GOLDENSOLAR (01121) announced that the company and its wholly-owned subsidiary, Shanyang County GOLDENSOLAR Technology Co., Ltd. (the target company), have entered into several agreements for the construction of a new heterojunction high-efficiency 0.2 million kilowatt Photovoltaic Technology power station project in Zhangjiakou, Hebei Province. The group has been allocated rights to develop the project in accordance with applicable laws in China, and the target company has been established to undertake this project.

The target company has entered into an engineering, procurement, and construction contract (EPC contract) for the project, with a contract value of approximately 0.9 billion yuan.

In addition, the company and the target company have entered into a legally binding letter of intent to sell all of the company's shares in the target company, intending to sell 100% of the target company to JNCEC Electric Power's Beijing branch for approximately 1 million yuan.

The announcement stated that the group will assist in the construction of the target company's 0.2 million kilowatt power station, including providing Photovoltaic Technology products.