Roan Holdings Group Co., and Guodiantou (Beijing) Integrated Energy Co., Jointly Develop Energy Storage Power Stations Investment and Operation Project

BEIJING and HANGZHOU, China, Aug. 15, 2022 /PRNewswire/ — Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a comprehensive solution provider for industrial operations and capital market services, announced today that the Company has entered into a cooperation framework agreement (the "Agreement") with Guodiantou (Beijing) Integrated Energy Co. ("Guodiantou"), a subsidiary of State Power Investment Corporation Limited, for their future strategic cooperation on investing, constructing and operating new energy storage power stations (such projects, the "Energy Storage Station Projects") initially in the Yangtze River Delta region. Through this cooperation, Roan expects the Energy Storage Station Projects to promote and improve the ecological layout of the energy storage industry, enhance the core competitiveness of industrial projects, and expand business performance and scale.

Pursuant to the Agreement, the parties are to form a project company or companies for the Energy Storage Station Projects, in which the Company is expected to hold a minority interest. Guodiantou will be primarily responsible for making the investment in these energy storage stations and owning the power station assets. Roan has entered into another cooperation framework agreement and a letter of intent with other third parties to facilitate the development of two industrial parks, one to be focused on new energy storage and battery manufacturing and the other on new energy storage production, system equipment manufacturing, and new materials and semiconductor, with the intent for the parks to house companies that would develop energy storage industrial projects which the Company would consult for. The Company plans to facilitate the use of these energy storage industrial projects to supply equipment and provide services in energy storage power station construction and operation as part of its cooperation under the Agreement. In addition, the Company will use its expertise in industrial operation and capital market services, including initial planning and financial consulting, to support the Energy Storage Station Projects. Details will be included in the future agreements to be entered into by the parties with respect to the Energy Storage Station Projects.

Mr. Junfeng Wang, Chairman of the Board commented "We are very excited to announce the cooperation with Guodiantou. Guodiantou, an integrated energy infrastructure investment, construction and operation enterprise, mainly focuses on the development directions of power generation, user-side energy storage infrastructure, energy storage, technological innovation, technical services and other businesses, and undertakes the important task of investing, constructing and developing new integrated energy infrastructure in Beijing, Tianjin, Hebei, the Yangtze River Delta region and the central region. Guodiantou is an important strategic partner of our industrial operation strategy of 'whole process and life cycle'. This cooperation is another breakthrough and important milestone in the development of our new energy industrial operation business following our new energy projects. These new energy projects are the new energy storage and battery manufacturing industrial park project and the industrial park project for companies engaging in new energy storage production, system equipment manufacturing, new materials and semiconductor (collectively, the "Projects"). The cooperation with Guodiantou plays an important role in connecting the downstream resources of the energy storage battery industry for our Projects, and improving the overall industrial ecological layout of the energy storage material base, energy storage battery base and energy storage equipment manufacturing base. Additionally, we could provide market operation service solutions through this cooperation to bring stable and sizeable downstream orders from this cooperation for our Projects, which would enable us to accomplish the closed loop of the whole process service, covering the whole industrial chain of the new energy industrial operation. We believe that our recent strategic partnerships are enhancing our influence and reputation in the new energy industrial operation market, and will transform into considerable financial returns in the future for our shareholders."

About Roan Holdings Group Co., Ltd.

Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a comprehensive solution provider for industrial operation and capital market services. Adhering to the platform strategy of "cross collaboration, technology empowerment, sustainability and stability, and combination of operation and finance resources", the Company's services focus on the new energy, new materials, and semiconductor industries. At the same time, the Company prioritizes on the application of innovative technologies in the consumer industry with respect to financial consumption, cultural and tourism consumption, and wellness ecosystem. Roan aims to provide comprehensive solutions and supporting services for diversified institutional and local government clients across the entire industry chain. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Shaoxing and Tianjin. For more information, please visit: www.roanholdingsgroup.com.

About State Power Investment Corporation Limited

Established in July 2015, the State Power Investment Corporation Limited (hereinafter referred to as "SPIC") is a large key state-owned enterprise directly under the central government of China. As one of the five major power generation groups in China and the largest solar power generation enterprise in the world, SPIC ranked 293rd among the Fortune Global 500 in 2021 with its businesses covering 46 countries and regions. SPIC has 130,000 employees and 62 subsidiary entities. More information, please visit: http://eng.spic.com.cn/

About Guodiantou (Beijing) Integrated Energy Co.

Guodiantou is an integrated energy infrastructure investment, construction and operation enterprise formed by China's State Power Investment Corporation Limited. Its main development objective focuses on power generation, user-side energy storage infrastructure, photovoltaic power generation, wind power generation, integrated smart energy, hydrogen energy, energy storage, charging piles, technological innovation, technical services and other businesses. Based in Beijing and developing nationwide, it undertakes the important task of investing, constructing and developing new integrated energy infrastructure in Beijing, Tianjin, Hebei, the Yangtze River Delta region and the central region.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Examples of such statements include our plan to help develop two industrial parks with the intent they would house companies that would develop energy storage industrial projects which the Company would consult for; through cooperation with Guodiantou, the Energy Storage Station Projects will promote and improve the ecological layout of the energy storage industry, enhance the core competitiveness of industrial projects, and expand business performance and scale; the parties are to form a project company or companies for the Energy Storage Station Projects, in which the Company is expected to hold a minority interest; Guodiantou intends to purchase the equipment and products to be used in the Energy Storage Station Projects from the energy storage companies that are located in the industrial parks in which the Company operates; the cooperation with Guodiantou plays an important role in connecting and improving the downstream resources of the energy storage battery industry for our projects in Jiaxing and Shangyu, which will not only bring stable and sizeable orders for our projects in Jiaxing and Shangyu as our market operation service solution, but also enable us to accomplish the closed loop of the whole process service, covering the whole industrial chain of the new energy industrial operation; and our belief that our recent strategic partnerships are enhancing our influence and reputation in the new energy industrial operation market and will transform into considerable financial returns in the future for our shareholders. Such statements are based upon management's current expectations of the consummation of the proposed transaction, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Examples of such risks include whether we and Guodiantou can successfully negotiate and enter into cooperation agreements to implement the framework provided by the Agreement, whether any project companies will be formed as part of such cooperation, whether the Station Projects will come to fruition, whether Guodiantou will fund the Station Projects, whether the Station Projects will have demand for substantial quantities of energy storage devices; whether our planned projects in Jiaxing and Shangyu result in industrial parks, and whether energy storage companies locate within such parks; whether we can connect such companies with the Station Projects and whether as a result such companies supply substantial amounts of energy storage products to the Station Projects; and whether any success in such projects would provide considerable financial returns in the future for our shareholders. Further information regarding these and other risks, uncertainties or factors are included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

IR Contact:
At the Company:
Katrina Wu
Email: [email protected]
Phone: +86-571-8662 1775

Investor Relations Firm:
Sherry Zheng
Weitian Group LLC
Email: [email protected]
Phone: +1 (718)213-7386

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