Daitang New Energy announced on 28 December 2023 that it has entered into a joint venture with Daitang Power Station, Laurel Power, Daitang Environment and Oriental Research Institute to jointly fund the establishment of a joint venture company. The registered capital of the joint venture was RMB10 billion, Daitang New Energy invested 51%; Daitang Power and Laurel Power invested 12% each; the company invested US$1 million, 10%; Daitang Environment invested US$0.5 million, 5%; Oriental Research Institute invested US$1 million, 10%. The joint venture will be engaged in technological research and development related to new energy and energy clean and efficient transformation. As Daitang directly and indirectly holds approximately 65.61% of the issued share capital of the Company, this transaction constitutes a connected transaction but complies with all related transaction requirements under Chapter 14A of the Listing Rules and does not require the approval of independent shareholders. This joint venture will contribute to the company's technological innovation and green sustainable development and support the country's “dual-carbon” strategy.

Daitang New Energy announced on 28 December 2023 that it has entered into a joint venture with Daitang Power Station, Laurel Power, Daitang Environment and Oriental Research Institute to jointly fund the establishment of a joint venture company. The registered capital of the joint venture was RMB10 billion, Daitang New Energy invested 51%; Daitang Power and Laurel Power invested 12% each; the company invested US$1 million, 10%; Daitang Environment invested US$0.5 million, 5%; Oriental Research Institute invested US$1 million, 10%. The joint venture will be engaged in technological research and development related to new energy and energy clean and efficient transformation. As Daitang directly and indirectly holds approximately 65.61% of the issued share capital of the Company, this transaction constitutes a connected transaction but complies with all related transaction requirements under Chapter 14A of the Listing Rules and does not require the approval of independent shareholders. This joint venture will contribute to the company's technological innovation and green sustainable development and support the country's “dual-carbon” strategy.