On the evening of August 30, 2022, Guidong Electric Power released the "Announcement of Guangxi Guidong Electric Power Co., Ltd. on the Project Establishment, Survey, Design and Bidding of the Guangzhou Hezhou Pumped Storage Power Station Project". The company plans to invest in the construction of Guangtou Hezhou Pumped Storage Power Station Project (including access roads), and project-related work is being actively promoted. According to the project promotion plan, it is now necessary to establish the project and carry out survey and design bidding. The contents of this survey and design bidding include: pre-feasibility study, feasibility study, bidding design and procurement of survey and design in the construction drawing design stage. Guangzhou Investment's Hezhou pumped storage power station project has been listed as one of the key implementation projects of the "15th Five-Year Plan" by the National Energy Administration. According to the "Project Proposal" issued by Guangxi Electric Power Design and Research Institute Co., Ltd., the power station is located in Hezhou City, Guangxi In Butou Town, Babu District, the straight-line distance between the power station and Hezhou City is about 38km, and the straight-line distance from Wuzhou City is about 106km. The upper reservoir is located near Shiyangchong, Butou Town, and the lower reservoir is located near Yonghe Village, Butou Town.
It is still worthy of the attention of shareholders that on the evening of July 19, 2022, Guidong Electric Power issued an announcement stating that it had received the "Notification of Case Filing" from the China Securities Regulatory Commission today. The company was suspected of illegal information disclosure, and the China Securities Regulatory Commission decided to file a case against the company. Yu Qiang’s legal team at Shanghai Junlan Law Firm, which is engaged in representing securities claims cases, pointed out that they bought Guidong Electric Power before July 19, 2022, and sold or held Guidong Electric Power after July 20, 2022. The loss-making investors registered in the mini program [Yu Qiang Lawyer] to participate in collecting claims.
This month Guidong Electric Power also issued the "Guangxi Guidong Electric Power Co., Ltd. Litigation Announcement", disclosing the litigation situation. On August 24, 2022, the company received the "Notice of Case Acceptance" ((2022) Gui 1102 Minchu No. 3242) served by the People's Court of Babu District, Hezhou City and the "Summons from the People's Court of Babu District, Hezhou City, Guangxi Zhuang Autonomous Region" 》, the amount involved includes payment of 29,952,00 0 yuan and the payment of liquidated damages of 1,1691,142.77 yuan (the liquidated damages are temporarily calculated until April 30, 2022, and thereafter the liquidated damages are based on 29,952,000 yuan, with an annual interest rate of 11.5%, calculated from May 1, 2022 to the defendant until the debt is fully paid off).
