On October 13, Gelunhui reported that jiangsu huasheng tianlong photoelectric (300029.SZ) announced that in order to promote the development of new energy related business in Yingkou City, Liaoning Province, the company established a wholly-owned subsidiary, Liaoning Guosheng Energy Development Co., Ltd. (referred to as "Liaoning Guosheng"), in Yingkou City on September 24, 2024, with a registered capital of RMB 5 million.

In the process of advancing related work, in order to ensure the steady progress of subsequent work and to diversify the risks in the business development process, the company introduced an associate, Peking Yuli Investment Management Co., Ltd. (referred to as "Peking Yuli"), with Peking Yuli injecting RMB 85 million into Liaoning Guosheng. After the capital increase, the registered capital of Liaoning Guosheng is RMB 90 million, with the company's shareholding ratio at 5.56% and Peking Yuli's shareholding ratio at 94.44%.