According to Zhitong Finance App, Baineng International Energy (08132) announced that on April 22, 2024 (after the trading period), Baineng Guohua, a wholly-owned subsidiary of the company, signed a joint venture agreement with Shaoguan Guorun. Baineng Guohua and Shaoguan Guorun agreed to establish a joint venture in Shaoguan to develop distributed solar photovoltaic power plant business in China.
According to the terms of the joint venture agreement, the registered capital of the joint venture company will be RMB 3 million. Baineng Guohua will invest RMB 1.53 million in cash in the registered capital of the joint venture. The joint venture will hold 51% of the shares of Baineng Guohua and will be consolidated in the company's financial statements after its establishment.