NBEG: Plans to invest 58.5 million yuan to establish a company to expand new quality productivity

Ningbo Energy announced that the company's eighth board of directors, at its thirty-fifth meeting, approved a proposal for external investment to establish a joint venture company. It will jointly establish Yongneng Technology with Ningbo Shenju, Hailiang Capital, and Shanghai Jize at a ratio of 39%, 31%, 15%, and 15%, respectively. The registered capital is 150 million yuan, and the company will contribute 58.5 million yuan in cash from its own funds. Yongneng Technology's business scope involves mineral mining, processing, and petroleum products-related businesses. The company will recommend three directors, and the operating vice president will be recommended by them; Ningbo Shenju will recommend the general manager and the technical vice president. This investment will not be included in the consolidated financial statements and has no adverse impact, but the operation of the target company is subject to uncertainties due to multiple factors