Zhitong Finance App News, New Construction Co., Ltd. (002480.SZ) announced. According to previous announcements, the company signed a five-year “Strategic Cooperation Framework Agreement” with Neijiang Investment Holding Group Co., Ltd., Dalian Rongke Energy Storage Technology Development Co., Ltd., and Sichuan Xingxin Vanadium Technology Co., Ltd. (“Xingxin Vanadium”) on December 7, 2023. The company plans to lay out and develop vanadium battery-related businesses through cooperation with leading enterprises in the domestic vanadium flow battery energy storage industry.

In order to implement the agreement and business cooperation of the above agreement, the company and Xingxin Vanadium signed a “Joint Venture Agreement” in Chengdu, Sichuan Province on December 15, 2023. The two parties will jointly fund the establishment of Sichuan Xingxin Vanadium Energy Technology Co., Ltd. (provisional name, subject to approval and registration by the Ministry of Industry and Commerce, “target company” or “joint venture company”). The target company has a registered capital of 100 million yuan. The company invests 60 million yuan in currency, accounting for 60% of the shares, and Xingxin Vanadium invests 40 million yuan in currency, accounting for 40% of the shares.

This foreign investment is to implement the agreement and business cooperation of the “Strategic Cooperation Framework Agreement”. Through deep binding with Xingxin Vanadium, a well-known enterprise in the domestic vanadium battery electrolyte preparation industry, a joint venture, it has achieved complementary advantages and implemented vanadium flow battery electrolyte preparation business. This foreign investment is a concrete measure for the company to expand and extend to key links in the new energy industry chain. It is in line with the company's “advanced manufacturing+photovoltaics” main business position, and is expected to have a positive impact on the company's future financial situation and operating results.