Shenzhen Energy: Plans to invest 6.822 billion yuan in building energy storage projects and increase capital.

Shenzhen Energy announced that its wholly-owned subsidiary, Northern Holdings, plans to invest 6.822 billion yuan in the construction of the Shen Neng Xilinguolexiwuzhumuqin Qi power grid-side compressed air energy storage project. The company has 1.394 billion yuan in self-owned funds, with the remaining to be financed. Due to the funding situation, the company plans to increase its investment in Northern Holdings by 1.392 billion yuan, and Northern Holdings will further increase its investment in the project company by 1.392 billion yuan. After the capital increase, Northern Holdings' registered capital will increase from 7.063 billion yuan to 8.455 billion yuan, and the project company's capital will increase from 2 million yuan to 1.394 billion yuan. This project is beneficial for the company's strategic development, but there are risks such as long construction periods.