Gresgying Digital Energy Technology (600212.SH) plans to establish a joint venture company with Xianyang Economic Development Group with joint investment.

Gresgying Digital Energy Technology (600212.SH) announced that, due to the need for the construction of the research and production manufacturing base project in Xianyang, based on the "Investment Contract for Gresgying Digital Energy Technology Xianyang Research and Production Manufacturing Base Project" and the "Supplementary Contract for Gresgying Digital Energy Technology Xianyang Research and Production Manufacturing Base Project" signed between the company and the Xianyang Economic and Technological Development Zone Management Committee, as well as the "Construction Agreement for Gresgying Digital Energy Technology Xianyang Research and Production Manufacturing Base Project", the company intends to sign a "Cooperation Agreement" with Xianyang Economic development Group and Xianyang Economic and Technological Development Industrial Co., Ltd. ("Xianyang Economic and Technological Development Industrial") . The company and Xianyang Economic Development Group will jointly set up a joint venture company with a registered capital of RMB 250 million, with the company contributing RMB 50 million in cash, holding 20% of the shares, and Xianyang Economic Development Group contributing RMB 200 million in cash, holding 80% of the shares. The joint venture company will be used to acquire the assets or equity of the Gresgying Digital Energy Technology Xianyang Research and Production Manufacturing Base Project being built by Xianyang Economic and Technological Development Industrial. The specific terms such as the consideration for the acquisition of the construction assets will be determined by a separate agreement between Xianyang Economic and Technological Development Industrial and the joint venture company. After the acquisition is completed, the joint venture company will be responsible for the construction and operation of the project as the new entity. Upon completion of the project, the company will repurchase the project according to the agreement.