Subsidiary of Guangzhou Development Group Incorporated (600098.SH) plans to invest 583 million yuan to build the Xiu Mountain Longfengba Photovoltaic Power Generation (Phase II) project.

Guangzhou Development Group Incorporated (600098.SH) has announced plans to optimize the company's new energy industry layout and build a new energy base in the southwest region to promote the high-quality development of the new energy industry. The company's wholly-owned subsidiary, Guangzhou Development Group Incorporated New Energy Group Co., Ltd. (referred to as "New Energy Group"), plans to invest in the construction of the Xiushan Long Fengba Photovoltaic Power Generation (Phase II) project, with a total investment of approximately 5.83 billion yuan. By investing in the construction of the Xiushan Phase II project, New Energy Group can expand its influence and demonstration effect in Chongqing, achieve a "point-to-area" effect, and lay the foundation for the development of future projects. At the same time, the company has invested in and operated multiple projects in the southwest region. The construction of the Xiushan Phase II project will help the company build a new energy industry brand, create a new energy base in the southwest region, achieve scalable development, improve operational efficiency, and promote the high-quality development of the new energy industry.