News Article | May 8, 2017
SEOUL, SOUTH KOREA / ACCESSWIRE / May 8, 2017 / Leo AIC Co., Ltd. ("Leo AIC"), a subsidiary of Leo Motors, Inc. (OTCQB: LEOM), has signed a joint venture agreement with Lan Zhou Xinqu Zhonghan Chanye Jingji Fazhan Gongsi Co., Ltd. ("LZC") to set up a Joint Venture Company ("JVC") in Lanzhou City in Gansu Province in Northwest China to develop, manufacture, and sell smart street lamps and products for a smart city. The initial investment of the JVC is 100,000,000 Chinese Yuan, or approximately $14.5 million. LZC will contribute 51,000,000 Chinese Yuan for 51% of the JVC, and Leo AIC will contribute 2,000,000 Chinese Yuan and its proprietary technologies for 49%. Contributing technology from Leo AIC was evaluated as 47,000,000 Chinese Yuan by contractors, and will be officially evaluated by an Evaluation Institute of Industrial Technology certified by the Chinese government. Leo AIC's proprietary technologies will be utilized in smart street lamps by the JVC, which will be sold to the city government to facilitate street lamps in the China-Korean Industrial Park in the new district of Lan Zhou city. LZC will guarantee 20,000 units of smart street lamps within the first year after the relevant government procurement announcement for smart street lamps are listed on, and enter mass production. "LEOM's sales are expected to reach $200 million in the first year after commencement of production," said Dr. Shi Chul (Robert) Kang, CEO of LEOM, "if LZC fulfills its binding liability in the agreement." He also said, "We have a big picture. After successful deployment of our smart street lamps in Lanzhou city, our products will be spread to many other cities in China, and in the world." The smart street lamp of Leo AIC is like an intelligent robot pole, including voice/image recognition, digital signage, chatbot, tele-diagnosing, tele-operation, traffic/pedestrian sensing, solar/wind power generation, micro grid, cloud artificial intelligence, as well as lighting roads and sidewalks. What makes Leo AIC's smart street lamp different from its competitors is its security solution, which adapts a blockchain algorithm used in Bitcoin. Leo AIC's blockchain solution is a ledger of facts, replicated across several computers assembled in a peer-to-peer street lamp network. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. Leo Motors, Inc., through its subsidiary Leo Motors, Co. Ltd., is engaged in the research and development (R&D) of multiple products, prototypes, and conceptualizations based on electric power generation, drive train and storage technologies. Leo Motors, Co. Ltd. operates through four unincorporated divisions: new product research & development (R&D), post R&D development, such as product testing; production; and sales. The Company's products include E-Box electric energy storage system for solar and wind power generation devices, and EV components that integrate electric batteries with electric motors, such as EV Controllers that use a mini-computer to control torque drive. For more information, please call:
News Article | April 20, 2017
LANZHOU, China, Apr. 20, 2017 /PRNewswire/ -- It was with some reluctance that Ma Xiaobing upgraded his kebab stall by investing in a smoke control device, but he is doing much better business now. "In the past, we roasted four legs of lamb each day. Currently, we need about 20 a day," said Ma from Lanzhou, Gansu Province. "There are more diners and we are busier than ever." Lanzhou, a city at the Yellow River valley in the country's arid northwest, was once among China's most polluted cities. Pollution was so bad that people even joked that the town did not show up on satellite images. Strong pollution control measures have lowered PM10 and PM2.5 densities in the city to less than 75 percent of 2013 levels. Last year, the annual number of blue sky days increased by 50 to reach 243. The provincial capital has become "a model of air quality improvement," according to a central inspection team. Annual coal consumption in the city has been reduced from 10 million tonnes in 2012 to around six million tonnes last year. One of the things Lanzhou has done is to rally grassroots officials into the battle. Yang Mingyan, a subdistrict office clerk, is one of the 10,000 pollution supervisors in the city. "Every morning, I check the area I am responsible for to see who is burning what, and whether substandard coal or wood are being used. If I find a problem, I will ask whoever is responsible to stop. If they do not listen to me, I will report the matter to superior authorities." All cities have anti-pollution policies, but in Lanzhou these policies are very strictly imposed. "Some cities are afraid of or unable to deal with big companies in environmental protection, fearing it will affect their economy, but Lanzhou doesn't have such problems," said Xing Lifeng, deputy director of Lanzhou