In order to actively respond to the national industrial policy requirements for photovoltaic, energy storage, and multi energy complementary development, on June 5, 2023, Shanghai Tianchen Co., Ltd. announced that it plans to sign a project investment contract with the People's Government of Fanchang District, Wuhu City to invest in the construction of a new energy industry base integrating photovoltaic and energy storage, with a total planned investment of 11.6 billion yuan.

This project is located in the Fanchang Economic Development Zone and plans to build a new 20GW high-efficiency solar cell, 20GW energy storage converter, and integrated manufacturing project for energy storage systems. The project is divided into two phases, with the first phase constructing a 5GW high-efficiency solar cell+6GW energy storage converter and integrated manufacturing production line for energy storage systems. The first phase plans to invest 3.6 billion yuan. The total planned land area is about 660 acres, of which the first phase has a planned land area of about 300 acres and the second phase has a planned land area of about 360 acres.

Tianchen Group plans to acquire 15% of the equity held by a minority shareholder of its controlling subsidiary Shanghai Tianchen Health Management Co., Ltd. Among them, Shanghai Kexun Investment Management Co., Ltd. holds 8.25% of Tianchen Health's shares, and Shanghai Fengying Enterprise Development Co., Ltd. holds 6.75% of Tianchen Health's shares. After the completion of this transfer, our company will hold a total of 100% equity in Tianchen Health. Editor/Zhao E