On March 12, Gelonghui announced China Everbright Green Environmental Protection (01257.HK). The board of directors is pleased to announce the recovery of the following additional subsidy funds for renewable energy electricity prices:
1. The basic situation of recycling subsidy funds: From January 1, 2024 to March 8, 2024, 16 agricultural, forestry, and biomass power generation project companies under the Group have received a settlement notice from the State Grid Corporation on additional subsidy funds for renewable energy electricity prices. According to the notice, the total settlement amount is about RMB 1,534 billion, and the total amount of additional subsidy funds for renewable energy electricity prices that have been paid is about RMB 1,377 billion.
2. Impact on the Group: The recovery of the additional subsidy funds for renewable energy electricity prices mentioned above will improve the company's agricultural and forestry biomass power generation projects and the Group's cash flow, and will have a positive impact on the operation of the Group's future agricultural and forestry biomass power generation projects. The additional subsidy funds received for renewable energy electricity prices have been confirmed at the time of electricity sales for the corresponding year, and this recycling will not affect the company's profit and loss in 2023.