On September 26, Guangdong Hydropower released a series of investment plans.
Announcement 1: Signing of 100MW Decentralized Wind Power Project Framework Agreement
Recently, Xinjiang Guangdong Hydropower Energy Co., Ltd. (Hereinafter referred to as "Xinjiang Guangdong Hydropower"), a wholly-owned subsidiary of Guangdong Hydropower, and the People's Government of Jintang County, Chengdu City, Sichuan Province signed the Framework Agreement for Xinjiang Guangdong Hydropower Energy Co., Ltd.'s 100MW Decentralized Wind Power Project.
Xinjiang Guangdong Hydropower intends to develop wind farm projects in Jintang County, and the two sides will cooperate to promote the construction of Jintang New Energy Industry Demonstration Project. The planned wind power project is 100000 kilowatts, with a total investment of about 600 million yuan. The project will be completed within one year after the approval of Sichuan Development and Reform Commission.
Announcement II: Signing of New Energy and New Materials Investment Cooperation Agreement
in Puer City, Yunnan Province Guangdong Hydropower and Shenzhen Tianli Energy Storage Technology Co., Ltd. signed the New Energy and New Materials Investment Cooperation Agreement with the Management Committee of Yunnan Simao Industrial Park in Puer City, Yunnan Province. The company intends to invest in the construction of 3.5G W centralized photovoltaic power generation project within the jurisdiction of Puer City, Yunnan Province, with a total investment of 14 billion yuan.
According to the agreement, Tianli Energy Storage promises to invest in the construction of "Solid Power/Energy Storage Core + Intelligent Power/Energy Storage Equipment Integration Project" in the area designated by Simao Management Committee, with a total investment of 7.2 billion yuan.
Announcement III: Signing of Strategic Cooperation Agreement
with Jiangsu Nengying New Energy Technology Development Co., Ltd. Xinjiang Guangdong Hydropower Energy Co., Ltd. (Hereinafter referred to as "Xinjiang Guangdong Hydropower"), a wholly-owned subsidiary of Guangdong Hydropower, signed the Strategic Cooperation Agreement with Jiangsu Nengying New Energy Technology Development Co., Ltd. (Hereinafter referred to as "Jiangsu Nengying"). In line with the principle of "complementary advantages, resource sharing and win-win development", the two sides should give full play to their respective advantages and strengthen cooperation in the development and construction of gravity energy storage photovoltaic power generation, wind power generation and integrated intelligent energy under the background of new power system.
According to the agreement, the two sides will strive to jointly develop no less than 2G Wh gravity energy storage projects and 5G W wind and solar power generation projects in China through effective cooperation within three years.
At the same time, Guangdong Hydropower also announced the progress of the company's litigation and arbitration cases.
From August 31, 2023 to the date of this announcement, the Company and its subsidiaries have accumulated 124 new litigation and arbitration cases, involving a total amount of about 433.6275 million yuan, accounting for 11.01% of the absolute value of the latest audited net assets of the Company (2022). Among
the above cases, the Company and its subsidiaries initiated 16 cases of prosecution and arbitration on their own initiative, with a total amount of about 152.142 million yuan. There were 108 litigation cases in which the Company acted as the defendant, with a total amount of approximately RMB 281,485,500. Among the litigation and arbitration cases disclosed herein, there is no material litigation or arbitration involving a single amount accounting for more than 10% of the absolute value of the latest audited net assets of the Company and the absolute amount exceeding RMB10 million.
From August 31 to September 26, the company has concluded 14 new litigation and arbitration cases, involving a total amount of about 4.8517 million yuan. Among the closed cases, 14 were sued, and 2 were cases in which the company had to fulfill its payment obligations, which were settled by means of reconciliation and mediation. The company and its affiliated companies actually paid 1.2198 million yuan, of which 1.197 million yuan was the principal payable for goods and 22.8 million yuan was the litigation fee.
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