On May 12, Shi Baofeng, Chairman of the Board of Directors of CR Power, met with Jia Zhenguo, Secretary of the Party Committee and Chairman of Inner Mongolia Power (Group) Co., Ltd., and his delegation in Shenzhen. Both parties had in-depth exchanges on consolidating the existing cooperation and broadening cooperation fields and signed a strategic cooperation framework agreement.

Mr. Shi Baofeng extended his warm welcome to Mr. Jia Zhenguo and his delegation and introduced the basic information, industrial strength and business direction of CR Group and CR Power. In addition, Mr. Shi Baoguo also expressed his gratitude to Inner Mongolia Power (Group) Co., Ltd. for its long-term support and assistance to CR Power. He pointed out that CR Power will further increase investment in the energy and power sectors in Inner Mongolia, hoping that both parties will carry out all-round cooperation in joint operations of "coal-thermal power-new energy", market-oriented grid-connected new energy projects, demonstration projects of consumption bases and photovoltaic generators in the province, independent new energy storage systems and pumped storage power stations, so as to promote the construction of new power systems and boost high-quality development of energy and power sectors.

Mr. Jia Zhenguo expressed his gratitude to CR Power for its long-term support and assistance in developing the power sector in Inner Mongolia, and introduced the strategic goals and development orientation of Inner Mongolia Power (Group) Co., Ltd. He pointed out that both parties should seize the big strategic opportunity for new energy development to carry out practical cooperation in the coordinated development of "power supply-grid-load-storage" and "wind-solar-hydro-thermal power-storage", expansion of new energy application scenarios and construction of demonstration projects, pumped storage and new storage facilities, digital transformation and industrial development and establish a regular exchange mechanism to share various superior resources in all respects, so as to make greater progress in the construction, innovation and demonstration of new power systems and better serve the overall economic and social development of Inner Mongolia.

Inner Mongolia Power (Group) Co., Ltd. is a wholly state-owned super-large power grid enterprise directly under the Inner Mongolia Autonomous Region and the third largest power grid enterprise in China. The strategic cooperation framework agreement signed by both parties covers "Inner Mongolian power" transmission, pumped storage, market-oriented grid-connected projects, shared energy storage and business management and scientific and technological innovation. Both parties agreed to establish mechanisms for high-level and normal communication and project coordination and make every effort to promote strategic cooperation between both parties.

The above activity was attended by Liang Jingkun, Deputy General Manager of Inner Mongolia Power (Group) Co., Ltd., Deputy Chief Economist and heads of relevant departments at the headquarters of the Group, Fan Zhe, Vice President of CR Power and relevant persons in charge of relevant departments at the headquarters of CR Power, CR New Energy, North Region and Inner Mongolia New Energy Company.