Summary by Moomoo AI
On June 14, 2024, Datang Renew announced that it had signed a joint venture agreement with its wholly-owned subsidiaries Datang Renew Hong Kong and Datang Hainan to jointly invest in the establishment of a joint venture to develop an energy storage project located in Wenchang City, Hainan Province. The registered capital of the joint venture is RMB 59 million, of which Datang Renew contributes RMB 23.6 million, accounting for 40%; Datang Renew Hong Kong contributes RMB 14.75 million, accounting for 25%; Datang Hainan contributes RMB 20.65 million, accounting for 35%. The joint venture will become a subsidiary of Datang Renew. According to listing rules, the highest applicable percentage for this transaction exceeds 0.1% but is below 5%, so it must comply with the reporting and announcement requirements, but is exempt from the requirements for independent shareholder approval. This transaction does not need to be recalculated and reclassified with past transactions. Datang Renew believes that this joint venture will help promote the company's high-quality development and is in line with the national renewable energy development strategy.