Xinneng Low Carbon (00145) subsidiary plans to cooperate with partner companies on photovoltaic projects and related trade matters in Guinea

Zhitong Finance App News, Xineng Low Carbon (00145) announced that on December 18, 2025, Xineng Engineering (China) Co., Ltd. (Xineng Engineering), a wholly-owned subsidiary of the company, signed a framework agreement with a company (partner company) registered in China. Based on this, the parties to the framework agreement agreed to cooperate on a photovoltaic solar power project (Guinea PV project) and related trade matters in a mining area operated by a Chinese company in Guinea.

The partner company agreed that Xineng Engineering will establish a special project operating company to operate the PV project in Guinea and sign a cooperation contract for the new energy project. The project company will be responsible for the overall planning, design, screening of engineering contractors and procurement of related equipment for the PV project in Guinea, and will act as a financing agent for the project to seek the necessary construction capital for the project from third parties in the market, including but not limited to effective project financing through the listing position of Xineng Engineering's parent company.

The contracting parties agree that after the completion of the PV project in Guinea, Xineng Engineering or the designated company of Xineng Engineering shall be responsible for the operation, management, maintenance and ensuring the normal supply of photovoltaic solar energy for the project. An annual service fee of 1.5% of the total investment amount will be charged. The total investment amount for the PV project in Guinea is initially estimated at about RMB 4 billion (based on actual investment expenditure), of which the capital investment is about RMB 1.3 billion. The financing will be carried out in accordance with the framework agreement.

The contracting parties agree that Xineng Engineering or a third party company designated by Xineng Engineering shall cooperate with partner companies in international trade with respect to bauxite, assist in processing international letters of credit, and arrange logistics and transportation-related services.

The partner company is a company incorporated in China, mainly engaged in investment and establishment of industrial business. According to the framework agreement, the partner company is the main shareholder (and the only authorized representative in China) of a company for a large-scale aluminum project in Guinea. The Group continues to work to help customers improve energy efficiency and reduce carbon emissions by providing innovative and sustainable solutions. The directors believe that the cooperation under the framework agreement allows the Group to use its accumulated experience in the field of energy saving solutions, which is in line with the company's business strategy and the overall interests of the company and its shareholders.

Furthermore, the Group expects the number of electric vehicles to grow rapidly, increasing demand for electric vehicle charging stations in Hong Kong, China. This trend will help the Group develop electric vehicle charging business. High-speed electric vehicle charging stations have recently begun testing and operation. The charging station can simultaneously service multiple electric taxis and private cars. This marks a further advance in the development of the electric vehicle charging business under the Group's Energy Saving Business Division. The company will continue to monitor market conditions and may consider further developing this business as appropriate.