Saving the country through curves? Maoshuo invests 1 billion yuan in photovoltaic power generation project

Maoshuo Power recently announced that the company's controlling subsidiary Shenzhen Maoshuo New Energy Technology Co., Ltd. (hereinafter referred to as "Maoshuo New Energy") and the People's Government of Tongxin County, Ningxia Hui Autonomous Region have signed an "Investment Cooperation Agreement". Xin County invests and develops photovoltaic power generation projects in the country, with a total investment of 1 billion yuan, a power plant construction scale of 100 megawatts, a construction land of 3,000 acres, and a construction period of 2 years (2015 to 2016); including 50 megawatts in 2015 and 50 megawatts in 2016.

Maoshuo New Energy is the holding subsidiary of Maoshuo Power, and the company holds 91.2377% of its equity. It is understood that Maoshuo New Energy is mainly engaged in the technical development and sales of industrial control equipment, industrial automation software, solar photovoltaic inverters, sales of electronic power equipment, other domestic trade, and import and export operations. As of January 2014, the company's audited assets totaled 41,649,092.20 yuan, and its net assets were 26,069,775.11 yuan. In 2014, it achieved operating income of 25,136,453.19 yuan and a net profit of -3,103,324.39 yuan.

Maoshuo Power said that the signing of this agreement will help the company to quickly and effectively expand its photovoltaic power generation business in the future, conform to the company's development needs and long-term planning, and is conducive to the realization of the company's strategic goals. Since the photovoltaic power generation project is still in the preparation stage, there are certain uncertainties in the construction progress of this agreement due to factors such as policy environment, land acquisition or force majeure, which will not have an impact on the company's operating conditions in the short term.