CNNC Titanium Dioxide: Jointly invested 100 million yuan to establish a joint venture with a subsidiary of Ningde Times

CNNC Titanium Dioxide issued an announcement on the evening of May 27.
In order to better implement the new requirements of the "dual-carbon" target and build a new green circular economy, the company signed the "Regarding the Establishment of a Joint Venture in Ningde, Fujian Province" with the holding subsidiary of Ningde Times.
"The Company’s Shareholders’ Agreement", the two parties jointly funded the establishment of Baiyin China Nuclear Times New Energy Co.
, Ltd.
to promote the investment, construction and operation of integrated smart new energy projects such as photovoltaics, wind power, and energy storage.
The registered capital of China Nuclear Times is 100 million yuan, of which, China Nuclear Titanium Dioxide subscribed 50 million yuan, accounting for 50% of the registered capital of China Nuclear Times; Times Yongfu subscribed capital of 50 million yuan, accounting for 50% of the registered capital of China Nuclear Times.
China Nuclear Titanium Dioxide stated that this foreign investment is based on the company’s implementation of the requirements of “carbon peak and carbon neutrality”, based on the decisions needed for future business development, and conforms to the company’s overall plan for building a green circular economy.
Long-term development and strategic layout have a positive impact.
The source of funds for this foreign investment is its own funds, and this foreign investment will not have a significant impact on the company's financial status and operating results this year.