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| Investment in the Solar Energy Industry |
| China Sunergy is a Nanjing-based solar cell manufacturer with a unique, cutting edge technology. The company's R&D team played leading roles in developing the world's currently most efficient solar cells with a conversion rate of 24.7%.
In March 2006, Prax invested in China Sunergy as Series A investor. The company was listed on NASDAQ in May 2007. |
| As Series A investor, we helped the company successfully complete the Series B & C financing rounds before its IPO. In addition to actively assisting the company to secure more silicon material and increasing exports to the European market, we also acted as a coordinator among the management and shareholders of the company. To strengthen the company's management team, we helped China Sunergy recruit a new CEO in July 2007.
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| ˇ°Prax visited us when we had just begun construction of the factory and became our first institutional investor. They helped us tremendously with subsequent financing, and played an active, coordination role among shareholders and in board meetings. Prax was also a great contributor to our team building, strategy formulation, market expansion as well as IPO preparation.ˇ±
-Mr. Tingxiu Lu, Chairman of China Sunergy |
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