China Gas (00384) announced that on December 6, 2024, Smart Energy (a wholly-owned subsidiary of the company), Liangchuang, and DragonMedia entered into a joint venture agreement to establish a joint venture company to invest, develop, and operate biomass energy-related projects. After its establishment, the joint venture company will become a subsidiary of the company, and its financial performance will be consolidated into the group's financial statements. Smart Energy, Liangchuang, and DragonMedia will contribute 0.3 billion yuan, 0.15 billion yuan, and 50 million yuan respectively.

The establishment of the joint venture company is a strategic initiative of the group. The joint venture will focus on biomass energy and sustainable energy solutions, marking a new chapter for the group in the energy sector. Due to the renewable nature, environmental friendliness, abundant reserves, and low carbon emissions of biomass energy, it will occupy an important position in the future green energy market. The United Nations Environment Programme has continuously emphasized the role of biomass energy in replacing non-renewable materials and fossil fuels.