playngo| Zhonghuan New Energy (01735.HK): Subsidiary signed a cooperation framework agreement with Sunshine New Energy

Gelonghui May 26 丨 Zhonghuan New Energy (01735playngo.HK) announced that on May 25, 2024, Sunshine New Energy Development Co., Ltd.(Sunshine New Energy) and Zhonghuan Low Carbon New Energy (Anhui) Group Co., Ltd.(Zhonghuan Low Carbon, CompanyplayngoAn indirect wholly-owned subsidiary of the company) signed a cooperation framework agreement. According to the agreement, the two parties plan to strengthen the strategic cooperative relationship between the two parties, expand the scale of cooperation, enrich cooperation content and innovate cooperation mechanisms.

The Group currently has five major business segments, namely green buildings and construction-related businesses; new energy and engineering, procurement and construction; intelligent energy management services; health and wellness; and food and beverage supply chain. The board believes that the cooperation framework considered and outlined in the agreement will allow the group to leverage its experience and capabilities in the development and operation of new energy projects. The Board also believes that this cooperation, especially in the areas of centralized power stations, battery modules and joint photovoltaic innovation laboratories, can expand the Group's business opportunities, broaden its revenue sources and enhance its financial results. Therefore, the board of directors believes that the cooperation with Sunshine New Energy will be conducive to the future development of the group and will be in line with the overall interests of the company and its shareholders.