Xinwangda (300207.SZ) subsidiary plans to cooperate with Yuanzhi Gangxin Wisdom Energy Industry Fund to invest in energy storage power stations development direction.

According to the Zhitong Financial APP, Xinhua Communications (300207.SZ) announced that its wholly-owned subsidiary, Shenzhen Qianhai Hongsheng Entrepreneurship Investment Service Co., Ltd. (referred to as "Qianhai Hongsheng"), plans to sign a "Shenzhen Yuzhi Gangxin Smart Energy Industry Investment Private Equity Fund LP Enterprise (Limited Partnership) Partnership Agreement" with general partner Shenzhen Yuzhi Energy Storage Private Equity Fund Management Co., Ltd. (referred to as "Yuzhi Energy Storage"), limited partner Shenzhen New Energy Storage Industry Equity Fund LP Enterprise (Limited Partnership) (referred to as "New Energy Storage"), and limited partner Honghua Energy Investment Co., Ltd. (referred to as "Honghua Energy"). The four parties plan to jointly invest in the Shenzhen Yuzhi Gangxin Smart Energy Industry Investment Private Equity Fund LP Enterprise (Limited Partnership) (referred to as "Yuzhi Gangxin"), with a total subscribed capital of 300 million yuan. Among them, Qianhai Hongsheng's subscribed capital is 60 million yuan, accounting for 20%; New Energy Storage's subscribed capital is 147 million yuan, accounting for 49%; Honghua Energy's subscribed capital is 90 million yuan, accounting for 30%; and Yuzhi Energy Storage's subscribed capital is 3 million yuan, accounting for 1%. The professional investment institution Yuzhi Energy Storage will serve as the private fund manager of Yuzhi Gangxin. The investment direction is mainly focused on investing in companies operating industrial and commercial energy storage power station projects in China.