SSET plans to establish a joint venture with Shudao Group and Toyota of Japan to build a hydrogen fuel cell system production line, creating a new growth point

According to the Zhitong Finance APP, SSET (300540.SZ) announced that the company plans to jointly establish Sichuan Toyota Hydrogen Energy Technology Co., Ltd. with Sichuan Group and Toyota of Japan through cash contributions. The registered capital of the joint venture is 236 million yuan, with the company holding 45%, Sichuan Group holding 5%, and Toyota of Japan holding 50%. Sichuan Group intends to delegate the voting rights of its 5% equity in the joint venture to the company, and the joint venture will be included in the company's consolidated financial statements. The joint venture is proposed to be registered in the Qingbaijiang District of Chengdu and will engage in the production, sales, after-sales service, and development of hydrogen fuel cell systems, hydrogen fuel cell stacks, and components. Multiple parties will build a production line for hydrogen fuel cell systems to achieve research and development, production, sales, and after-sales service of hydrogen fuel cell (FC) systems, FC stacks, and key core components, creating an intelligent manufacturing base for hydrogen fuel cells.

The announcement stated that the establishment of the joint venture is beneficial for forming a development synergy between the company and leading global enterprises in the hydrogen energy industry. Through deep equity cooperation, it will create complementary key market resources and cutting-edge core technologies, making it an important measure for the company to implement its medium- to long-term hydrogen energy development strategy. This event is conducive to creating new growth points for future performance and improving the quality of the listed company