CSG Energy Storage secures strategic investors for pumped-storage subsidiaries

CSG Energy Storage Corporation is set to welcome strategic investors for two of its pumped-storage power generation subsidiaries. Guangdong Strategic Industrial Development Fund (Limited Partnership) will invest 120,000.00 yuan in Zhaoqing Langjiang Pumped-Storage Power Generation Company Limited, increasing its registered capital. Following this, CSG Energy Storage’s stake in Zhaoqing Langjiang will be 54.2029%.

Additionally, Guangdong Industrial Financial Hengmao Equity Investment Partnership (Limited Partnership) will invest 76,800.00 yuan in Maoming Pumped-Storage Power Generation Company Limited, raising its registered capital. Post-investment, CSG Energy Storage's subsidiary, CSG Peak-Shaving and Frequency Regulation Power Generation Company Limited, will hold a 69.6640% stake in Maoming Company. These transactions are classified as related party transactions due to Guangdong Hengjian Investment Holdings Co., Ltd.'s indirect stake in both funds and its director also serving on CSG Energy Storage’s board.

Further, CSG Energy Storage has projected its 2026 daily related party transactions not to exceed 414,100.00 yuan, including services and product sales to various subsidiaries of China Southern Power Grid. This also covers financial services with China Southern Power Grid Finance Co., Ltd., with a maximum daily deposit limit of 700,000 yuan and a comprehensive credit line of 4,000,000 yuan.