Mountain high new energy (01250) issued an announcementWsoptexasholdempokerOn May 14, 2024 (after the trading session), Yingyu Hong Kong (companyWsoptexasholdempokerEntered into an investment cooperation agreement with Shandong Expressway New Energy Development for the establishment of a joint venture in China. According to the investment cooperation agreement, the total amount of capital subscribed (that is, the total registered capital) is RMB 60 million, of which 40% (that is, RMB 24 million) will be funded by Yingyu Hong Kong and the remaining 60% (that is, RMB 36 million) will be funded by Shandong high-speed new energy development.
The joint venture will be a limited liability company established in accordance with Chinese law and the terms of the investment cooperation agreement. The name of the joint venture is proposed as Shandong Expressway Luzhong New Energy Co., Ltd. (tentative name, final industrial and commercial registration shall prevail). The joint venture is mainly engaged in the development, investment and operation of power generation, distribution and power supply, energy storage, photovoltaic and wind power generation (subject to industrial and commercial registration).
The announcement said that the establishment of a joint venture will promote the company and Shandong Expressway Group to give full play to their respective advantages, promote the strategic layout of the new energy field, and improve the efficiency of industrial coordination.