ST Shenwu Energy Saving: Plans to invest 120 million yuan to establish a joint venture company

*ST Shenwu Energy Saving announced that the company plans to sign an "Investment Agreement for Low-Carbon Material Production Project" with the People's Government of Tongshan County, intending to invest 120 million yuan in the Nanlin Industrial Park of the Tongshan County Economic Development Zone. Shenwu Energy Saving, based on its actual shareholding ratio of 51%, is required to fulfill an actual investment amount of approximately 61.2 million yuan. To ensure the research and production project of recycled copper low-carbon materials, the company plans to jointly establish a holding subsidiary, Tongshan Shenwu Low-Carbon Material Technology Co., Ltd., with Tongshan Tongtai Supply Chain Co., Ltd. and Hubei Zhongyi Copper Industry Co., Ltd., with an expected registered capital of 10 million yuan, of which Shenwu Energy Saving will contribute 5.1 million yuan, accounting for 51%