[Caihua Social News] Baineng International Energy (08132.HK) announced that on December 9, 2021, Baineng Energy (Beijing) Co., Ltd. ("Baineng Energy", a wholly-owned subsidiary of the company) and Beijing Ke Rui New Energy Technology Development Co., Ltd. entered into a non-legally binding strategic cooperation agreement on possible business cooperation.
According to the strategic cooperation agreement, Baineng Energy and Ke Rui New Energy can make use of their respective resources, information and expertise to jointly participate in the preliminary work of the development of energy storage projects. it includes conducting energy storage market research, selecting potential customers, conducting energy consumption model research for target customers, optimizing energy storage technology and equipment solutions, calculating financial models and designing comprehensive energy solutions. In the process of cooperation, Baineng Energy and Ke Rui New Energy can explore their respective business opportunities and identify investment opportunities for potential energy projects. The contractor may enter into a separate agreement on project execution or investment opportunities for the business in accordance with market practice.
The board of directors is of the view that the signing of a strategic cooperation agreement will enable the company to further develop and expand its energy storage business by identifying suitable new energy projects, relying on its experience and expertise in the development of power products, design of energy storage systems, production of energy storage equipment, construction, operation and maintenance of energy storage power stations, and can tie in with the group's business strategy. Establish its core competitiveness in the field of new energy materials, energy saving and environmental protection and energy security digital technology, and develop into a technology and energy enterprise with significant influence and reputation in the industry.