pacific Limited, a subsidiary of CITIC Limited (stock code: 267), (collectively “CITIC”), to explore the acquisition opportunities on the clean and renewable power generation projects in Southeast Asia, meanwhile jointly invest and develop certain gas-fired power stations in South East Asia through establishing a joint venture company.

Mr. Rorce AU YEUNG, Co-Chief Executive Officer of VPower Group, said, “CITIC Pacific is a cornerstone shareholder of the Group in IPO. The joint venture formation will further strengthen and materialize our strategic co-operation relationship with CITIC. Through the joint venture, we will fully leverage on the expertise, knowhow, financial resources and operation platforms of both parties to capture the substantial market opportunities of power generation market in the low electrification countries covered under the Belt and Road initiatives. Potential acquisitions and co-development are in line with the Group’s overall business development strategies, enabling us to expand our market position in Southeast Asia as well as expand the scope of coverage of our power generation capacities in the fast growing clean and renewable energy sector.”

CITIC Pacific Limited’s key businesses include special steel manufacturing, energy and real estate development. It is also the majority shareholder of Dah Chong Hong Holdings Limited (stock code: 1828) and CITIC Telecom International Holdings Limited (stock code: 1883). The company’s parent company is CITIC Limited (stock code: 267), China’s largest conglomerate operating domestically and overseas.

About VPower Group International Holdings Limited (Stock code: 1608)
VPower Group is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based DPG station owner and operator. The company derives operational synergies between its System Integration (SI) and Invest, Build and Operate (IBO) businesses. Under its IBO business, the company invests in, builds, and operates utility-grade DPG power stations. It is headquartered in Hong Kong and was listed on the Stock Exchange of Hong Kong in 2016 […]

VPower Group Becomes a Constituent Stock in Hang Seng Composite Index and Hang Seng Stock Connect Hong Kong Index

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VPower Group International Holdings Limited (“VPower Group”, SEHK: 1608), one of the leading gas-fired engine-based DPG station investors and operators in Southeast Asia, is pleased to announce its inclusion as a constituent stock in the following index series by the Hang Seng Indexes Company Limited, including 1) Hang Seng Composite Index (“HSCI”) and subdivision of SmallCap Index; 2) Hang Seng Stock Connect Hong Kong Index (“HSHKI”); 3) Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index; and 4) Hang Seng Stock Connect Hong Kong SmallCap Index, with effect from 6 March 2017.

Mr. Rorce AU YEUNG, Co-Chief Executive Officer of VPower Group, said, “The Group is greatly honoured by being included in the Hang Seng Composite Index and Stock Connect Hong Kong Index Series shortly after our listing last November. The inclusion represents recognition by the market of our solid business performance, stock liquidity and growth potential. It is also conducive to the expansion of our shareholder base and further improvement in our stock liquidity. Looking ahead, VPower Group will continue to strengthen the core business and maintain sustainable growth so as to maximise returns to our shareholders.”

HSCI offers a comprehensive Hong Kong market benchmark that covers the top 95% of the total market capitalisation of companies listed on the Main Board of the Stock Exchange of Hong Kong. Adopting the free-float-adjusted market capitalisation methodology, the HSCI can be used as a basis for index funds, mutual funds as well as performance benchmarks.

HSHKI provides a benchmark for the performance of equities listed in Hong Kong that are eligible for trading via China’s southbound trading link of the Stock Connect Scheme. It covers equities eligible for trading via the scheme, with additional liquidity screening to make the covered equities a more investable reference set for mainland China investors.

About VPower Group International Holdings Limited (Stock code: 1608)
VPower Group is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based DPG station owner and operator. The company derives operational synergies between its System Integration (SI) and Invest, Build and Operate (IBO) businesses. Under its IBO business, the company invests in, builds, and operates utility-grade DPG power stations. It is headquartered in Hong Kong and was listed on the Stock Exchange of Hong Kong in 2016 […]