Friend Group established a new energy company in Liyang through investment.

According to the Qi Cha Cha APP, recently, the Liyang Youdao New Energy Co., Ltd. was established with Xu Tao as the legal representative. Its business scope includes power generation, power transmission, power supply, and construction engineering. Equity penetration data on Qi Cha Cha shows that the company is wholly owned by Tianjin Youfa New Energy Co., Ltd., a subsidiary of Youfa Group.