Hangyang Limited plans to invest in the establishment of a hydrogen energy joint venture company

Hangyang Limited plans to establish a joint venture with Luoyang Longze Energy and Shanghai Qinfeng, with a registered capital of 15 million yuan. Hangyang Limited will invest 7.65 million yuan, accounting for 51%; Longze Energy will invest 5.85 million yuan, accounting for 39%; Shanghai Qinfeng will invest 1.5 million yuan, accounting for 10%. This move aims to leverage the opportunities in the domestic hydrogen energy industry, enrich the variety of gas products, and enhance the company's overall strength in the hydrogen energy sector

According to the announcement from Zhitong Finance APP, Hangyang Limited (002430.SZ) plans to establish a joint venture company with Luoyang Longze Energy Co., Ltd. (hereinafter referred to as "Longze Energy") and Shanghai Qinfeng Energy Technology Co., Ltd. (hereinafter referred to as "Shanghai Qinfeng") — Luoyang Hangyang Longze Hydrogen Energy Co., Ltd. (tentative name, subject to the final name approved by the local market supervision and administration bureau), with a registered capital of 15 million yuan. Among them, the company will contribute 7.65 million yuan, accounting for 51%; Longze Energy will contribute 5.85 million yuan, accounting for 39%; and Shanghai Qinfeng will contribute 1.5 million yuan, accounting for 10%.

This investment is based on the development opportunities of the domestic hydrogen energy industry, combined with the high-quality resources of Longze Energy and Shanghai Qinfeng in their respective industries, to further incubate the company's hydrogen energy industry chain, enrich the company's gas product categories, adjust the company's gas product structure, enhance the company's comprehensive strength in the hydrogen energy industry, and promote the overall improvement of the company's development level