Orient Landscape faces lawsuit while expanding energy storage footprint

Beijing Orient Landscape & Environment announced its involvement in a significant lawsuit for alleged securities misrepresentation, with a claim amount of 170,022,100 yuan. The case, filed by Zhao Mouhong, is currently in the pre-trial stage. The company stated that any liabilities arising from events before November 22, 2024, will be settled according to its restructuring plan, mitigating impact on post-restructuring operations.

Concurrently, the company is expanding its new energy business. Its wholly-owned subsidiary, Dongfang Xinneng (Beijing) Enterprise Management Center, has partnered with Guoneng Rixin Technology Co. to establish Dongfang Xinneng (Beijing) Energy Storage Industry Development Co. The new entity will have a registered capital of 400,000,000 yuan, with Dongfang Xinneng Management contributing 240,000,000 yuan for a 60% stake and Guoneng Rixin contributing 160,000,000 yuan for a 40% stake.

This strategic investment aims to integrate the companies' strengths, enhance competitiveness, and create new profit growth points within the energy storage sector, aligning with the company’s long-term development strategy. The investment is funded by the company's own capital and is not expected to materially affect its financial position or operations.