It is reported that the Academy of Electric Power pre-use self-raised funds of 20,786,500 yuan to acquire the entire equity of Suzhou Guohuan Environmental Testing Co., Ltd. If the acquisition is completed, the Institute of Electric Power will hold 100% of the shares of Su Guohuan Testing Company.

It is understood that the Institute of Electric Power is currently the only independent third-party research and testing institution that can simultaneously engage in the testing of high and low voltage electrical appliances. The proposed Su Guohuan Detection Company is a wholly-owned state-owned company invested and constructed by the Suzhou National Environmental Protection High-tech Industrial Park.

Previously, the third temporary shareholders' meeting of 2012 held by the Academy of Electric Power on October 12, 2012 had reviewed and passed the "Proposal on Cooperation between Companies and Testing and Certification Bodies". In order to make the Institute of Electric Power “bigger, stronger, and better”, the chairman of the board of directors authorized by the shareholders’ general meeting shall not be able to exceed RMB 250 million in the total amount of foreign investment, and choose the right to cooperate with domestic and foreign testing agencies and certification agencies. And its financing borrowings.

According to this proposal, the investment is within the above authorization, and if the investment is successfully completed, the assets of the Academy will be further expanded.