About CHYY GP Company

China Hengyouyuan Development Group Co., Ltd. (stock code 8128.HK) is the only Hong Kong-listed company with a large state-owned professional energy saving and environmental protection group enterprise as the single majority shareholder in the field of promoting geoenergy as an alternative heating (cold) energy supply. With the original “constant active single-well circulating heat transfer ground energy harvesting technology” as the core, the company has a full industry chain operation system integrating technology research and development, design consulting, equipment manufacturing, engineering construction, and property maintenance, which can provide complete solutions for heating and cooling energy for different regions and types of buildings. The company has always focused on scientific research and development of shallow ground energy as an alternative energy source for heating (cooling) and the industrialization of the original technology for single-well circulating heat transfer shallow ground energy collection, and has received widespread attention and strong support from all sectors of society, national and local governments, and users at all levels. The company's science and technology industry headquarters, Hengyouyuan Technology Development Group Co., Ltd., has continuously made breakthroughs and innovations in researching and promoting specialized technology of shallow ground energy as an alternative energy source for building heating (cooling), with remarkable results. The Beijing Municipal Standard “Single Well Circulating Heat Transfer Geoenergy Collection Well Engineering Technical Specification”, issued by the Beijing Municipal Bureau of Technology and Quality Supervision, organized and implemented by the Beijing Water Authority and jointly drafted by the Beijing Energy Conservation and Environmental Protection Promotion Association, China Energy Conservation and Environmental Protection Group Corporation, and Hengyouyuan Technology Development Group Co., Ltd. has been implemented since April 1, 2013. The implementation of this technical specification has laid the foundation for the industrialization of the only “third type of footnote 1 geoenergy harvesting technology” original by China in the international community. It has been realized that under any geological conditions, a single-well circulation heat transfer method can be used to heat (cool) buildings by providing sufficient amount of zero-pollution energy for heat pumps. Using shallow ground energy as an alternative energy source for heating (cooling) buildings is an emerging integrated heat and cooling industry based on traditional heating and cooling industries. The “Single Well Circulating Heat Transfer Geoenergy Collection Well Engineering Technical Specification” has also opened up a broad world for the development of this emerging industry, and will surely become an important development driving force for the company to transform its development methods, speed up structural adjustment, and promote transformation and upgrading. The company will always aim to maximize shareholders' interests, and insist on putting equal emphasis on contextual growth and epitaxial development. I believe that under the correct leadership of the board of directors, under the business development model of “specialized company operation and group regional development”, the Group will continuously improve the level of specialization of its subsidiaries, keep abreast of the characteristics of different climatic regions, continuously expand the scope of regionalized development, achieve continuous steady and accelerated development, and strive to become the most competitive new energy enterprise in the field of promoting geoenergy as an alternative energy source for heating (cooling).