Guangzhou Great Power Energy and Technology (300438.SZ) plans to invest 5 billion yuan to build a 10GWh energy storage cell and energy storage system manufacturing plant, as well as an independent shared energy storage research and development base project.

Guangzhou Great Power Energy and Technology (300438.SZ) announced that the company plans to invest in the construction of a 10GWh energy storage battery and system manufacturing factory, as well as an independent shared energy storage research and development base project in Guangde City, Anhui Province. The total investment is planned to be 5 billion yuan. The company will establish a wholly-owned subsidiary or a holding company in Guangde City, Anhui Province as the implementing entity. The project will be constructed in two phases, with the first phase scheduled to be completed and put into operation in September 2025, and the second phase to be implemented according to the investment plan. This investment is in line with the company's strategic development plan, aiming to optimize the company's production capacity layout and enhance its business influence and comprehensive competitiveness. It will also meet the needs of the company's future business development and market expansion, playing a positive and far-reaching role in the company's industrial layout and future development.