Hongyuan Huifu is the wholly owned subsidiary of Hongyuan Securities, a pilot institution created through a direct equity investment by a China Securities Regulatory Commission-approved broker. Registered in Beijing, Hongyuan Securities (net assets of $2.45B in 2012) was initially established back in 2010 with $49M in registered capital ($81.7M authorized) and provides national, extremely comprehensive, and tirelessly innovative securities brokerage services, bearing robust qualifications for all manner of securities business.
Tapping into thermal byproducts at cement factories, coke plants, and steel mills across China to generate energy from otherwise squandered exhausts, heat, pressures, and steam, will not only help meet government mandates readily, but also provide a massive source of lower-cost electricity. To support the fund’s energy recycling projects, Xi’an TCH Energy Technology Co., Ltd., has also formed a new 90% owned subsidiary, Xi’an Zhonghong New Energy Technology Co., Ltd., with registered capital of some $4.85M and will begin tackling projects enabled by the fund. In addition to this, other key players have entered the arena to support the fund’s activities, with Boxing County Chengli Gas Supply Co., Ltd. (Chengli) and Jiangsu Tianyu Energy and Chemical Group Co., Ltd., (Tianyu) both entering into cooperative agreements with Xi’an Zhonghong over CDQ generation projects.
Both of these first two projects will feature primary CDQ systems, as well as CDQ waste heat power systems, with the Chengli project being a single-unit, 25MW deployment and Tianyu consisting of two units, for a total of 50MW. Momentous times to say the least for CREG, which clearly has a bright future as a developer of customized solutions spanning pressure, heat, and gas to energy technologies, as well as biomass, geothermal, waste-to-energy, and wind for Chinese industry. With this fund established, CREG shareholders now stand poised to benefit mightily off continued project implementations in the future and the company will capture pressure from the Chinese government on industry to optimize resource allocation and reduce pollution, especially in the cement, coke, and steel production sectors, with the same efficiency as they would from a blast furnace.
To learn more about China Recycling Energy, visit www.CREG-cn.com/en
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website
http://www.missionir.com/disclaimer.html
