The opening of Far East Material Trade Center as a subsidiary of Far East Smarter Energy was obtained official reply

Far East Smarter Energy released the evening announcement on July 13 claiming that it received the Official Reply to the Agreement of Opening Far East Material Trading Center (Reply number of Jiangsu Financial Office [2016]82) from Financial Office of Jiangsu Provincial People's Government of the day. This reply agreed that the Far East material trading center could open, and the business location was at Yixing city of Wuxi, and the trade category was original ones of the “Far East Trading Pay Network Co. Ltd”. If new trade category added, necessary regulatory approvals were required.

Far East Material Trading Center Co., Ltd was founded on the basis of China Material Exchanging Center by Smarter Energy in order to strengthen the opportunities for the development of internet and commodity integration. In February 2016, Smarter Energy received The Official Reply to the Agreement of Division of the Far East Trading Pay Network Co. Ltd. (Reply number of Jiangsu Financial Office [2016]17) from Financial Office of Jiangsu Province which agreed Trading Pay Network to separate and set up Far East Material Trading Center, in details: Trading Pay Network was divided from the company, the main business, assets and personnel of the Chinese Material Exchange Stock were separated to Far East Material Trading Center, and the registered capital of Far East Material Trading Center could be 100 million RMB after division.

The company claimed that after five years of vertical e-business field distribution, Trading Pay Network has become the global electric vertical e-business platform with industry to support, which opened the line from the end of the raw materials to manufacturing side, and then to the end users of the whole industrial chain business mode. Related business of continuous spot trading platform separated to Far East Material Trading Center, which carried out business activities in an independent legal person mode based on the electrical and electric industry, to provide with the best commodity trading, settlement, settlement, financing and other services for customers. the Far East Material Trading Center will further implement the national strategy of "Internet +", constantly enrich and improve the product line, pay equal attention to online and offline, continued to expand the platform traffic and trading volume, and make the company's future development strategy come into reality.