ASIA POWER CORPORATION LIMITED ("Asia Power") is principally involved in the ownership, management and operation of power plants in China. It was incorporated in Singapore in March 1997 and later converted to a public company in October 1999.

Asia Power (Neijiang) Hydroelectricity Co., Ltd ("Neijiang")
Neijiang was incorporated in Neijiang City, Sichuan Province, China in February 1998 with a registered capital of USD5 million. The company was then a wholly-owned subsidiary of Asia Power. In September 2002, Asia Power disposed of 40% equity interest in Neijiang to Neijiang Xingyuan Electric Power Co., Ltd ("Neijiang Xinyuan"). As a result, the company is now 60% owned by Asia Power and 40% owned by Neijiang Xinyuan.

Neijiang owns and operates a 13.5 MW hydropower station in Zizhong County, Neijiang City, Sichuan Province. The hydropower station was commissioned in January 1991, and it comprises 3 generating units with an installed capacity of 4.5 MW each. Neijiang has invested RMB15 million in exchange for a 35% stake in Sichuan Anning River Energy Development Co., Ltd.

Sichuan Anning River Energy Development Co., Ltd ("Anning River")
Anning River was incorporated in July 2002 with a registered capital of RMB50 million, and enlarged to RMB65 million in year 2006. The company is 35% owned by Neijiang and 30% owned by Asia Power (Hainan) Investment Management Co., Ltd, a wholly-owned subsidiary of Asia Power. Asia Power's effective interest in Anning River is 51%.

Anning River has undertaken to build hydropower stations along Anning River. The Sankeshu hydropower station operates at a total installed capacity of 52 MW (2 generating units at 26 MW each) and has commenced operation in January 2005.

CHANGZHOU SUYUAN ELECTRIC POWER CO LTD (“CHANGZHOU SUYUAN”)
Changzhou Suyuan (formerly known as Changzhou Changya Electric Power Co., Ltd) was incorporated in Changzhou City, Jiangsu Province, China in March 1999 with a registered capital of RMB43.1 million. The company was then 48% owned by Asia Power and 52% owned by Changzhou Changxin Electric Power Co., Ltd.

With effect from January 2001, the company had gone through a restructuring and capital enlargement exercise whereby total registered capital of Changzhou Suyuan was increased to RMB99.4 million. The company is now 25% owned by Asia Power, 22% owned by Changzhou Changxin Electric Power Co., Ltd, 18% owned by Jiangsu Electric Power Development Co., 18% by Yangzhou Guangyuan Industrial Co., Ltd, and 17% owned by China Huadian Group Co., Ltd. Changzhou Suyuan ceased its operation with effect of China's policy in improve the utilisation efficiency of energy resources.

CHANGZHOU HUAYUAN ELECTRIC POWER CO LTD (“CHANGZHOU HUAYUAN”)
Changzhou Huayuan has a registered capital of RMB66 million. Asia Power owns a 25% interest in the company and remaining 75% are invested by Changzhou Changxin Electric Power (22%), Jiangsu Electric Power Development Co., Ltd (18%), Yangzhou Suyuan Group Co., Ltd (18%) and China Huadian Group Co., Ltd (17%). The 59.6 MW peaking plant, located on the site adjacent to the existing Changzhou plant under Changzhou Suyuan in Changzhou City, Jiangsu Province, comprises a gas turbine generation set of 39.6 MW and a steam turbine set of 20 MW. Changzhou Huayuan ceased its operation with effect of China's policy in improve the utilisation efficiency of energy resources.

ASIA POWER (LEIBO) HYDROELECTRICITY CO LTD (“LEIBO”)
Leibo was incorporated in March 2006. The Group owns total effective equity interest of 53.44% in Leibo through its wholly owned subsidiary Asia Hydro Power Investment Pte Ltd. The principal activities of Leibo are mainly to develop and operate hydropower electricity generation plants with 40 MW installation capacities in Leibo County Sichuan province, China.

JAZ TECHNOLOGY DEVELOPMENT (SHENZHEN) CO LTD (“JAZ TECHNOLOGY”)
The Group acquired 60% of subsidiary JAZ Technology in June 2006, through Rich Bvild Investment Limited. JAZ Technology has a registered capital of USD1.2 million. The principal activities of JAZ Technology are in the research, development and manufacture of power measurement systems and instruments.

FU DA XIN HOLDINGS LTD (“FUDAXIN”)
The Group acquired 20% shares in Fudaxin in June 2009 and the remaining 80% in July 2010. Fudaxin invests in hydro power plants, wind power resource, power supply related management and technology in Shanxi and Gansu provinces through Xi'an Kaixin Energy Development Co. Ltd ("Kaixin"). Fudaxin has an equity interest of 40% in Kaixin.

Xi'an Kaixin Enterprise Co. Ltd ("Kaixin")
Prior to July 2010, the Group has an effective equity interest of 8% in Kaixin, via its 20% shareholding in Fudaxin. In July 2010, the Group's effective equity interest in Kaixin was increased to 60% via the acquisition of the remaining 80% equity interest in Fudaxin by Asia Power and the acquisition of 20% equity interest in Kaixin by Asia Power (Hainan) Investment Co., Ltd ("AP Hainan"). Kaixin's investment includes two subsidiaries operating a 12.9MW and a 28MW hydropower stations in Gansu Province, China.

Asia Power (Hongya) Energy Co., Ltd ("Hongya")
Hongya was established on 1 September 2010 in the People’s Republic of China with registered capital of the RMB30 million. Hongya is a joint-venture between AP Hainan and 四川洪雅禾森电力有限公司 (“Sichuan Hongya”). At incorporation, AP Hainan and Sichuan Hongya hold an equity interest of 96.67% and 3.33% respectively in Hongya. The principal activities of Hongya includes acquisition and management of hydropower projects.