Environmental Protection Bureau. The bureau even fined a leading state-owned petrochemical enterprise and has asked some companies to apologize to citizens. Some officials were punished for failing to properly apply themselves to their pollution control duties while others who showed more enthusiasm were promoted. "In fact, many of our measures are not very innovative, but in Lanzhou polluters are subject to the full force of the law," said Xing. Some heavily polluted cities, such as Shijiazhuang and Zhengzhou, have sent officials to Lanzhou to study its experiences first hand. "Many of Lanzhou's successes could easily be transplanted to other places," said Ma Jianmin of Lanzhou University. "For example, online monitoring data is all well and good, but it is a standard practice in Lanzhou for personnel to actually visit big polluters and see for themselves exactly what is going on," he said. The government expects good air quality days to account for more than 80 percent of all days in all cities at prefectural level and above by 2020. It is an ambitious target, and one that has not been met yet in Lanzhou. "Lanzhou still has some way to go to meet the goal. Pollution decreases initially by dealing with that which is easiest to control. Pollution control is therefore increasingly difficult and our work becomes harder with every success," said Chen Yimin, a Lanzhou Environmental Protection Bureau official. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/across-china-industry-city-sets-example-of-action-in-pollution-control-300442433.html
News Article | April 19, 2016
Image of the embryos having developed to the blastocyst stage 80 hours after launch. Image: Enkui Duan Chinese scientists are creeping a tiny bit closer to the future dream of humans colonizing and reproducing in space. They’ve succeeded, reports the Chinese Academy of Sciences, in developing early-stage mouse embryos aboard the SJ-10, a satellite that was launched into orbit on April 6 from the Jiuquan Satellite Launch Center in northwest China’s Gansu Province. “This research is a very first step for [we humans] to make interstellar travel and planet colonization come true,” Enkui Duan, the principal investigator of the space mouse embryos project and a researcher at the State Key Laboratory of Stem Cell and Reproductive Biology in Beijing told me over email. I caught Duan as he spent a sleepless night travelling to retrieve the mouse embryos (some of which survived) from Sizi Wangqi in Inner Mongolia—where the SJ-10 satellite landed on April 18—and back again to his team’s lab in Beijing for further analysis. “The experiment we have proposed in space was a big challenge. We boarded more than 6,000 mouse embryos on China’s SJ-10 recoverable satellites by using our newly developed large scale mammalian embryo freezing and thawing technology,” said Duan. The embryos before launch, at the two-cell stage (not yet developed to blastocysts). Image: Enkui Duan The team developed an embryo culture system and placed it within a small enclosed chamber that provides the ideal conditions for the embryos to develop in space. While the chamber was in orbit, a camera attached to the experiment took photographs of the embryos as they developed in microgravity, and sent these images back to Earth. With the aid of their imaging technology, the researchers were able to observe how the mammalian two-cell stage embryos developed into blastocysts under microgravity after four days. Blastocysts are structures formed in the very early development of mammals. In humans blastocysts begin to form five days after fertilization. The researchers will now compare their space-developed embryos to those cultured in normal laboratory environments on Earth to see what differences there are between the two at both a cellular and molecular level. In the long run, the researchers are tying their research into the more broader issues of whether humans could survive and live healthily in space, whether they could have healthy offspring in space, and if short or long-term travel in space could affect human fertility owing to exposure to harsh space environments. In other words, they’re dreaming big. “The question we focused on is whether humans could achieve the dream of surviving and reproducing in outer space in the future,” said Duan. “Now, we have finally proven that the most crucial step in our reproduction—early embryo development—is possible in outer space.” L-R Zheng WB (designer of embryo cultural box), Enkui Duan, Lei XH (embryo researcher) at the payload transfer area. Image: Enkui Duan Duan and his team have been working on space reproductive technologies for the last couple of years, and they first attempted to develop mouse embryos in space back in 2006. That time, the team placed four-cell stage mouse embryos in the SJ-8 satellite, which beamed back high-resolution images of how those embryos were getting