Hongsheng Huayuan announced that it plans to invest 63 million yuan to establish a wholly-owned subsidiary, Shaanxi Shengshi Jinyuan Electric Power Equipment Co., Ltd., registered in Xi'an, Shaanxi, which is mainly engaged in the manufacture of towers and steel structures. The company will inject 20.4 million yuan in cash and 42.6 million yuan in kind. The matter has been reviewed and approved by the 17th meeting of the 2nd board of directors. There is no need to submit it to the shareholders' meeting for consideration, and it does not constitute a related transaction or major asset restructuring. However, the establishment of a subsidiary requires registration and filing, and there is uncertainty about approval and future business conditions.

Hongsheng Huayuan announced that it plans to invest 63 million yuan to establish a wholly-owned subsidiary, Shaanxi Shengshi Jinyuan Electric Power Equipment Co., Ltd., registered in Xi'an, Shaanxi, which is mainly engaged in the manufacture of towers and steel structures. The company will inject 20.4 million yuan in cash and 42.6 million yuan in kind. The matter has been reviewed and approved by the 17th meeting of the 2nd board of directors. There is no need to submit it to the shareholders' meeting for consideration, and it does not constitute a related transaction or major asset restructuring. However, the establishment of a subsidiary requires registration and filing, and there is uncertainty about approval and future business conditions.