Securities code: Ningbo Energy Group Co.Ltd(600982) securities abbreviation: Ningbo Energy Group Co.Ltd(600982) Announcement No.: pro 2022006 Ningbo Energy Group Co.Ltd(600982)
Announcement on signing letter of intent
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Special note: the letter of intent signed this time is only the text of the cooperation intention of the three parties to the agreement and does not constitute the basis for the three parties to investigate the liability for breach of contract. For the intention agreement, detailed feasibility demonstration and actual investment of the project have not been conducted yet. The specific construction scale and total planned investment of the pumped storage project involved in the letter of intent are only preliminary calculations. The investment scale and investment amount still need to be determined according to the subsequent feasibility study and further investigation and evaluation. Whether the project can be approved and implemented is uncertain. The projects involved in the letter of intent can only be implemented after the company obtains the approval of the board of directors, the general meeting of shareholders and the management department related to the project investment. The capital investment of pumped storage projects involved in the letter of intent is large, which is much higher than the current book monetary capital level of the company. At the same time, the project construction investment cycle is long, the source of funds and specific construction plan are not clear, and there is uncertainty Ningbo Energy Group Co.Ltd(600982) (hereinafter referred to as "the company") signed the letter of intent on investment and construction of Ningbo Fenghua pumped storage power station project with Ningbo Fenghua District People's Government (hereinafter referred to as "Ningbo Fenghua district government") and Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) Group East China survey, design and Research Institute Co., Ltd. (hereinafter referred to as "cpedi") on February 28, 2022. The details are as follows:
1、 Basic information on the signing of letter of intent
(I) basic information of partners
Party A: Fenghua District People's Government of Ningbo
Party B: Ningbo Energy Group Co.Ltd(600982)
Party C: Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) Group East China survey, design and Research Institute Co., Ltd
(II) relevant deliberation and decision-making procedures
This letter of intent is an agreement of intent for tripartite cooperation and does not need to be submitted to the board of directors or the general meeting of shareholders for deliberation. The company will continue to pay attention to all aspects of the situation and perform the corresponding decision-making procedures and information disclosure obligations according to the progress of the project in accordance with the relevant provisions of the stock listing rules of Shanghai Stock Exchange and the articles of association of the company.
(III) approval or filing procedures for signing the letter of intent
Signing this letter of intent does not require relevant approval or filing procedures.
2、 Main contents of letter of intent
(I) purpose of cooperation
In order to actively respond to the call of "carbon peaking and carbon neutralization", meet the needs of peak shaving, frequency modulation, accident standby and safe, economic and stable operation of power grid, transform local high-quality resources into economic development advantages as soon as possible, and jointly develop and construct Ningbo Fenghua pumped storage power station project in a scientific and orderly manner (hereinafter referred to as the "project") to achieve safety, environmental protection Energy conservation and other win-win development goals.
(II) project overview
The installed capacity of the project is about 1.2 million KW, and the investment is estimated to be about 8 billion yuan (the installed capacity and investment amount of the project are initially determined, which will be determined after the site selection planning report is finalized).
(III) cooperation content
Fenghua district government of Ningbo coordinates governments at all levels to do a good job in the red line adjustment and planning adjustment related to land, forest land, ecological and environmental protection involved in the project; Do a good job in the protection of station site resources; Assist the company and China Petroleum Exploration Institute in the preliminary preparation of the project (planning, pre feasibility, feasibility study, etc.).
The company and cpedi give full play to their advantages in capital, management and technology to promote the preparation and review of site selection planning, pre feasibility study, feasibility study and other reports of the project; Prepare the application for project initiation; Actively coordinate provinces and cities to provide policy support for planning, land and energy consumption indicators.
(IV) other agreements
This letter of intent is a framework letter of intent for tripartite cooperation. All parties understand that the specific contents involved in the cooperation shall be subject to the subsequent formal cooperation agreement. If the three parties fail to reach an agreement on cooperation matters and sign a cooperation agreement within 9 months after the signing of this letter of intent, this letter of intent will be automatically terminated.
(V) effectiveness of letter of intent
This letter of intent will come into force after being signed and sealed by representatives of all parties.
3、 Impact on the company
The projects involved in this letter of intent are in line with the company's development strategy of vigorously developing green energy industry under the background of "carbon peak and carbon neutralization", and also in line with the interests of all shareholders.
The signing of this letter of intent will not have a significant impact on the company's operating performance in 2022.
4、 Major risk tips
1. The letter of intent signed this time is only the text of the three parties' cooperation intention and does not constitute the basis for the three parties to investigate the liability for breach of contract. If the three parties fail to reach an agreement on cooperation matters and sign a cooperation agreement within 9 months after the signing of this letter of intent, this letter of intent will be automatically terminated.
2. The projects involved in this letter of intent have not yet carried out preliminary work such as pre feasibility study and preparation of feasibility study report. The detailed feasibility demonstration of the project has yet to be determined. At the same time, the project has not been included in relevant plans such as the national special plan for pumping and storage. There is uncertainty about whether the project can be approved and implemented.
3. The installed capacity and investment amount of the project involved in this letter of intent are only the estimates made by the three parties in combination with the situation of natural resources under the current conditions. The actual implementation may also change. The investment scale and investment amount still need to be determined according to the subsequent feasibility study and further investigation and evaluation.
4. The investment amount of the project involved in this letter of intent is large, which is much higher than the current book monetary capital level of the company. At the same time, the project construction investment cycle is long, the source of funds and specific construction plan are not clear, and there is uncertainty.
5. The projects involved in this letter of intent can only be implemented after the company obtains the approval of all the board of directors and shareholders' meeting related to the project investment and the approval of relevant management departments.
6. On November 15, 2021, the company signed the letter of intent for construction cooperation of Haishu Longguan pumped storage power station project with Ningbo Haishu District People's Government (hereinafter referred to as "Ningbo Haishu District government"). As of the date of this announcement, the projects involved in the letter of intent have not made substantial progress, and there are still major uncertainties in the implementation of the project. The company will carry out the work in an orderly manner and fulfill the obligation of information disclosure in time according to the early promotion of the two projects. The company will continue to pay attention to all aspects of the situation and perform the corresponding decision-making procedures and information disclosure obligations according to the progress of the project in accordance with the relevant provisions of the stock listing rules of Shanghai Stock Exchange and the articles of association of the company. Please pay attention to investment risks.
It is hereby announced.
Ningbo Energy Group Co.Ltd(600982) board of directors March 1, 2022