on. “Unfortunately, all embryos failed to develop because of the high temperature in the culture system according to the data and images transmitted from the SJ-8 satellite,” said Duan, who didn’t give up. He and his team spent the next few years persuading Chinese state officials that “failure is inevitable in the path of such space exploration,” and that the team was set on succeeding if it was given a second chance. In the meantime, Duan also collaborated with researchers from the Shanghai Institute of Technical Physics in order to improve their space-faring equipment and in-lab culture systems. Though Duan admitted that humans still had a long way to go before they can could colonize space, he was adamant that his team’s project was a leap in the right direction. “As we know, after the embryo develops to blastocyst, it must implant into the uterus then develop into a fetus. Next, we want to see whether the embryo developed in outer space could implant into the uterus correctly and develop into the final step—the fetus,” said Duan. “We will further still focus on the possibility of mammalian embryo implantation and subsequent development as well as human pregnant ability in outer space. Our final conquest, is the sea of stars.”
News Article | October 5, 2016
Implementation of wholesale electricity markets is a major theme of China’s power sector reform effort, launched in early 2015. The central government has issued guidance documents on market design, and various Chinese provinces and regions have announced pilots for wholesale electricity markets. However, policymakers are still working to specify and build consensus for wholesale price reform that will support the government’s emissions and reliability goals for the power sector. Under China’s status quo approach to wholesale pricing, prices for coal-fired generators were set by the National Development and Reform Commission (NDRC), together with provincial-level officials, on a fixed yuan per kWh basis. These prices are traditionally reviewed annually, but, in practice, there has been little fluctuation, even from year to year. This approach arose in the 1980s, survived various attempts at reform, and is now a target of the current round of power sector reform. As for the coal- and gas-fired generators that are still needed, the status quo approach to pricing fails to offer adequate incentives to these generators to operate efficiently in the context of the overall power system. Less efficient coal-fired plants should, in an efficient system, operate less than their more efficient counterparts and should only be dispatched in hours when the demand for electricity is high. However, the status quo leaves coal-fired generators hungry for hours of operation, with no good business model for operating as peaking or flexibility resources, which are much-needed to support renewable resources. Nor does the status quo offer compensation to other resources that provide capacity and flexibility (e.g., demand response, gas-fired units, or energy storage). We have addressed these issues at length—including the connections between annual output planning (i.e., allocation of hours to coal-fired generators), inefficient system operations, and renewable curtailment—in a number of other reports. In short, the status quo approach to pricing does not support transition to a more flexible power system that meets emissions and reliability goals. What’s worse, the status quo gives coal-fired generators reason to resist market reforms. The challenge is to reform wholesale pricing, so that it sends better signals for investment in flexible resources (including demand-side and gas-fired resources) and the operation of resources flexibly. There are a range of possible approaches to reforming wholesale prices in China. Indeed, there is a wide variation of possibilities suggested by what has been done in other parts of the world. But first, let’s take a look at what has been going on with China’s reform efforts since early 2015. Nearly twenty provinces have launched ‘market pilots,’ including several approved in August and September. (There is some precedent for this in China: in the early part of the last decade, several provinces made short-lived attempts to implement competitive wholesale markets.) The NDRC’s Notice on Supporting Electricity Reform Documents (Document 2752; November 2015) provides guidance for provincial pilots for wholesale generation markets (Appendix 2), and provides instructions for how non-pilot provinces should gradually make the transition from planned operating hours to a more market-based approach (Appendix 4). Also in November 2015, the National Energy Administration (NEA) issued a draft document called Basic Rules for Electricity Market Operations. The provisions in the NDRC and NEA documents include calls for expansion of longer-term markets based on contracting between generators