On 24?and 25,?August, the Company’s Yuxian second, third and fourth phase CDM projects were successfully registered with CDM EB at the same time. It is expected that the successful registration of these CDM projects may contributeto the CDM revenue of the Company by approximately RMB 29 million each year. Up till now, the Company has an aggregate of?12 CDM projects successfully registered with the CDM EB, with annual revenue of 130 million and 100% success rate.
Yuxian’s fourth phase CDM project, which has been successfully registered before put into operation, is not only another prominent example after the successful registration of Huyuan’s first phase project in 2007, but also reflects the company’s principal of attaching importance to stability, practice and responsibility. Such projects directly produce CER, rather than VER, offsetting a lot of profit loss of the Company. The market price of VER is less than 1/10 of CER.