CSG Energy Storage invests in new carbon-neutrality fund

CSG Energy Storage Co., Ltd. announced its participation as a limited partner in the newly formed Nanwang Gongrong Dual Carbon (Guangzhou) Private Equity Investment Fund Partnership, provisionally named "Nanwang Gongrong Fund." The company's proposed investment is up to 1.00 bn yuan, representing approximately 7.14% of the fund's total planned scale of 14.00 bn yuan. This investment is classified as a connected transaction due to joint investment with related parties controlled by China Southern Power Grid Co., Ltd.

The Nanwang Gongrong Fund, to be registered in Guangzhou, Guangdong Province, will focus its investments on significant infrastructure projects within new energy systems and power grids, national new energy storage innovation centers, and strategic emerging projects across the energy industry value chain. The investment aligns with national "dual carbon" goals and aims to optimize CSG Energy Storage's asset and profitability structures, enhancing sustainable development capabilities.

This transaction brings the cumulative transaction value with China Southern Power Grid and its controlled entities to 1.124 bn yuan in the past 12 months. This figure exceeds 5% of the company's latest audited net assets and will be submitted for shareholder approval. The investment is currently in the preparatory stage, with the partnership agreement yet to be finalized.