Haichen Energy Storage signed a strategic cooperation agreement with Xiamen Bank and obtained an indicative comprehensive credit line of no less than RMB 8 billion

On March 17, Xiamen Haichen Energy Storage Technology Co., Ltd. (Haichen Energy Storage) and Xiamen Bank Co., Ltd. (Xiamen Bank) signed a strategic cooperation agreement. The two parties agreed to build a long-term strategic partnership. Xiamen Bank will provide Haichen Energy Storage with an indicative comprehensive credit line of no less than RMB 8 billion in the next five years.

Haichen Energy Storage co-founder and general manager Wang Pengcheng and Xiamen Bank Party Committee Deputy Secretary and Supervisor Chairman Zhang Yonghuan witnessed the signing, and Haichen Energy Storage Director and Deputy General Manager Pang Wenjie and Xiamen Bank Vice President Liu Yongbin signed the contract on behalf of both parties.

According to the agreement, in order to further expand the scope of cooperation, in line with the principles of "honesty, mutual benefit, complementary advantages, and resource sharing", Xiamen Bank will make full use of its service resources and product advantages to set up a special service team to provide a package of comprehensive financial services for the development of Haichen Energy Storage. The cooperation includes Xiamen Bank's intention to provide Haichen Energy Storage with a total of no less than 8 billion yuan in comprehensive credit lines in the next five years, as well as policy preferences and priority support in fund management, cross-border business, investment banking, supply chain financing, and personal financial business.

Xiamen Bank was established in 1996. It is the first city commercial bank with Taiwanese background in mainland China and the first listed city commercial bank in Fujian Province. With the mission of serving the real economy, it continues to increase its support for the real economy such as manufacturing, technological innovation, and green development. It currently has 111 modern business outlets, and its business areas cover Fujian Province and Chongqing City.

The cooperation with Xiamen Bank once again demonstrates the financial institutions' high recognition of Haichen Energy Storage's comprehensive strength and future growth potential, and provides solid financial guarantee for Haichen Energy Storage's continued stable operation and rapid development. It also reflects the commercial banks' active support for the development of the energy storage industry, and will continue to help Xiamen's new energy industry develop with high quality.