CTDC Holds a Ribbon Cutting Ceremony to Showcase First SnO2 Production LineLast update: 1/3/2008 9:00:00 AMHONG KONG, Jan 03, 2008 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- China Technology Development Group Corporation (CTDC), a provider of clean and renewable energy products and solutions focusing on solar energy business in China, today announced that it held a ribbon cutting ceremony to showcase the first SnO2 production line at China Merchants Zhangzhou Development Zone on December 28, 2007. Accompanied by Mr. Alan Li, our Chairman and Chief Executive Officer, many important government and business leaders including Dr. Yuning Fu, President of China Merchants Group ("CMG"), Mr. Zheng Hu, Vice President of CMG, Mr. Keqing Liu, Secretary General of Zhangzhou Government, Mr. Jianguo Li, Mayor of Zhangzhou City, and Mr. Bin Wu, General Manager of China Merchants Zhangzhou Development Zone, participated in this important opening ceremony. All of participants also had an opportunity to tour CTDC's 129,000 square feet manufacturing facility. The local government officials not only publicly endorsed CTDC's investment in the solar energy sector focusing the China market, they also vowed to provide all necessary government support and other incentives, such as land and grant, to CTDC in the future. This ceremony marks another key milestone for the company to manufacture and sell the proprietary SnO2 base plates, a key component of a-Si (Amorphous Silicon) Thin Film PV products, which can optimize the performance of Building Integrated Photovoltaic (BIPV). BIPV involves solar panels integrated directly into a building's architecture to provide one source of electricity for the building. Amorphous-silicon material is itself semi-transparent and thus is most suitable for transparent modules. "We are honored to have so many government and business leaders to attend the opening ceremony of our first showcase production line, and receive full support and endorsement from them on our new expansion into solar energy business in China," commented Mr. Alan Li, Chairman and CEO of CTDC, "Under the vast investment holdings by China Merchants Group, we are the only platform which focuses exclusively on alternative energy and Green technology development. We fully intend to leverage the abundant resource and support from CMG, our principal shareholder, to become a leader in clean and renewable energy sector in China, and ultimately deliver greater shareholder value." About SnO2 base plate technology: SnO2 solar base plate is a type of transparent conductive oxide (TCO) substrate of amorphous silicon (a-Si) or thin film solar cells. SnO2 thin films have a number of benefits: they are corrosion resistant; have good thermal stability; are of low cost yet have high rigidity; and have excellent photo-electronic properties. SnO2 base plates have a variety of applications in solar cells, liquid crystal displays, gas-sensitive sensors, antifogging devices and electrostatic protection, especially in Low-E glass.
Only a fool would believe that China Merchant Group, the largest shareholder of CTDC, and one of the largest companies in China, is a bunch of crooks. Do your research here and read between the lines. China Merchants Group is creating an alternative energy play via CTDC. These guys are out to make billions, not a couple of pennies. With CMG's tremendous connections in China and worldwide, you could see alot of big deals here in 2008.
As for the failed nutraceutical business, read the SEC filings to see what happened there. It was not due to any crookedness by CTDC. The acquisition just did not pan out. That happens when you take risks.
Key thing here is that China Merchant Group is backing this, just read this and remember it:
"Under the vast investment holdings by China Merchants Group, we are the only platform which focuses exclusively on alternative energy and Green technology development. We fully intend to leverage the abundant resource and support from CMG, our principal shareholder, to become a leader in in clean and renewable energy sector in China"
Yes veddy tricky news from Chinese. They announce a ceremony celebrating the acquisition of a previously announced manufacturing space. There is no equipment or manufacturing line in this empty space. How could there be? They only got the space a month ago. Legitimate solar companies spend years assembling, testing and finally producing solar panels.