Jiangsu Guoxin Corporation (002608.SZ) announced that its subsidiary, Jiangsu Xin Hai Power Generation Co., Ltd. (referred to as "Xin Hai Power Generation"), plans to jointly establish Jiangsu Xin Neng Qingkou New Energy Development Co., Ltd. (referred to as "Qingkou New Energy" or "joint venture company") with Jiangsu Xin Neng Investment Management Co., Ltd. (referred to as "Xin Neng Investment"), Lianyungang City Energy Group Co., Ltd. (referred to as "Lianyungang Energy Group"), and Lianyungang Jin Hai Environmental Protection Industrial Development Group Co., Ltd. (referred to as "Jin Hai Environmental Protection"). The joint venture aims to invest in and construct the Qingkou Salt Field Fishery-Photovoltaic Integrated Power Generation Project in Lianyungang. Qingkou New Energy has a registered capital of 246 million RMB, with Xin Hai Power Generation subscribing 24.6 million RMB, accounting for 10% of the registered capital; Xin Neng Investment subscribing 125.46 million RMB, accounting for 51% of the registered capital; Lianyungang Energy Group subscribing 73.8 million RMB, accounting for 30% of the registered capital; Jin Hai Environmental Protection subscribing 22.14 million RMB, accounting for 9% of the registered capital.
Xin Neng Investment is a company indirectly controlled by Jiangsu Guoxin Corporation, the controlling shareholder of the company. According to the relevant regulations of the Shenzhen Stock Exchange Listing Rules, Xin Neng Investment is considered to have a related relationship with the company, and this investment in Qingkou New Energy constitutes a related transaction.
This external investment in Qingkou New Energy is aimed at promoting the development and construction of the Qingkou Salt Field Fishery-Photovoltaic Integrated Power Generation Project in Lianyungang, in line with the company's green development concept. The joint investment with affiliated parties is in line with the company's strategic planning and business development needs, and will not harm the company and shareholder interests.