DATANG POWER (00991) saw its shares rise more than 3% during the morning trading session. At the time of writing, the stock was up 1.04%, trading at HK$2.9 with a turnover of HK$119 million. The movement follows a recent announcement by the company that it has signed a capital contribution agreement with Jiangsu Guoxin Group and Ordos New Energy to establish a joint venture company with cash investments for the development and construction of the Mongolia Power to Jiangsu project. The joint venture will have a registered capital of RMB 10 billion. Under the agreement, DATANG POWER will contribute RMB 5.1 billion, Jiangsu Guoxin Group will contribute RMB 3.4 billion, and Ordos New Energy will contribute RMB 1.5 billion, representing 51%, 34%, and 15% of the joint venture's registered capital, respectively. The announcement stated that the company plans to build a large-scale energy supply base focused on desert, Gobi, and other arid regions. This initiative is a major measure to implement national strategic decisions, support China's goals of achieving peak carbon emissions and carbon neutrality, promote the transition to clean and low-carbon energy, and enhance energy security. Leveraging the new energy and coal resources in Inner Mongolia's Kubuqi Desert and surrounding areas, as well as Jiangsu Province's economic strength and industrial vitality, the partners' joint development of the Mongolia Power to Jiangsu project will fully utilize Inner Mongolia's role as a key national energy base and support Jiangsu's energy transition and low-carbon development.