CALB (03931) and Handan Fang joint venture to establish a company to help expand the power and energy storage business.

CALB(03931) announced that on May 28, 2025, the company signed a joint venture agreement with Handan City Investment Group and Handan City Urban Transportation Group, including the establishment of a joint venture company. The joint venture company will mainly focus on the development and construction of power, energy storage batteries, and energy storage system integration projects. According to the joint venture agreement, the company and Handan City agreed to jointly establish the joint venture company through cash contributions. The registered capital of the joint venture company is RMB 4 billion, with the company and Handan City holding 60% and 40% respectively, contributing RMB 2.4 billion and RMB 1.6 billion. The establishment of the joint venture company is beneficial for the market expansion and strategic layout of the group's power and energy storage businesses.