Datang New Energy (01798) announced that on December 28, 2023, Datang, Datang Power, Guiguan Electric Power, the company, Datang Environmental and Oriental Research Institute entered into a joint venture agreement with the relevant contracting parties to jointly fund the establishment of a joint venture.
According to the joint venture agreement, the registered capital of the joint venture was RMB 1 billion, of which Datang invested RMB 510 million in currency, accounting for 51% of the registered capital of the joint venture; Datang Electric Power invested RMB 120 million in currency, accounting for 12% of the registered capital of the joint venture; the company invested RMB 100 million in currency, accounting for 10% of the registered capital of the joint venture; Datang Environmental invested RMB 50 million in currency, accounting for 5% of the registered capital of the joint venture; Oriental Research Institute made a monetary investment of RMB 50 million, accounting for 5% of the joint venture's registered capital RMB 100 million, accounting for 10% of the registered capital of the joint venture.
According to the announcement, funding the establishment of joint ventures will help the company's scientific and technological innovation and sustainable green development. It is also a specific initiative to actively implement the national “double carbon” strategy and scientific and technological innovation strategy. The establishment of joint ventures as a platform for scientific and technological innovation in the energy sector through investment is conducive to promoting collaborative innovation research, broad integration, and leveraging innovation resources from all parties to jointly undertake major national scientific and technological research tasks, achieve deep integration of industry, education, research and use throughout the industry chain, accelerate the transformation and incubation of high-level scientific and technological innovation achievements, cultivate strategic emerging industries and future industries, and achieve high-quality development.