In order to promote the smooth implementation of Tongliao 10 million kilowatt scale zero carbon industrial park project, on November 4, 2022, China Tianying, through its wholly-owned subsidiary Inner Mongolia Tianying, signed a shareholders' agreement with Tongliao Xintong Energy Development, announcing the establishment of Inner Mongolia Tiantong Energy Co., Ltd.

The company is 80% owned by Inner Mongolia Tianying and 20% owned by Tongliao Xintong Energy Development. The business scope of the company mainly includes investment, construction and operation of wind power, solar photovoltaic power generation, gravity energy storage, hydrogen and ammonia production integrated industrial park, investment and construction of zero carbon industry equipment manufacturing center, initiation of Tongliao zero carbon industry fund and sub-fund groups, initiation and establishment of gravity energy storage research institute, green hydrogen research institute, green ammonia research institute, biomass energy research institute, and operation and management of zero waste and zero pollution in Tongliao city and countryside, as well as the construction of Tongliao carbon data management and monitoring platform and eastern Inner Mongolia zero carbon energy demonstration center around the zero carbon industrial park.

The establishment of this joint venture is the practical implementation of the "Strategic Cooperation Framework Agreement" signed between China Tianying, Tongliao Municipal People's Government and China Investment Association in early September, which will strongly promote the investment and construction of the zero carbon industrial park project, contributing to the achievement of the carbon targets for Tongliao.

China Tianying's zero carbon industrial park illustration