on one side, and large end-users or retail companies on the other. (This is conducted through both bilateral negotiation and centralized auctions and is called “direct trading” in China.) They also call for implementation of shorter-term markets (day-ahead and energy balancing mechanisms; typically referred to in Chinese regulatory documents as spot markets), and cross-provincial regional trading. To date, the market pilots have focused almost entirely on implementation of direct trading. The approach has been to expand direct trading, based on pilots that have been running for several years, and at the same time to gradually scale back planned allocations of generator operating hours. In public and official discussion, this is typically framed in terms of ‘hongli’ (dividends) for large users—that is, about allocating the benefits of lower prices amongst industrial consumers. It appears large industrial consumers and coal-fired generators are negotiating prices that are below the status-quo wholesale price, but higher than variable cost. So far, policymakers are making some effort to discourage the least efficient end-users from participation in direct trading. However, direct trading may expand rapidly: in a draft notice, NEA calls for a 30 percent share of local industrial consumption to be covered by direct trading in 2016, reaching 100 percent of industrial consumption by 2018, with all commercial consumption covered by 2020. (Industrial and commercial consumption together accounted for 85 percent of total consumption in 2015.) As at least one observer has argued (here, in Chinese), that implementation of direct trading can be seen as a fairly conservative reform that fits the ‘space’ of the annual output planning process that it is gradually replacing. That is, annual allocation of hours is being gradually replaced by annual contracts that also specify a number of hours that the generator in question will operate. However, relatively little concrete progress has been made in any of the market provinces towards implementation of short-term markets. In addition, it is not clear that much progress has been made in terms of improving system operations. The observer suggests that the dispatch centers may intend to continue operating according to the annual contracts in a way that is similar to (and similarly inflexible) the previous approach of operating according to the annual allocation of planned hours. In sum, ‘market’ reform since early 2015 has mainly taken the form of expanded direct trading. This is partly in reaction to pressure from large-users for lower electricity prices. Coal-fired generators have also been supportive of the emphasis on direct trading, given their interest in finding use for excess capacity. Policymakers have proceeded cautiously so far, limiting the access of relatively inefficient end-users, in line with China’s longstanding policies on differential pricing. It also appears that policymakers have limited the ability of coal-fired generators to offer excess capacity at fire-sale prices. Meanwhile, however, there is much work to be done to solve the underlying challenges of wholesale price reform. The challenge is to implement practical reforms that meet the broad principles set out in Document #9, including reliability, emissions reduction, consumer protection, better planning, and increased use of market mechanisms. On a somewhat more detailed level, as we argued in our recent discussion paper, the challenge is to reform wholesale pricing in line with four goals: There are a number of possibilities. As the NDRC and NEA documents indicate, provinces and broader regions could establish spot markets based on competitive bidding from generators. These markets would produce wholesale prices that fluctuate on day-ahead and intraday timescales. If implemented well, competitive bids in these markets should reflect the short-term costs of various generators, and power plants could be committed and dispatched according to these bids. There are substantial challenges in setting up this type of competitive regime. The United States, Europe, and other places are still working to perfect market design. The advent of large amounts of variable generation (e.g. wind and solar) has added to the challenge. There continue to be many debates about how to get the details right in order to meet emissions and reliability goals while delivering acceptable outcomes for consumers. One issue is that electricity markets are particularly susceptible to manipulation. China will face particular challenges in establishing competitive bidding in spot markets: institutions to support transparency, monitoring, and enforcement are somewhat lacking in capacity, and state-owned enterprises currently dominate the industry. Officials are reportedly debating some of these issues and considering a new push, including issuance of a new regulation for spot