Wolong Real Estate Enters "Hydrogen Energy Sector"

Recently, Wolong Real Estate released the "Implementation Announcement on the Change of Securities Abbreviation of Wolong New Energy Group Co., Ltd."

The announcement stated that the changed stock abbreviation of Wolong Real Estate is Wolong New Energy, with the stock code "600173" remaining unchanged. The date of the securities abbreviation change is May 15, 2025.

Wolong Real Estate indicated that the reason for the change in the company's securities abbreviation is to actively respond to the national "dual carbon" policy, to develop towards the new energy industry, to increase new profit growth points for the company, to inject new momentum for the company's future development, and to promote the coordinated development of various business sectors including wind energy, PV, ESS, and hydrogen energy, with the core of comprehensive integration of multi-dimensional advantages.

In the field of wind energy, the company will fully promote the completion and implementation of the Baotou Damao Banner new energy plus ESS grid-connected pilot demonstration project, which has good economic and social benefits, laying the foundation for business expansion;

In the PV field, the company will focus on obtaining orders for distributed PV power stations in the industrial and commercial sectors, further enhancing market share;

In the ESS sector, the company will strengthen the construction of core technical capabilities based on electrochemical technology, power electronics technology, and new energy technology, actively seeking emerging, rapid, and sustainable growth points;

In the hydrogen energy field, the company will continue to develop and enhance technology and product reserves in hydrogen production, improving product competitiveness.

The company is committed to achieving industrial integration, fully leveraging the synergistic effects between industries, maximizing resource value creation, and creating value for all shareholders.

To align with the company's future development strategy and operational needs, and considering that the new energy business will provide significant support for the company's profits in the future, along with the fact that the new energy industry management team is a mature operating team with extensive industry experience, the company name has been changed from "Wolong Resources Group Co., Ltd." to "Wolong New Energy Group Co., Ltd." To ensure that the company's securities abbreviation is consistent with the company name, the company plans to change the securities abbreviation from "Wolong Real Estate" to "Wolong New Energy," with the securities code "600173" remaining unchanged.