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Yitong Century has made an announcement stating that Yaochu (Gongcheng) Energy Storage Technology, a subsidiary of its wholly-owned affiliate, is set to invest in and develop the initial phase of the Gongcheng Yaochu 200MW/400MWh Independent Shared Energy Storage Power Station project. This endeavor will take place in Gongcheng County, located in the scenic city of Guilin. The overall investment for this project is estimated to be around 430 million yuan, with financial resources stemming from the company's internal funds and those raised independently. The construction timeline for this project is projected to span 24 months. The primary objective of this investment is to penetrate the independent energy storage market, refine the company's industrial structure, and it is not anticipated to bring about any alterations to the scope of the consolidated financial statements.
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