market implementation. Some official statements call for a spot market to be implemented by 2018, with broader implementation by 2020. However, other officials—pointing to the experience in other countries – argue that more than five years may be needed. There is also much discussion about which provincial pilot should take the lead in this area. (An announcement from NEA, dated September 9, calls for “exploration of establishment of a market mechanism for coordinating spot trading and long-term trading” in Gansu Province. The Jing-Jin-Ji region around Beijing is also under consideration.) Policymakers might also find it worthwhile to consider relatively easy-to-implement (and relatively low risk) alternatives—perhaps as an interim measure before competitive spot markets are launched. In particular, we have previously suggested implementation of an energy price (per kWh, based on estimated variable operating costs) and a capacity price (per KW) for each generator (See also Section 4, here). The capacity price could be determined by competitive auction, with relatively little difficulty. The capacity price would ideally be based not just on KW of capacity, but on desired flexibility characteristics of that capacity, and determined according to a competitive auction mechanism. (It is worth noting that, given the large-scale overcapacity of coal-fired generation that has emerged in recent years in China, capacity payments would tend to be quite low—with possible exceptions such as gas-fired capacity that is currently scarce in China and that would be valued for its flexibility.) China already has some useful experience in this area: some two-part wholesale pricing schemes (featuring just this kind of capacity price and energy price) have been set up in recent years for gas-fired capacity in Zhejiang, Shanghai, and for pumped hydro generators across the country—although these have not attracted much attention in the power sector reform debate. Building on this type of pilot effort could help set the stage for further development of competitive markets, perhaps including allowing entry of new participants and building the experience of government agencies with market oversight responsibility. The post Wholesale Electricity Markets and Pricing in China: How is Reform Going? appeared first on Regulatory Assistance Project.
News Article | February 22, 2017
To soothe aches and pains, many people turn to heating pads, patches or creams. Although a common practice, thermotherapy can cause burns. Now researchers are developing a transparent heating pad that allows users to see through it to monitor their skin's color and prevent such injuries. They report their approach in the journal ACS Applied Materials & Interfaces. Thermotherapy pads help treat a range of conditions including rheumatoid arthritis. But they've been known to cause burns, particularly among people who fall asleep with their heating pads on or among the elderly or others who might not be very sensitive to heat. Part of the problem is that commercial heating pads are opaque, and users can't see how their skin is reacting to the therapy. Other researchers have developed transparent alternatives, but they were ultimately too stiff, costly or brittle. Wei Lan and colleagues wanted to address this problem by developing a flexible, see-through device. To make their thermotherapy pad, the researchers embedded conductive silver nanowires in a thin polyvinyl alcohol film. They then enveloped the film and a copper electrode in biocompatible polydimethylsiloxane, a type of silicone, to insulate the heating element and protect a user's skin. Testing showed that the transparent device heated quickly when 3 volts were applied, which is the typical voltage of coin-cell batteries used in watches, remotes and other small electronics. It was also very flexible and worked well even after being bent 10,000 times. The authors acknowledge funding from the Natural Science Foundation of Gansu Province, the State Key Laboratory of Advanced Processing and Recycling of Non-ferrous Metals, Lanzhou University of Technology and the Scientific Research Foundation for the Returned Overseas Chinese Scholars, State Education Ministry. See how the heating pad works in this Headline Science video. The abstract that accompanies this study is available here. The American Chemical Society is a nonprofit organization chartered by the U.S. Congress. With nearly 157,000 members, ACS is the world's largest scientific society and a global leader in providing access to chemistry-related research through its multiple databases, peer-reviewed journals and scientific conferences. ACS does not conduct research, but publishes and publicizes peer-reviewed scientific studies. Its main offices are in Washington, D.C., and Columbus, Ohio. To automatically receive news releases from the American Chemical Society, contact email@example.com.
