Shenzhen VAPEL Power Supply Technology (SHE:301516) subsidiary Shenzhen Weiper Digital Energy will invest in the construction of a rooftop photovoltaic and energy storage charging station.
Shares fell 1% during the close of trading on Friday.
The subsidiary will make a joint investment with partner Shenzhen Yuhe Investment, according to a Thursday filing with the Shenzhen bourse.
Following the transaction, Weiper will boost the capital in Shenzhen Shenneng Zhiyuan Technology to 3 million yuan from 10,000 yuan.
Shenneng Zhiyuan will construct the rooftop photovoltaic and energy storage charging projects, which will be located in Weiper's own industrial park.