According to the Zhitong Finance App, HKUST Intelligence (300222.SZ) announced that the company's holding subsidiary HKUST Digital (Shanghai) Energy Technology Co., Ltd. (“Digital Energy”) will jointly invest Ningbo Yuge and Ningbo Boller to establish a joint venture with a registered capital of RMB 10 million, of which Digital Energy invested 5.1 million yuan from its own capital, accounting for 51% of the total registered capital.

The target company is mainly engaged in photovoltaics, energy storage and other related businesses. Digital Energy is mainly responsible for the R&D, production and domestic market sales of photovoltaic energy storage products of target companies, while Ningbo Yuge and Ningbo Bohler are mainly responsible for overseas market sales of photovoltaic energy storage products of target companies.

The announcement said that the company's holding subsidiary has now jointly established a new operating platform with a third party, which is conducive to giving full play to the company's advantages in related technologies in the field of new energy, promoting the industrialization of the company's new technologies and products, and at the same time using the third party's overseas market resources to accelerate the comprehensive expansion of the company's photovoltaic and energy storage business.