On June 17, Geelong announced that its subsidiary, Sichuan Shengtian New Energy Development Co., Ltd. (referred to as Shengtian New Energy), had been selected for the Xilong County Segel 200,000-kilowatt power supply and energy storage project (referred to as the "Xilong Project") and the Xiangcheng Zhengdou 400,000-kilowatt "1+N" photovoltaic project (I Standard) (referred to as the "Xiangcheng Project"). It intends to establish a project company as the investment subject of the Xilong and Xiangcheng projects.

(1) Shengtian New Energy intends to establish a wholly-owned subsidiary, Xilong Shengtian New Energy Co., Ltd., with a monetary capital contribution of 211.6 million yuan as the investment subject of the Xilong Project. (2) Shengtian New Energy intends to jointly establish Xiangcheng Shengtian New Energy Co., Ltd. with Ganzi Energy Development Group Co., Ltd. with a monetary capital contribution as the investment subject of the Xiangcheng Project. Xiangcheng Shengtian's registered capital is 388 million yuan, and Shengtian New Energy holds 71% of the shares, while Gan Energy Development holds 29% of the shares, and both parties contribute according to the proportion of shares.