CIMC Cooperated with Yantai State-owned Assets Supervision Committee to Establish CIMC Raffles Marine Technology Group Co., Ltd.

On June 13, 2022, at the fourth anniversary of the visit of General Secretary Xi Jinping to Yantai CIMC Raffles, the unveiling ceremony of Yantai CIMC Raffles Marine Technology Group Co., Ltd. and the investment promotion conference of the ocean engineering industry chain of Yantai were held in Dongshan Hotel . Fu Mingxian, member of the Standing Committee of Shandong Provincial Party Committee and secretary of Yantai Municipal Party Committee, and Gao Xiang, president of CIMC Group, attended and delivered speeches in the event. Zheng Deyan, deputy secretary of Yantai Municipal Party Committee and mayor of Yantai, presided over the event, which was attended by Mou Shuqing, Yu Feng and Wang Songjie, leaders of Yantai City.

In order to implement the guiding spirit presented by the general secretary during the visit with regard to ocean management planning, realize the high-quality development of the marine economy, and accelerate the transformation and upgrading of the ocean engineering industry, CIMC Group and Yantai Guofeng Investment Holdings Group Co., Ltd. signed the Strategic Cooperation Agreement on Joint Establishment of a Leading Platform for the Development of the Deep-sea Industry on June 30 last year. The parties intend to integrate high-quality assets to jointly promote the development of the deep-sea industry.

After nearly a year of busy preparations, Yantai CIMC Raffles Marine Technology Group Co., Ltd. completed its industrial and commercial registration on May 24 this year, with a registered capital of RMB5 billion. CIMC and Yantai Guofeng Investment Holdings Group Co., Ltd. respectively held 83.3% and 16.7% equity interests in the company.

As a leading platform for the deep-sea industry development in Yantai, Marine Technology Group will focus on the development of marine oil and gas, marine protein, marine clean energy and other businesses, and provide overall solutions for the comprehensive exploitation of marine resources.

Arrangement for New Businesses in the Future and Launching of the Offshore Floating Photovoltaic Plan

Wang Jianzhong, president of CIMC Raffles, said that after the establishment of Marine Technology Group, it will fully carry forward the spirit of independent innovation, carry out new future-oriented marine businesses including offshore floating photovoltaics, and play a leading role in the profound marine industry of Yantai.

At the ceremony, the establishment of “Yantai Offshore Floating Photovoltaic Test and Inspection Center ”, “Yantai Offshore Photovoltaic Development Company ” and “Yantai Offshore Photovoltaic Industrial Park ” were declared successively, which marked the official launch of the “10 Million KW Offshore Floating Photovoltaic Project” jointly sponsored by Yantai and CIMC. A 100-billion-level industrial cluster in Yantai will be established to contribute to the goal of “carbon neutrality” in China and even the world.

Marine Technology Group also signed a strategic cooperation agreement with Yantai High-tech Zone Management Committee for the comprehensive development of the offshore photovoltaic industry, and a strategic cooperation agreement on offshore floating photovoltaics with the leading enterprises in the industrial chain, namely Jinko Solar Co., Ltd., Huawei Digital Power Technology Co., Ltd., Fujian Newchoice Pipe Technology Co., Ltd.  and Juli Sling Co., Ltd., thus jointly opening a new chapter for the vigorous development of clean marine energy in Yantai.