Polaris Solar Photovoltaic Network learned that on the evening of December 20, Yongtai Energy Co., Ltd. ("Yongtai Energy") issued an announcement stating that in order to accelerate the company's transformation and development in the new energy field, on December 18, 2021, the company was wholly-owned The company Huaying (Shandong) Petrochemical Co., Ltd. (hereinafter referred to as "Huaying Shandong") and National Energy (Shandong) New Energy Co., Ltd. (hereinafter referred to as "Guoneng Shandong") jointly funded the establishment of Guoneng Yongtai New Energy Co., Ltd. (temporarily Named, hereinafter referred to as "Guoneng Yongtai"), the planned registered capital is 50 million yuan, of which: Guoneng Shandong invested 25.5 million yuan, holding 51% of the shares; Huaying Shandong invested 24.5 million yuan, holding 49% of the shares. The first phase of capital contribution is tentatively set at 20 million yuan, which will be contributed by both parties based on the share ratio; the remaining capital contribution will be paid by both parties based on the project progress and investment plan based on the share ratio.

The proposed registered address of Guoneng Yongtai New Energy Co., Ltd. (tentative name) is in Tai'an City, Shandong Province. The proposed main business scope: Licensed projects: power generation, transmission, and power supply business; power facility installation, maintenance, and testing; biomass Gas production and supply, etc.; general projects: wind power technology services; solar power technology services; biomass energy technology services; emerging energy technology research and development; technology services, technology development, technology consulting, technology exchange, technology transfer, technology promotion; electric vehicles Charging infrastructure operations, etc.

The construction scale of the first phase of Guoneng Yongtai's photovoltaic power generation project is tentatively set at 40,000 kilowatts. The actual construction scale is determined according to the relevant policies of the local government and the needs of market development, and other projects will be gradually developed and constructed. Yongtai Energy stated that the company's total investment in the Guoneng Taian project for the current period is tentatively set at 170 million yuan. The two parties agreed to adjust the company's total investment in time according to the actual investment amount of the project after the completion of the project.

It is understood that Yongtai Energy is a comprehensive energy company listed on the Shanghai Stock Exchange. The company was established on July 30, 1992 and listed on the Shanghai Stock Exchange on May 13, 1998. Yongtai Energy is mainly engaged in power, coal, petrochemical and other energy industries, and its main business has realized the integration of coal and electricity.

Yongtai Energy stated that the establishment of this joint venture is to actively respond to the country’s strategic goal of “carbon peak and carbon neutrality” and accelerate the company’s transformation and development in the new energy field. It also marks the official launch of the company’s new energy layout in Shandong. , And will make full use of National Energy Shandong’s advantages in technology, personnel and company resources to accelerate the company’s new energy business’s regional layout and project implementation, continuously enhance the company’s competitiveness, enhance its profitability, and achieve the company’s green, low-carbon, sustainable and stable And high-quality development.