China Ruifeng Renewable Energy Holdings Ltd. (HK:0527) has released an update.
China Ruifeng Renewable Energy Holdings Ltd. has announced a RMB55.2 million capital injection into a new energy storage project, resulting in a 60% stake in the expanded registered capital of the target company. Funded by the group’s internal resources, this strategic move will see the group gain control over the newly consolidated entities, aimed at developing a 300MW/1.2GWh capacity project in Hebei Province. The capital increase will also result in the company’s consolidation of the target and project companies into its financial statements.
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