Investment Overview
Liaoning Aoke Chemical Co., Ltd. (hereinafter referred to as "Aoke" or "the Company") recently signed a Joint Venture Cooperation Agreement with Jituo Energy (Jiangsu) Co., Ltd. (hereinafter referred to as "Jituo Energy") to jointly establish a joint venture company named Jituo Chemical Energy (Jiangsu) Co., Ltd. (the final name subject to approval by the industrial and commercial department, hereinafter referred to as "the Joint Venture"). The Company plans to invest RMB 6.3 million in cash, holding 45% equity in the Joint Venture, which will become an associate subsidiary of the Company. The Joint Venture aims to provide EPC (Engineering Procurement Construction), EMC (Energy Management Contract), and technical consulting services for supercritical CO2 energy storage and power generation systems in the chemical industry. Aoke will leverage its resources and industrial advantages in the chemical field, while Jituo Energy will contribute its core technologies and intellectual property accumulated in this field, jointly creating a verification project for supercritical CO2 energy storage and power generation in the chemical industry. According to the Shenzhen Stock Exchange GEM Listing Rules and other relevant laws and regulations, as well as the Company's Articles of Association, this external investment is within the decision-making authority of the Company's chairman and does not require submission to the board of directors or shareholders' meeting for approval. This external investment does not constitute a related party transaction as defined by the Listing Rules, nor does it constitute a major asset reorganization as defined by the Major Asset Reorganization Management Measures for Listed Companies.