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China Southern Power Grid Energy Storage: Plans to Invest 7.379 Billion Yuan in Constructing Guangdong Xinfeng Pumped-Storage Power Station
On March 16, Nanjing Power Storage (600995.SH) announced that the company plans to invest in the construction of the Guangdong Xinfeng Pumped Storage Power Station, with a planned installed capacity of 1.2 million kilowatts and a total dynamic investment of approximately 7.379 billion yuan, of which 20% is project capital and 80% is bank loans.
Nanjing Power Storage stated that investing in the Guangdong Xinfeng Pumped Storage project aligns with the company’s strategic layout and planning goals, and will help further expand the company’s main business and enhance its core competitiveness. This investment will not have a significant impact on the company’s income or profits for this year, and there are no circumstances that would harm the interests of the company and all shareholders, especially minority shareholders.
The company also reminds that as of the date of this announcement, the total external investments over the past 12 months have reached 50% of the company’s latest audited net assets, and this investment still requires approval from the shareholders’ meeting.
(Company Announcement)