Dehong's Subsidiary Invests 89.46M Yuan in 24MW/90MWh User-Side Energy Storage Project

[24MW/90MWh! Dehong's Subsidiary Invests in User-Side Energy Storage Power Station]

On December 12, Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. disclosed an announcement regarding its subsidiary's investment in the construction of the Daya energy storage power station project. The company stated that to implement its development strategy and promote the growth of its energy storage business, Zhejiang Zheneng Technology Co., Ltd. (hereinafter referred to as the transferee or Zheneng Technology), a controlled subsidiary of Dehong, plans to acquire 100% equity of Zhenjiang Wanyi Energy Conservation Technology Co., Ltd. (hereinafter referred to as the project company) from Hunan Yaoning Tinci Mining Co., Ltd. (hereinafter referred to as the transferor or Yaoning Tinci). With the project company as the investment entity, it will invest in the construction of a 24MW/90MWh user-side energy storage project for Daya Wood-Based Panels Group Co., Ltd. The estimated total investment for the project is approximately 89.4566 million yuan.