Yuan Heng Gas (00332) to form electricity selling JV

    Yuan Heng Gas (00332) said it entered into a cooperation agreement with Guizhou Qiantong Investment Co., Limited and Guizhou Devotion Energy Technology Company Limited for formation of a jointly-owned company in relation to electricity selling in Guizhou.
  The JV will have a registered capital of Rmb201 million, of which Yuan Heng Gas will contribute Rmb102.5 million for a 51% interest in the JV.
  The business scope of the JV includes sale of electricity, investment in electricity projects, provision of consultancy and related auxiliary services in relation to power technology; wholesaling, sales and lease of electric equipment; provision of integrated energy supply, energy management contracts and related consultancy services; exploitation of distributed energy sources and related consultancy services, energy internet and research and development.
  Guizhou Qiantong is principally engaged in the business of clean energy and is a subsidiary of Guizhou Gas. Guizhou Devotion is a subsidiary of an integrated clean energy services company listed on the Shenzhen Stock Exchange, Guangzhou Devotion Thermal Technology Co., Ltd.