China Development Group (NASDAQ:CTDC)

HONG KONG, Jan. 17, 2012 (GLOBE NEWSWIRE) -- China Technology Development Group Corporation (Nasdaq:CTDC) ("CTDC" or the "Company"), a growing clean energy group that provides solar energy products and solutions, based in Hong Kong with sales offices in Milan and Frankfurt, and facilities in China announced today that a three-year cooperation framework ("the Framework") to develop solar projects in the United States and China has been signed among CTDC, CTDC's wholly-owned subsidiary Sinofield Group Ltd. ("Sinofield"), GCL-Poly Energy Holdings Limited ("GCL-Poly")'s subsidiary GCL-Poly Investment Limited ("GCL-Poly Investment"), and China Merchants Group's subsidiary China Merchants New Energy Group Limited ("CMNE"). Present at the ceremonial signing session were, among others, Yuning Fu, Chairman of China Merchants Group ("CMG"), Gongshan Zhu, Chairman of the Boards and CEO of GCL-Poly, and Alan Li, Chairman of the boards and CEO of CTDC/Director of Sinofield.

As the world's leading producer of polysilicon, GCL-Poly has interests in over 21 power plants, including a wind power plant, a 20 MW solar farm in China, and several solar farms operating in the USA. In addition, its two solar parks in the total of 84 MW are currently under construction in the USA.

With a 140 year history, CMG is a forerunner in China's national industry and commerce. At the end of 2010, CMG's total assets were about US$50 billion; CMG's net profit was about US$1.9 billion, ranked the ninth among China's state-owned enterprises. Through its subsidiaries, CMG boasts having largest existing, in-progress and proposed warehouse rooftop area available in China, with more than three million square meters to develop solar infrastructure. Zhenwei Lu, Executive President of CMNE, said, "We aim to bring a steady supply of solar electricity to our logistics and industrial zone operations, as an innovative solution to upgrade our traditional structure and lead in low carbon development in China."

Pursuant to the Framework, GCL-Poly and CTDC will jointly develop and invest in solar parks in the USA. In addition, GCL-Poly is to assist CTDC in investing solar parks that are in operation or being installed in the USA. 

As a part of the Framework, Sinofield will be the only platform for CMNE to invest into China's rooftop solar development, with name change to "China Merchants New Energy Holdings Company Limited" after Sionfield's completion of capital increase. GCL-Poly will contribute to 20% of Sinofield's increased share capital with HK$48 million (equivalent to US$7.5 million).  Simultaneously, CMNE will inject into Sinofield with exclusive rooftop solar development rights of at least 180 MW, amounting to 55% of Sinofield's increased capital. The exclusive solar development rights in place are mainly comprised of CMNE's 25 years of exclusive development rights to the warehouse rooftops of three enterprises of CMG

HONG KONG, Dec. 12, 2011 (GLOBE NEWSWIRE) -- China Technology Development Group Corporation (Nasdaq:CTDC) ("CTDC" or the "Company"), a growing clean energy group that provides solar energy products and solutions, based in Hong Kong with sales offices in Milan and Frankfurt, and facilities in China today announced that CTDC received a notice from The NASDAQ Stock Market stating that the closing bid price of the Company's common stock was below $1.00 per share for 30 consecutive business days and that, as a result, the Company no longer meets The NASDAQ Capital Market's minimum bid price requirement for continued listing set forth in Listing Rule 5550(a)(2).

The notice of noncompliance has no immediate effect on the listing or trading of the Company's common stock on The NASDAQ Capital Market. Under the Listing Rules, the Company has 180 calendar days, or until May 29, 2012, to regain compliance. If at any time before May 29, 2012 the closing bid price of the Company's common stock is at least $1.00 for a minimum of 10 consecutive business days, the Company will regain compliance with the minimum bid price requirement and the matter will be closed. In the event the Company does not regain compliance by May 29, 2012, the Company may be eligible for an additional 180 calendar day grace period, provided that the Company meets all initial listing standards for The NASDAQ Capital Market other than the minimum bid price requirement.

HONG KONG, Oct. 13, 2011 (GLOBE NEWSWIRE) -- China Technology Development Group Corporation (Nasdaq:CTDC) ("CTDC" or the "Company"), a growing clean energy group that provides solar energy products and solutions, based in Hong Kong with sales offices in Milan and Frankfurt am Main, announced today that the Company's subsidiary, China Merchants Zhangzhou Development Zone Trendar Solar Tech Ltd. ("Trendar Solar"), celebrates the signing of 10.8MW Goldpoly On-Grid Rooftop Solar PV ("Project") contract as the turnkey project contractor.

The Project is located at the Jinjiang Economic Development Zone, with total construction cost of RMB164 million. China's Ministry of Finance has granted a subsidy of RMB 97.2 million for the Project under the Golden Sun Program. The Project will cover the 100,000 square meter rooftop space of Goldpoly's facility. Annual solar electricity generation is expected to be approximately 10,000,000 kilowatt-hours, with annual displacement of 10,000 metric tons of carbon dioxide.

The contract was signed between Trendar Solar and Goldpoly (Quanzhou) Science and Technology Industry Co., Ltd, a subsidiary of Goldpoly New Energy Holdings Limited (HKSE:0686) ("Goldpoly") on October 12, 2011 in Hong Kong. Trendar Solar will be responsible for turnkey project management, including engineering design, construction, installation, procurement, operations and maintenance of the Project, which is due to be completed by June 2012.

HONG KONG, Oct. 10, 2011 (GLOBE NEWSWIRE) -- China Technology Development Group Corporation (Nasdaq:CTDC) ("CTDC" or the "Company"), a growing clean energy group that provides solar energy products and solutions, based in Hong Kong with sales offices in Milan and Frankfurt, announced today that the Company has participated in the development of a 4.8MW solar farm ("LUNETTA") in Ravenna, Italy and the solar farm has successfully completed grid interconnection to the local utility.

CTDC's subsidiary Linsun Renewable Energy ("Linsun") signed a participation contract with a local Italian developer in July 2011, to jointly develop LUNETTA. Linsun takes part in LUNETTA's development, engineering design and solar panel supply under the "LSP" brand, as well as technical support for installation and maintenance.

"LUNETTA brings clean energy and economic development to Ravenna," Sean Liaw, Chief Operating Officer of CTDC said. "We are very pleased to have accomplished a milestone solar farm project in Italy as a developer."