Jiangsu New Energy Development (603693.SH) intends to establish a joint venture company named New Energy Qingkou.

Jiangsu New Energy Development (603693.SH) announced that its holding subsidiary Jiangsu New Energy Development Investment Management Co., Ltd. (referred to as "New Energy Investment Company") intends to jointly establish Jiangsu New Energy Development Qingkou New Energy Development Co., Ltd. (referred to as "New Energy Qingkou") with Jiangsu Lianyungang Port Energy Group Co., Ltd. (referred to as "Jiangsu Lianyungang Port Energy Group"), Jiangsu Xinhai Power Generation Co., Ltd. (referred to as "Xinhai Power Generation"), and Jiangsu Lianyungang Port Jinhai Environmental Protection Industry Development Group Co., Ltd. (referred to as "Jinhai Environmental Protection"). The registered capital of New Energy Qingkou is RMB 246 million, with New Energy Investment Company contributing RMB 125.46 million, accounting for 51% of the registered capital, Jiangsu Lianyungang Port Energy Group contributing RMB 73.80 million, accounting for 30% of the registered capital, Xinhai Power Generation contributing RMB 24.60 million, accounting for 10% of the registered capital, and Jinhai Environmental Protection contributing RMB 22.14 million, accounting for 9% of the registered capital. It is reported that the establishment of the joint venture by the company's holding subsidiary is to invest in the construction of the Jiangsu Lianyungang Port Qingkou Salt Field Fishery-Integrated Power Generation Project, in collaboration with related parties to facilitate project progress, in line with the company's strategic planning and business development needs, and will not harm the interests of the company and shareholders.