In order to reduce the cost of electricity consumption, Yatong Seiko, an automotive parts company, intends to sign a distributed generation agreement with Xuyuan New Energy.

On August 28, Yatong Seiko announced that in order to reduce the power cost of Yantai Yatong Seiko Machinery Co., Ltd. Three wholly-owned subsidiaries of the company intend to sign the "Distributed Photovoltaic Power Generation Project Benefit Sharing Contract" with Xuyuan New Energy respectively, which will use the roof of the building with property rights and supporting facilities for the construction of solar photovoltaic power station, and provide daily assistance for the construction and operation of the power station; Xuyuan New Energy is responsible for the investment, construction, ownership and management of photovoltaic power plants.

Yatong Seiko said that the subsidiary purchased electricity from Xuyuan New Energy and paid the electricity fee. Xuyuan New Energy gave a certain discount on the electricity price. The specific amount was settled according to the subsidiary's photovoltaic settlement price scheme and the actual electricity consumption. Considering all kinds of influencing factors, it is estimated that the maximum annual total amount of electricity purchased by the three subsidiaries is about 1.8 million yuan, and the maximum total amount of electricity purchased during the 25-year operation period is about 45 million yuan.