【 Company News 】 Fu'an Group invests 320 million yuan to establish a joint venture and layout a gas turbine industry base

On September 9, 2025, Liaoning Fu'an Heavy Industry Co., Ltd. (stock code: 603315, referred to as "Fu'an Co., Ltd.") announced that its subsidiary Liaoning Fu'an Gas Turbine Co., Ltd. (referred to as "Liaoning Gas Turbine") will jointly invest with Leshan High tech Investment Development (Group) Co., Ltd. (referred to as "Leshan High tech Investment") and Leshan Characteristic Advantage Equity Investment Fund Partnership Enterprise (Limited Partnership) (referred to as "Leshan Equity Fund") to establish Sichuan Fu'an Gas Turbine Co., Ltd., aiming to fully build the Leshan Gas Turbine Manufacturing Base.

The registered capital of the newly established joint venture company is 620 million yuan, and the three party contribution method and shareholding ratio have been clearly defined. Among them, Leshan High tech Investment and Leshan Equity Fund each contributed 150 million yuan in monetary form, holding 24.1935% of the shares; Liaoning Gas Turbine invested 320 million yuan in physical, technological, and monetary forms, holding 51.613% of the shares and becoming the largest shareholder of the joint venture company. Subsequently, Leshan High tech Investment and Leshan Equity Fund may increase capital in proportion to the development needs of the joint venture company.

According to the operational plan of the joint venture, its core business will focus on the research and development, production, and sales of gas turbines below 50 MW, and will construct gas turbine component processing workshops, assembly workshops, complete integration workshops, and full load testing platforms. At the same time, the joint venture company will provide key components, installation, commissioning, and maintenance services for gas turbines, with the goal of organizing production and supplying gas turbine products globally. At the level of corporate governance, the board of directors of the joint venture company consists of five directors to ensure that all parties play to their respective strengths in business management.

The establishment of this joint venture company has significant strategic importance for the future development of Liaoning gas turbines. At the level of industrial layout implementation, the joint venture company's location in Leshan can fully rely on regional advantages and partner resources to accelerate the construction process of the gas turbine industry base, promote the transformation of core products with independent intellectual property rights such as 10MW and 4MW from technological achievements to industrialization, and quickly connect the key links of "technology capacity market".

On the long-term development level, through deep cooperation with local state-owned assets and funds in Leshan, the company can efficiently integrate multiple advantages - relying on the mature experience of various parties in industrial operation, resource integration capabilities in capital operation, and research and development reserves in technological innovation, further improving the layout of the gas turbine industry chain and enhancing the market competitiveness of core products.

In terms of strategic synergy value, this investment is precisely in line with the company's long-term development plan: on the one hand, it will help accelerate the industrialization process of gas turbines and seize the new round of development opportunities in the gas turbine industry; On the other hand, it will inject strong momentum into the company's continued deep cultivation in the field of high-end equipment manufacturing, laying a solid foundation for achieving sustainable development.