Group 1 - The company held its sixth meeting of the second board of directors on June 17, 2025, with all nine directors present, ensuring compliance with legal and regulatory requirements [2][4][5] - The board approved an external investment project related to a storage project, which will be detailed in a separate announcement [3][5] Group 2 - The investment project is named "Baotou Storage Power Station Project," with a total investment amount of approximately 1.31 billion yuan (131,000 million) [8][11] - The project involves the construction of a 300,000 kW/1,800,000 kWh independent storage demonstration project, including supporting facilities [13] - The project is located in Baotou City, Inner Mongolia, and is expected to start construction in June 2025 and be completed by December 31, 2025 [13] Group 3 - The investment aims to enhance the company's integration into the renewable energy sector and support sustainable development in the region [11][15] - The project is expected to improve the reliability of power supply, reduce the curtailment of wind and solar energy, and provide emergency power for critical facilities [15] - The company anticipates stable revenue from the project due to a subsidy standard of 0.35 yuan per kWh for new grid-side independent storage projects, with a compensation period of 10 years [15]

Investment Overview - The company plans to invest approximately 1.31 billion yuan in the Baotou Energy Storage Project, which includes a 300,000 kW/1.8 million kWh grid-side independent energy storage demonstration project [1][2] - The project aims to support the sustainable development of the energy sector and ecological environment in Baotou, Inner Mongolia [1][2] Project Details - The Baotou Energy Storage Project will consist of a 300,000 kW/1.8 million kWh energy storage station and a 220kV booster station, with a total investment of about 1.31 billion yuan [2] - The project is located in the Kun District of Baotou City, covering an area of approximately 193 acres, and is expected to commence construction in June 2025 and be completed by December 31, 2025 [2][4] - The energy storage system will utilize a cluster management string-type lithium iron phosphate battery system, integrating liquid cooling temperature control and intelligent BMS [2][4] Company Background - The investment will be executed by Yongzhen Electric (Baotou) Co., Ltd., which was established on March 21, 2024, with a registered capital of 10 million yuan [3] - The company is wholly owned by Yongzhen Technology Co., Ltd. and is involved in various energy-related services, including power generation and transmission [3][4] Impact on the Company - The investment in the energy storage project is expected to enhance the company's integration into the photovoltaic industry chain and promote the development of its main business [4] - The project aims to efficiently utilize renewable energy sources in Baotou, reduce curtailment rates, and provide emergency power supply for critical facilities [4] - The project is expected to generate stable revenue for the company through a subsidy of 0.35 yuan per kWh for grid-side independent energy storage stations, with a compensation period of 10 years [4]