SAAE (Shanghai Aerospace Automobile Electromechanical Co., Ltd) proclaimed in its public announcement that, on June 11 2007, SSEC (Shanghai Solar Energy S&T Co., Ltd), one of its holding subsidiaries, signed a solar PV groupware supply contract with Germany-based Conergy AG.

SAAE holds 70% of the shares of SSEC.

Conergy AG, registered in Hamburger, Germany with registration number HRB77717, is a provider in the European renewable energy field.

The main content of the contract includes:
Lump sum of the contract: about 78 million Euros;
Way of payment: letter of credit within 45 days (irrevocable);
Time limit for performance: from the signature date to December 31 2007.