Guangzhou Development Group expands solar power, revamps governance

Guangzhou Development Group Co., Ltd. announced an investment of CNY 58,330 million for the Xiushan Longfengba photovoltaic power generation (phase II) project in Chongqing. This follows the 2023 establishment of Xiushan Huifa New Energy Co., Ltd. and the 2025 completion of Phase I. The Phase II project will have an installed capacity of 150MW/205MWp, feature an "agriculture-forestry-solar" hybrid model, and include a new 110kV booster station.

Concurrently, the company is revising its Articles of Association, approved by the board on December 15, 2025. Key changes include converting "Shareholders' General Meeting" to "Shareholders' Meeting," eliminating the supervisory board, and reassigning its duties to the audit committee. The revisions also clarify decision-making authority for the Shareholders' Meeting and the Board of Directors, refine the roles of independent directors and specialized committees, and update various clauses to align with the latest "Company Law" and regulatory requirements. These changes aim to enhance corporate governance and protect shareholder interests.