News Article | November 14, 2016
A newly described fossil skull from one of the largest of the saber-toothed cats, Machairodus horribilis, is the biggest saber-toothed skull ever found, and is helping scientists understand the diversity of killing techniques used by these extinct and fearsome predators. The skull was excavated from the Longjiagou Basin in Gansu Province, China, but languished in storage for decades before researchers rediscovered it in a collection room and identified it in the new study. And while M. horribilis may have had the biggest skull of the saber-toothed cats, it didn't necessarily have the biggest bite. When scientists analyzed the skull alongside its saber-toothed cousins, they estimated that it couldn't stretch its jaws as wide as some of the other extinct cats, which likely affected what type of prey it hunted and how it brought them down. [My, What Sharp Teeth! 12 Living and Extinct Saber-Toothed Animals] M. horribilis lived in the steppes and forests of northwestern China during the late Miocene epoch (11.6 million to 5.3 million years ago). The skull's upper surface measures 1.4 feet (415 millimeters) in length, and likely represents an adult male. Its incisors are arranged in a "gentle arch" and its signature upper canines are serrated on both edges, the study authors wrote. They noted that some of the fossil's features resembled those seen in primitive saber-toothed cats. But certain aspects of the skull shape were more like the skulls of modern lions and leopards, suggesting that M. horribilis may have had a range of motion in its jaw similar to large cats alive today. Clues in both the shape and the surface texture of the fossil helped the scientists determine how the jaw may have moved in life, according to study co-author Z. Jack Tseng, a professor of pathology and anatomical sciences at the State University of New York at Buffalo. "The surface of bones preserves ridges and bumps that indicate where muscles once attached, so paleontologists and anatomists can reconstruct the lines of action of the major muscle groups," Tseng told Live Science in an email. "The joints of the jaw — one on each side between the upper and lower jaws, and one down the middle between the two halves of the lower jaw — provide clues as to the mobility and range of motion possible in the animal’s bite." But when it came to using its knife-like teeth for killing, M. horribilis was "a lightweight" compared with some other saber-tooths, Tseng added. It lacked the shallower jaw joints that allowed other cats' jaws to open wider — to enclose and rip out the throats of large prey. The jaws of M. horribilis just didn't stretch wide enough to do that, he said. However, M. horribilis probably made up for that disadvantage with its bulk, Tseng said. The researchers estimated that it weighed nearly 900 pounds (400 kilograms), which would have given it a size and strength advantage over even large prey, which it probably killed by ripping open the throat "and causing massive blood loss," the study authors wrote.
News Article | December 22, 2016
SINGAPORE, Dec. 22, 2016 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has delivered a total of 303 hybrid engines to Inner-Mongolia Tian'an Public Transportation Group and Lanzhou Mass Transit Company. All of these engines are compliant with National V emission standards. The Lanzhou Mass Transit Company recently put 288 new environmentally-friendly buses into service, 280 of which are 12-meter coach buses powered by GYMCL's YC6J210N hybrid engines. This turbocharged engine displaces 7.8 liters for medium-size commercial vehicles. The remaining 8 buses run on GYMCL's YC6MKN heavy-duty natural gas engines with a 10.3 liter displacement, which are designed for larger coach buses. Lanzhou, the capital of Gansu Province and a major industrial city in Western China, has been plagued by increasing environmental pollution in recent years. Additionally, GYMCL delivered 15 natural gas-electric hybrid engines to the Inner-Mongolia Tian'an Public Transportation Group in Erdos City and Xilinhot City. Mr. Weng Ming Hoh, President of China Yuchai, commented, "We continue to expand our geographic footprint in China and to extend our technological leadership in the new energy bus market. In September 2016, we also announced China's first gas-electric hybrid powertrain system for China's truck market. As the dominant supplier of hybrid engines in the Chinese bus market, we strive to introduce best-in-class natural gas-electric engines and diesel-electric hybrid engines to improve fuel efficiency and reduce emissions in many more urban markets across China." China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, the Company distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in China with high-quality products and reliable after-sales support. In 2015, GYMCL sold 364,567 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com. This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. The Company specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future. For more information, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-yuchai-wins-two-major-contracts-in-the-chinese-bus-market-300382952.html
