Roan Holdings Enters into Investment Cooperation Agreement for New Energy Storage Project

Roan Holdings Group Co., Ltd. announced that the Company has entered into an investment cooperation agreement for a new energy storage industrial park with Jiaxing economic and Technological Development Zone.

June 09, 2022. By News Bureau

Roan Holdings Group Co., Ltd. announced that the Company has entered into an investment cooperation agreement for a new energy storage industrial park with Jiaxing Economic and Technological Development Zone.

Pursuant to the Agreement, the new energy storage industrial park would consist of an innovation and research center and two manufacturing facilities for new energy storage. The total investment is expected to be RMB 5.1 billion.

Jiaxing Committee has agreed to provide certain types of support to the project, including favorable government policy support, funding support and resources. Roan will be responsible for the implementation and operation of Jiaxing Project pursuant to the Agreement.

Mr. Junfeng Wang, Chairman of the Board commented, "We are very excited to announce this cooperation with the Jiaxing Economic & Technological Development Zone, which not only marks a breakthrough and significant milestone of our strategic planning since the second half of 2021 but also demonstrates the success of the strategic leadership of our industrial operation services team which focuses on new energy, new materials and semiconductor industries. As a comprehensive service provider of industrial capital and industrial operation in emerging industries, Roan regards the new energy industries as a key business area in the market. We will adhere to the development concept of 'synergy between industry, finance and symbiosis of partners', and build stable growth and a sustainable industrial ecosystem with our partners."

Mr. David Zhang, Executive President of the Company added: "The Jiaxing Project is important to the Company. This project will centrally and efficiently combine all the resources around energy storage, from materials to batteries, and equipment manufacturing. It is expected to take the lead in driving the development of the energy storage industry in the Yangtze River Delta region and become a model for the development of the new energy industry. The favorable policy, financial and resource assistance from the Jiaxing government shows significant support for the project. We aim to take advantage of our industrial financing service capability, our experience and resource advantages to provide industrial financing and operation services for all parties in the industrial park, bringing economic and social benefits to Jiaxing city, and creating sustainable financial returns for our shareholders."

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