Gelonghui, Feb. 19, 丨 Jinjing Xinneng (01783.HK) announced that in January 2024, the company and Guoxuan Hi-Tech (Hong Kong) Co., Ltd. established a low carbon research institute in Hong Kong in the form of a joint venture, namely Guoxuan Jinjing Low Carbon Research Institute Co., Ltd., to jointly promote the R&D, application and trade of low carbon technology in Hong Kong and the world.
Hong Kong Guoxuan is a limited company incorporated in Hong Kong. It is a wholly-owned subsidiary of Guoxuan Hi-Tech Co., Ltd.
Hong Kong Guoxuan is mainly engaged in new energy technology and service business. The joint venture will hold 49% and 51% of the interests of the Company and Hong Kong Guoxuan respectively.
The joint venture will be mainly engaged in (1) the design and development of low-carbon technologies; (2) the sale (including import and export) of goods and technologies; and (3) the provision of technical services and advice relating to the promotion of low-carbon technologies. The establishment of a joint venture will promote the company's low-carbon technology and promote the development of innovative low-carbon technology, which will enrich the company's product line in the long run.
The board of directors believes that the memorandum of understanding between the company and Hefei Guoxuan brought synergy effects to the contracting parties in energy storage and reverse logistics business, enabling them to jointly develop and promote solutions around the world. This cooperation has expanded the global influence of both parties and entered new markets and customers. The cooperation also provides contractors with access to technology and enhance their R&D capabilities. This cooperation further enriches the product portfolios of both parties to meet a wider range of customer needs. This is consistent with both parties' sustainable development goals and helps establish a competitive advantage in the energy storage market.