Jiangsu Zongyi Co., Ltd announced that the Company and JUSUNG Engineering Co.,Ltd have signed a contract to form a joint venture with registered capital of USD 70 million, in which the Company will contribute USD 26.68 million to hold a 66.7% stake and JUSUNG Engineering Co.,Ltd will contribute USD 13.32 million to hold a 33.3% stake. The joint venture will be engaged in constructing one 5th 26 megawatt thin film solar cell production line.