Xinneng Low Carbon (00145) issued an announcement. On June 21, 2024, a wholly-owned subsidiary of the company went to China...
According to the Zhitong Finance App, Xineng Low Carbon (00145) announced that on June 21, 2024, a wholly-owned subsidiary of the company submitted another tender (“Shatin Tender”) to the Hong Kong Government for Shatin City Lot No. 646, located on Shan Mei Street, Fotan, Shatin, New Territories. The main purpose of the tender in Shatin was to build a charging station for electric vehicles. The tender for Shatin covers an area of about 369.9 square meters for a period of 12 years. The specific use is (1) electric vehicle charging stations, equipped with at least 5 electric vehicle chargers, each with an output power of not less than 100 kilowatts; and (2) storage attached to retail and retail use (“Shatin Electric Vehicle Charging Station”). The electric vehicle charging station in Shatin will service private vehicles and public transportation vehicles, including the requirement to reserve and designate 2 chargers to charge electric taxis and 1 charger to charge electric minibuses every day during peak hours from 3 p.m. to 6 p.m. In accordance with the requirements set out in the Shatin tender documents, a cashier's draft in the amount of HK$1 million has also been submitted, which will remain unpaid until the Shatin bid is accepted.
The Group has rich experience in energy saving business. In addition to providing energy saving solutions to the mainland China market, the Group has also recently provided insulation services for buildings in Hong Kong and Macau, China. The company aims to further expand its energy-saving business to electric vehicle charging facilities in Hong Kong, and tenders have been submitted. This not only diversifies the Group's revenue sources, but also shows the Group's commitment to developing clean energy infrastructure and promoting environmentally friendly transportation options. However, according to the tender results published by the Hong Kong Government, China, the bid was not accepted.
Similar to the bid, the company will cooperate with a local company specializing in clean energy solutions for the Shatin bid. The company has extensive expertise in providing energy conversion systems and energy efficiency solutions for electric vehicle charging. The partnership will utilize the combined strengths of the two companies to provide innovative and efficient electric vehicle charging services to support a more sustainable future in Hong Kong, China. If the bid for Shatin is successful, the company aims to enhance the development and operation of electric vehicle charging stations and contribute to the development and promotion of green transportation in Hong Kong, China.
The directors believe that the submission of the Shatin bid is in line with the Group's core business focus and long-term growth strategy in the energy saving business, and is in the best interests of the company and shareholders as a whole.