News Article | September 23, 2016
The Tiangong-1, or “Heavenly Palace,” launched in September 2011 as China’s first space laboratory. Its mission was to establish its own space station and position China as a leader in space technology, the Guardian reported. The station hosted its last crew in 2013 and was officially decommissioned in March 2016, but it continues to orbit the Earth at an average height of nearly 230 miles. Speculation that China had lost control of Tiangong-1 spread in June after Thomas Dorman, an amateur satellite tracker who had been observing the station, told Space.com that he thinks “China will wait until the last minute to let the world know it has a problem with their space station.” Officials said during last week’s press conference in Jinquan, Gansu Province, that the 18,739-pound station is expected to re-enter the planet’s atmosphere in the latter half of next year. Most of the station will burn up when it enters the atmosphere, according to their calculations. Spacecraft operators usually plan for decommissioned space stations to re-enter the atmosphere over a remote location in the ocean. That ensures falling debris not burned away during re-entry won’t cause any harm or significant damage on impact. Xinhua reported that China will continue to monitor Tiangong-1, “strengthen early warning for possible collision with objects” and, if necessary, release internationally a forecast of where it will be falling. This indicates some level of uncertainty about where the space lab will fall, as The Washington Post points out. Jonathan McDowell, an astrophysicist with the Harvard-Smithsonian Center for Astrophysics, told the Guardian that the announcement suggested that the station was out of China’s control. “You can’t really steer these things,” McDowell told the newspaper. “Even a couple of days before it reenters we probably won’t know better than six or seven hours, plus or minus, when it’s going to come down. Not knowing when it’s going to come down translates as not knowing where it’s going to come down.” Although most of the space station will burn as it reenters the atmosphere, some denser parts would still crash on Earth, McDowell said. “There will be lumps of about [220 pounds] or so, still enough to give you a nasty wallop if it hit you,” he said, adding that the debris probably wouldn’t cause widespread damage. But if you’re anxious that a fiery piece of the Heavenly Palace might hit you in 2017, relax. There’s a 1-in-3,200 chance that space debris would strike any of the billions of humans on Earth, according to a 2011 NASA re-entry risk assessment. What’s more, Chris Peat, the developer of the satellite tracking website Heavens-Above.com, said that the Defense Department is following Tiangong-1 on its worldwide network of radar installations. “They make the orbital elements available to the public via the Space-Track web site and this is where we get the orbital data from in order to make our predictions,” Peat told astronomy news site Universe Today. And if you’re still worried about an out-of-control space station plummeting to Earth, keep the following in mind: An average of one piece of space debris crashed on Earth every day from 1961 to 2011, according to Space.com. No serious injury or property damage was ever confirmed.
News Article | December 6, 2016
Participate the Equity of Jinchuan International and Establish Several Joint Ventures in Shanghai for Comprehensively Carrying Out Trading Commodities, Factoring Business and Financial Leasing Jinchuan Group International Resources Co. Ltd (the "Company", together with its subsidiaries, collectively referred to "Jinchuan International", HK:2362) entered into a Strategic Framework Agreement with Junhe Holdings Limited ("Junhe Holdings"), in which Junhe Holdings will make equity investment in the Company by either subscribing for new shares of the Company or by acquiring existing shares of the Company, and establish several Joint Ventures in Shanghai with Junhe Holdings for different businesses, including a trading joint venture for trading commodities including non-ferrous metals, precious metals and chemical raw materials, a factoring joint venture and a financial leasing joint venture. Junhe Holdings is a 84.14% subsidiary held by Shanghai Junhe Group Co., Ltd ("Junhe Group"), which is an integrated conglomerate established in Shanghai and a one of the well-known private enterprises in the mainland of China which engages in various segments of business as supported by Shanghai's robust investment environment and capital flow, including (i) the global trading of non-ferrous metals, precious metals, energy