Xinwangda announced that its wholly-owned subsidiary, Qianhai Hongsheng, plans to jointly invest with Yuanzhi Energy Storage, New Energy Storage, and Hong Kong and China Energy to establish Shenzhen Yuanzhi Hongxin Smart Energy Industry Investment Private Equity Fund Partnership (Limited Partnership). The fund has subscribed RMB 300 million, of which Qianhai Hongsheng has subscribed RMB 60 million, representing a 20% stake. The fund will primarily invest in companies operating commercial and industrial energy storage power station projects in China. This investment, funded by the company's own capital, will not have a material adverse impact on the company's current or future financial condition and operating results.