Minshang Chuangke plans to establish a subsidiary company with Beijing Shengwuyineng and Hainan Juneng to develop renewable energy technology businesses
Minshang Chuangke, Beijing Biotech Energy, and Hainan Juneng plan to establish a subsidiary company to develop renewable energy technology business. According to the cooperation agreement, the three parties will jointly invest 50 million RMB, with Minshang Shenzhen holding 51%, Beijing Biotech Energy holding 35%, and Hainan Juneng holding 14%. This move is a strategic initiative for the company to layout in the emerging green and low-carbon industry, which will accelerate the development of renewable energy. The subsidiary company will leverage Beijing Biotech Energy's technology and team advantages to explore opportunities in the relevant fields
Intelligence Finance APP reported that Minshang Chuangke (01632) announced on April 27, 2024, that its wholly-owned subsidiary, Minshang Shenzhen, has entered into a cooperation agreement with Beijing Bioenergy and Hainan Junity to establish a subsidiary for the development of renewable energy technology business.
According to the agreement, the total capital contribution to be made by the parties to the agreement is RMB 50 million, with Minshang Shenzhen contributing RMB 25.5 million in cash, equivalent to 51% of the subsidiary's registered capital; Beijing Bioenergy contributing RMB 17.5 million in cash, equivalent to 35% of the subsidiary's registered capital; and Hainan Junity contributing RMB 7 million in cash, equivalent to 14% of the subsidiary's registered capital.
The announcement stated that the company has been actively exploring various opportunities to enhance the group's competitiveness and increase value for its shareholders. The establishment of the subsidiary is a strategic move by the company to explore opportunities in the emerging green and low-carbon industry, which will help accelerate the development of renewable energy. With the technical expertise and experienced professional team in renewable energy business of Beijing Bioenergy, the Board believes that the subsidiary will be well-positioned to explore opportunities in the relevant business field