On August 27, 2008, Seiko Technology held the 16th meeting of the 3rd Board of Directors by means of on-site and communication voting. The meeting reviewed and approved the transfer of 80% equity of Hubei Jinggong Technology Co., Ltd., and invested in Jiangxi Xuyang Lei Di High-Tech Co., Ltd., regarding the acquisition of Zhejiang Zhongqing Holding Group Co., Ltd. related assets, etc., this is Seiko Technology's establishment of a wholly-owned subsidiary "Zhejiang Jinggong New Energy Co., Ltd., the acquisition of Jinggong Shaoxing Solar Technology Co., Ltd., After strategic cooperation with Jiangxi Xuyang Reddy High-Tech Co., Ltd., another important measure to expand and strengthen the overall development strategy of the solar photovoltaic industry marks that the company has entered a substantial stage in the solar photovoltaic industry. It fully demonstrates the determination and confidence of the company to become bigger and stronger in the solar photovoltaic industry.
According to the resolutions of the meeting and the company's overall development strategy, the company will complete the above-mentioned equity transfer, investment and asset acquisition with the wholly-owned subsidiary Zhejiang Jinggong New Energy Co., Ltd. as the development platform and investment entity. Accelerate the pace of industrial transformation of the company, promote the development of the company's solar photovoltaic industry, improve the company's solar photovoltaic industry chain, and enhance the core competitiveness of the company.