On March 31, 2023, Lin Yiwen,Chairman and General Manager met with a delegation of Philippine House of Representatives and Fortunetown Properties Corp.

The delegation of the Philippine House of Representatives and Shi Qiuhuan,Chairman of Fortunetown Properties Corp. (FPC) held an in-depth discussion and exchange with Lin Yiwen, Li Qingxian (Deputy General Manager) and representatives from Yongfu on renewable energy business in the Philippines,an important agreement was reached at the meeting. 

Lin Yiwen introduced the prospects of cooperation in green power development motivated by the "Belt and Road" initiative and China's strategy goal of "peak carbon emission and carbon neutrality"in line with Yongfu's business operation in overseas renewable energy market. He added that Yongfu will continue to leverage its advantages in technology, corporate governance and investment capability to deeply engage projects in Southeast Asia comprising the stages from development, construction and operation& maintenance explore an international business model for providing cleaner, more reliable, price competitive electricity in the Philippine power market.    

Shi Qiuhuan elaborated FPC's business operation in the Philippines and updates on progress of Global Building Materials City. FPC is a well-known industrial and commercial real estate company in the Philippines, who has successfully developed Global Industrial Park, San Simon Industrial Park, and the Global Building Materials City in Pampanga, Philippines and will  further develop projects such as bonded zone and international logistics park. In the future, FPC will focus on developing new energy projects and zero-carbon industrial park in the Philippines. With abundant market resources in the Philippines, FPC looks forward to strengthening cooperation with Yongfu in the development of the Philippine new energy market,leveraging their respective advantages and opening up cooperative development and mutual benefit to a new level.

Both parties reached a broader and deeper consensus on cooperation in the field of new energy. In the future, Yongfu will seize opportunities brought by the"Belt and Road" initiative, accelerate the cooperation with FPC in the development of renewable energy market in the Philippines.