On February 21, Gelonghui Energy (001299.SZ) announced that based on the company's strategic plan and future business development needs, the company plans to establish a wholly-owned subsidiary Shanghai Meineng Green Low Carbon Industry Investment Co., Ltd. (tentative name, subject to the final registration of the market supervision and management department) with a registered capital of 10 million yuan. At the same time, the board of directors authorized the company's management to handle matters related to this foreign investment.

This investment is a careful decision made by the company based on overall strategic planning and business operation needs. Its main purpose is to establish an investment platform for the company to transform and upgrade to green and low-carbon industries such as smart energy, integrated energy, energy saving services, new energy, and new materials. It will help the company attract the implementation and implementation of technological achievements, absorb all kinds of high-quality talents, cultivate and improve talents, and acquire business resources and develop and win with partners.