Core Viewpoint - A new individual business, Gaoyou City Photosynthesis Power Equipment Factory, has been established with a registered capital of 100,000 RMB, focusing on various sectors including renewable energy equipment manufacturing and sales [1] Company Summary - The legal representative of the newly established company is Li Fan [1] - The registered capital of the company is 100,000 RMB [1] - The business scope includes manufacturing and sales of renewable energy power equipment, pneumatic power machinery, lighting fixtures, and various metal products [1] Industry Summary - The company operates in the renewable energy sector, specifically in the manufacturing of new energy power equipment [1] - It also engages in the production and sale of electrical signal devices, hardware products, and building metal accessories [1] - The business includes import and export activities, as well as internet sales, indicating a broad operational scope [1]

Core Viewpoint - Liaoning Hongsheng Tongda Metal Co., Ltd. has been established with a registered capital of 100 million RMB, focusing on various metal and energy-related industries [1] Company Summary - The legal representative of the company is Zhang Bo [1] - The registered capital of the company is 100 million RMB [1] - The business scope includes: - Ferrous alloy smelting - Common non-ferrous metal smelting - Non-ferrous metal alloy manufacturing - Sales of high-performance non-ferrous metals and alloy materials - Sales of metal ores - Sales of coal and coal products - Sales of metal materials - Sales of high-quality special steel materials - Manufacturing and sales of new energy prime mover equipment - Research and development of key technologies for waste heat power generation - Research and development of technologies for utilizing waste heat, pressure, and gas - Technical services, development, consulting, exchange, transfer, and promotion [1]

Core Insights - Guizhou Jinfeng Equipment Co., Ltd. has been established, with Hu Wei as the legal representative [1] - The company's business scope includes power generation, transmission, and distribution, as well as manufacturing of new energy prime mover equipment and generators [1] - Jinfeng Equipment is wholly owned by Goldwind Technology (002202) through indirect holdings [1]

Core Viewpoint - A new company, Renqiu City Weijuan New Energy Equipment Factory, has been established, focusing on emerging energy technologies and related manufacturing activities [1] Company Summary - The company is registered with a capital of 500,000 RMB [1] - The legal representative of the company is Li Xiaowei [1] - The business scope includes research and development of emerging energy technologies, technical services, and manufacturing of non-electric household appliances and hardware products [1]

Group 1 - Recently, Huayun Smart Energy Technology (Wuhan) Co., Ltd. was established, focusing on the manufacturing of new energy power equipment, electronic special equipment manufacturing, and sales of electrical facility materials [1] - The company is jointly held by Haoyun Technology (300448) and others, indicating a collaborative investment approach in the new energy sector [1]

Core Insights - Changsha Zhongchuang Xinhang Technology Co., Ltd. has been established with a registered capital of 5 million RMB [1] - The company is involved in a wide range of activities including software development, manufacturing and sales of new energy equipment, and various electronic components [1] Company Overview - The legal representative of the company is Xiong Xueqin [1] - The registered capital is 5 million RMB [1] Business Scope - The company’s business activities include software development, manufacturing and sales of new energy equipment, electric machinery, automotive parts, batteries, photovoltaic equipment, semiconductor devices, and various electronic components [1] - Additional activities include research and development in biobased materials, IoT technology, and new materials technology [1]

Core Viewpoint - Nantong Guochi Chuangwei New Energy Co., Ltd. has been established with a registered capital of 100 million RMB, focusing on various aspects of new energy technology and equipment manufacturing [1] Company Summary - The company is legally represented by Dai Yanmei and has a registered capital of 100 million RMB [1] - The business scope includes manufacturing and sales of new energy power equipment, energy storage technology services, and battery sales [1] - The company is involved in the research and development of emerging energy technologies and offers technical services, consulting, and technology transfer [1] Industry Summary - The establishment of the company reflects the growing trend in the new energy sector, particularly in areas such as photovoltaic equipment and energy management services [1] - The company’s activities encompass a wide range of services including the manufacturing of electrical equipment, charging stations, and energy management services, indicating a comprehensive approach to the new energy market [1]

