Zhitong Finance App News, Hunan Development (000722.SZ) announced that the company plans to use its own capital to invest in the establishment of a wholly-owned subsidiary Hunan Development Xiaochu Renewable Energy Co., Ltd. (tentative name) in Hengdong County, Hengyang City, Hunan Province to coordinate the development of new energy projects in the region, with a registered capital of 10 million yuan.

According to the announcement, the investment to establish a wholly-owned subsidiary is based on the company's need to promote the development of new energy projects, which will help the company focus on its core energy business position and strengthen and improve its core energy business.