According to the joint venture agreement, the registered capital of the joint venture company is RMB 59 million, of which the company contributes RMB 23.6 million in cash, accounting for 40% of the registered capital of the joint venture company; Datang Renew Hong Kong contributes RMB 14.75 million in cash, accounting for 25% of the registered capital of the joint venture company; Datang Hainan contributes RMB 20.65 million in cash, accounting for 35% of the registered capital of the joint venture company.

Establishing the joint venture company to promote the development of the Wenchang storage project is in line with the national and corporate renewable energy development strategy. The project integration program is clear and there is no obvious development risk; the project development and construction are in line with the energy structure adjustment and sustainable development needs of Hainan Province, as well as the local economic development needs. The local government strongly supports the project, which is conducive to promoting high-quality development of the company.

Zhixin Finance app reported that Datang Renew (01798) announced that on June 14, 2024, the company, Datang Renew Hong Kong and Datang Hainan signed a joint venture agreement, which includes jointly investing to establish a joint venture company to develop the Wenchang storage project.