Core Viewpoint - Yangzhou Panshi New Energy Co., Ltd. has been established with a registered capital of 1 million RMB, focusing on various sectors within the new energy industry, including battery manufacturing and energy technology services [1] Company Overview - The company is legally represented by Wang Jialin and has a registered capital of 1 million RMB [1] - The business scope includes manufacturing of mechanical and electrical equipment, battery components, and batteries [1] Industry Focus - The company operates in the new energy sector, emphasizing the production and recycling of batteries, including used power batteries from new energy vehicles [1] - It also engages in the development of emerging energy technologies and offers energy storage technology services [1] Technological Services - The company provides a wide range of technology services, including software development, data processing, and cloud computing equipment services [1] - It is involved in the research and development of IoT technologies and offers related sales and services [1] Sales and Marketing - The company is engaged in the sales of various products, including electric equipment, charging piles, and new energy vehicles [1] - It also offers marketing planning services and domestic trade agency services [1]

Core Insights - The Ministry of Industry and Information Technology and the National Development and Reform Commission have jointly issued the "Guidelines for High-Quality Development of Industrial Parks," focusing on five key directions: specialization, intensification, digitalization, greening, and standardization [1][2] - The guidelines aim to shift industrial parks from rapid quantitative growth to effective qualitative improvement, promoting renewable energy consumption and green supply chain construction [1][2] Group 1: Policy and Development Directions - The guidelines provide a systematic approach to low-carbon transformation in industrial parks, emphasizing that achieving zero carbon is not just about energy supply but also involves optimizing industrial structure and enhancing safety [2][3] - Industrial parks are identified as key areas for zero-carbon projects, particularly in sectors like wind power, photovoltaics, and battery manufacturing [2][3] Group 2: Infrastructure and Implementation - The guidelines stress the importance of developing green infrastructure, including rooftop photovoltaics, decentralized wind power, and energy storage systems, tailored to the specific resources and industries of each park [3][4] - A "one-size-fits-all" approach is discouraged; instead, strategies should be customized based on local resources, industry types, and spatial considerations [4][5] Group 3: Data Sharing and Digital Transformation - The guidelines highlight the need for enhanced information infrastructure, promoting the deployment of 5G, gigabit optical networks, and industrial internet within parks [6][7] - Addressing the reluctance to share energy consumption data among enterprises is crucial, with suggestions for using data anonymization techniques to protect sensitive information [6][7]

Core Viewpoint - Xizi Clean Energy plans to conclude its fundraising projects related to the "New Energy Technology Manufacturing Industrial Base" and "Supplementary Working Capital Project" by September 26, 2025, and intends to use the remaining funds for permanent working capital [1][6]. Fundraising Overview - The company raised 1.11 billion yuan through a convertible bond issuance approved by the CSRC on December 24, 2021, with a net amount of 1.096 billion yuan after deducting issuance costs [2]. - The net amount was allocated to the "New Energy Technology Manufacturing Industrial Base" project (1.03 billion yuan) and the "Supplementary Working Capital" project (80 million yuan) [3]. Project Status and Financials - As of September 22, 2025, both projects have reached a usable state and are set for completion, with the following financial details: - New Energy Technology Manufacturing Industrial Base: - Planned investment: 1.03 billion yuan - Actual investment: 522.32 million yuan (51.39% progress) - Remaining funds: 565.38 million yuan - Supplementary Working Capital: - Planned investment: 80 million yuan - Actual investment: 80 million yuan (100% progress) - Total planned investment was 1.11 billion yuan, with 60.23 million yuan actually invested [3]. Reasons for Surplus Funds - The surplus funds are attributed to three main factors: 1. Effective cost control in equipment procurement and construction 2. Earnings from idle funds through cash management and deposits 3. Unsettled final payments amounting to 267.67 million yuan as of September 22 [4]. Plans for Surplus Funds - The pending payment of 267.67 million yuan will be held in a dedicated account for contractual payments, with any excess payments covered by the company's own funds. Remaining surplus funds of 297.71 million yuan will be transferred to a general deposit account [5]. Impact on the Company - This decision is expected to lower financial costs and align with the company's development plans, with no adverse effects on normal operations. The board and supervisory committee have approved the proposal, pending shareholder meeting approval [6].