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CN ENGY STORAGE: SUPPLEMENTAL ANNOUNCEMENT IN RELATIONTO THE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
CN Engy Storage (01143) plans to establish a joint venture company with Shanghai Zhongru Intelligence.
Smart Finance App learned that CN Engy Storage (01143) announced on June 4, 2024 that the company had entered into a non-legally binding strategic cooperation agreement with Shanghai Zhongru Wisdom Energy Group Co., Ltd. According to the cooperation agreement, the company will form a joint venture company with Shanghai Zhongru Wisdom, and the joint venture company will be committed to new energy storage and other fields. The investment of the joint venture company will not exceed HKD 50 million. Shanghai Zhongru Wisdom provides project targets and funds for the joint venture company with its professional ability. The group has the right to participate in the operation and management of the joint venture company throughout the whole process, including the appointment of directors and other related matters.
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Xunting Wu OP : A few months ago, someone manipulated the deal, which led to a lock in and losses.