Since the reverse takeover completion in July of 2016, IDG Energy Investment has been mainly engaged in global energy assets investment and management through direct investments
Reverse takeover of "Shun Cheong Holdings Limited" (650.HK), predecessor of the Company, was completed, with HK$2.94 billion raised and previous hotel business disposed.
Upon completion, the Company has acquired the Inner Mongolia oilfield asset.
The Company issued new shares to Foxconn and raised HK$1.49 billion. Foxconn became the 2nd largest shareholder with shareholding of approximately 24.37%.
The Company issued new shares to Snow Lake Capital. Snow Lake Capital became the 3rd largest shareholder.
Dr. Liu Erzhuang was appointed to lead the Company to initiate its equipment business in semiconductor and solar power industries.
The Company has received purchase order for 2 systems of semiconductor equipment.