products (such as petrochemicals, wood pulp, coal, mineral resources and other international and domestic trades); (ii) industry investment (such as manufacturing and sales of aviation equipment and heavy machinery); (iii) financial services (such as financial leasing, factoring, fund management, internet finance and supply chain finance). Junhe Group ranked 39th amongst the top 500 private enterprises in the PRC and 23rd amongst top 100 enterprises in Shanghai this year. It also received the title of "Enterprise of Contractual Performance and Creditworthiness" from the State Administration for Industry and Commerce of the PRC on numerous occasions and ranked 2nd amongst the top 100 private enterprises in Shanghai. Mr. Chen Dexin, Executive Director and CEO of Jinchuan International said, "The cooperation with Junhe Holdings will leverage competitive advantages of both parties, realizing organic integration of brands, channels, resources, capital and talents and achieving strategic and synergetic effect as a whole. The move today signifies two companies cooperating to build for future. It also actualizes the Jinchuan culture of "honesty" and "win-win", alliance of two strong forces and mutual beneficial rationales. It even lays a strong foundation for healthy growth with stability and sustainability." About Jinchuan Group International Resources Co. Ltd Jinchuan International is a Hong Kong listed company established by the Jinchuan Group Co., Ltd for the purposes of accelerating the establishment of the mining group's multinational operational strategy and elevating Jinchuan Group's global investing, financing and operating capabilities. By virtue of Hong Kong's advantages as an international financial and trade center, and through the Company's focus on an internationalized operating strategy, the Company has established itself as the flagship platform for the Jinchuan Group to develop its overseas non-ferrous metal mining business. The Company is primarily engaged in the development of overseas mining resources projects, capital operation and assets management of overseas mining resources projects, as well as trading of raw materials and products of nickel, copper, cobalt and precious metals. About Jinchuan Group Co., Ltd ("Jinchuan Group") Jinchuan Group Co., Ltd, founded in 1958, is a state-owned enterprise with its majority interest held by the People's Government of Gansu Province. Jinchuan Group specializes in mining, concentrating, metallurgy, chemical engineering and further downstream processing. Jinchuan Group is widely recognized as a renowned mining corporation and is the fourth largest nickel producer and second largest cobalt producer in the world and the third largest copper producer in the PRC. Media Contacts: Angel Yeung Jovian Communications Tel: +852 2581 0168 Fax: +852 2854 2012 Email:
News Article | August 22, 2016
Record growth in the first half of 2016 sounds great for renewable energy, but the country has far more solar power than it can use. China’s epic solar binge accelerated in the first six months of 2016, as the country added more than 20 gigawatts of new solar installations. That’s nearly three times as much as the same period last year, and is more than the total installed capacity of all but Germany, Japan, and the United States. But signs are growing that the boom is starting to fade. Investment firm Macquarie Capital said last month that many of the solar farms built this year were hastily completed to meet the deadline of July 1, when government subsidies for new solar were cut. Further cuts are expected next year as the government tries to rein in runaway development. China now has around 63 gigawatts of solar power capacity, more than any other country. And wind, solar, nuclear, and hydro projects continue to be built out even though energy demand in China is nearly flat. Beijing is also having trouble meeting its financial commitments to solar developers: some 21 billion yuan ($3.16 billion) in solar subsidies have yet to be paid. The government is expected to announce its latest five-year plan for the energy sector soon, and analysts expect that the average targets for new solar installations could drop to 15 gigawatts a year—still huge by the standards of any country other than China, but well below this year’s likely total. Much of the new solar generation, particularly in the desert provinces of western China, is not even hooked up to the grid. That means much of the power is going to waste—39 percent in Gansu Province and more than half in Xinjiang, according to the Photovoltaic Industry Association. It’s part of a long-term supply glut that plagues China in the coal, steel, and concrete industries as well. “We all know how prone China is to over-investment leading to massive overcapacity,” Mark Clifford, executive director of the Hong Kong-based Asia Business Council, wrote last month. “Why should electricity be any different?”