Xincheng (300778.SZ) subsidiary plans to acquire 100% of Jiangmen Honglun's shares

According to the Zhitong Finance App, Xincheng (300778.SZ) announced that Shenzhen Fangyao Energy Technology Co., Ltd. (“Fangyao Energy”), a wholly-owned company under the company, plans to use the raised capital to acquire 100% of the shares of Jiangmen Honglun Renewable Energy Co., Ltd. (“Jiangmen Red Wheel”). Through agreement between the two parties, it was determined that the price of Fangyao Energy's acquisition of 100% of Jiangmen Honglun's shares was 5.347 million yuan, and the amount of the underlying corporate debt was 6.1409 million yuan. After the transaction is completed, Jiangmen Red Wheel will be included in the scope of the company's consolidated statement.

The acquisition is a concrete implementation of the company's fund-raising project “Building Green Energy and Zero-Carbon Park Planning and Construction Project”. It also helps the company to continuously optimize the urban smart energy business layout, expand high-quality storage projects, and steadily promote the overall development of the company's new energy sector in accordance with the company's strategic planning and business development needs.