Nanjing Public Utilities Development (000421.SZ) announced that the company (referred to as "Party A") intends to cooperate with Jiangsu Ganfeng Circular Technology Co., Ltd.
Zhitong Finance and Economics APP information, Nanjing Public Utilities Development (000421.SZ) announced that the company (referred to as "Party A") intends to sign a "Equity Cooperation Agreement" with Jiangsu Ganfeng Circular Technology Co., Ltd. (referred to as "Ganfeng Circular" or "Party B") and Nanjing Environmental Group Co., Ltd. (referred to as "Environmental Group" or "Party C"), jointly investing in the establishment of Nanjing Public Utilities Ganfeng Circular Technology Co., Ltd. (tentatively named, subject to the approval and registration of the Industry and Commerce Department, referred to as the "Joint Venture Company"), in order to fully leverage their respective professional and cni resource index advantages, and promote the layout of circular economy industries around the comprehensive utilization of power battery projects. The registered capital of the Joint Venture Company is 0.1 billion yuan, with Party A intending to contribute 40 million yuan, accounting for 40% of the registered capital; Party B intending to contribute 40 million yuan, accounting for 40% of the registered capital; and Party C intending to contribute 20 million yuan, accounting for 20% of the registered capital.
It is reported that the Joint Venture Company will promote the layout of circular economy industries around comprehensive utilization of power battery projects, extending to the recycling of new energy battery cascaded use/recycling, waste metal, waste electromechanical equipment, and other recycling-related industries, through the deep development of urban mineral resources, promoting the development of related industries clustering, constructing a recycling industry ecological circle with Nanjing characteristics for waste material circulation, investing in and operating recycling industry facilities, building a citywide waste material recycling industry system, and promoting the development of our city's circular economy.
