Zheshang Development Group (000906.SZ) plans to invest 200 million yuan to establish a joint venture with Zhongtuo and Xin to develop the deep energy and chemical industry sector.

Announcement from Zheshang Development Group (000906.SZ): In order to implement the company's globalization strategy and strengthen the energy and chemical sector, the company plans to fully leverage its full industry chain management capabilities in the coal sector. The company intends to sign a joint venture agreement with individual Wu Hao, Lu Yangqing, and Zhejiang Hexin Enterprise Management Partnership Enterprise (Limited Partnership) in Hangzhou Economic and Technological Development Zone, Zhejiang Province to establish Zhongtuo Hexin Resources (Zhejiang) Co., Ltd. (referred to as "Zhongtuo Hexin" based on the commercial registration name). Zhongtuo Hexin plans to have a registered capital of 285 million yuan, with the company contributing 200 million yuan and holding 70% of the shares, and Zhejiang Hexin contributing 85.5 million yuan and holding 30% of the shares.