State Power Rixin Technology (301162.SZ) intends to jointly venture with Dongfang Xinneng to carry out new energy-related businesses.

Announcement from State Power Rixin Technology (301162.SZ): The company (Party B) intends to sign an "Investment Cooperation Agreement" with Orient New Energy (Beijing) Enterprise Management Center (Limited Partnership) (referred to as "Orient New Energy", Party A), and the two parties intend to jointly invest in establishing Orient New Energy (Beijing) Energy Storage Industry Development Co., Ltd. (tentative name). The registered capital of the joint venture company is RMB 400 million, with Orient New Energy subscribing for RMB 240 million, accounting for 60% of the joint venture company's registered capital; and the company subscribing for RMB 160 million with its own funds, accounting for 40% of the joint venture company's registered capital. According to the cooperation agreement, Party A is responsible for organizing the joint venture company to establish localized project companies in specific areas when developing new energy projects, matching new energy indicators, and is responsible for the capital and operational management of the joint venture company and project companies. Party B is responsible for feasibility and economic feasibility studies of new energy projects, providing basis for project decision-making, and has priority for project operation and maintenance services and operation services under equal conditions.