Haiwei Co., Ltd. (09609): Sunshine Hydrogen Energy's holdings were diluted to 0.2769% after completing a new round of financing

According to the Zhitong Finance App, Haiwei Co., Ltd. (09609) issued an announcement announcing the latest progress on the Group's investment in Sunshine Hydrogen Energy Technology Co., Ltd. (“Sunshine Hydrogen Energy”). On April 17, 2026, the Company entered into a share purchase agreement with Sunshine Hydrogen Energy, all of its current shareholders and two other independent investors. Based on this, the Company agreed to subscribe for 1.154 million newly issued shares of Sunshine Hydrogen Energy at a total consideration of RMB 20 million, accounting for approximately 0.2825% of its expanded share capital. The consideration for investment matters is determined by all parties concerned after fair negotiations. Among them, consideration has been given (including) the business development and prospects of Sunshine Hydrogen Energy, the prospects of the industry in which it operates, its financial situation, and the relevant valuation of previous rounds of financing and the company's participation in this round of financing. The investment was completed on April 28, 2026 in accordance with the terms of the relevant share purchase agreement.

Sunshine Hydrogen Energy is a professional hydrogen energy equipment manufacturer established in China in 2021. It is a subsidiary of Sunshine Power Co., Ltd. (“Sunshine Power”). Sunshine Power is a leading company in the global new energy industry, and its shares are listed on the Shenzhen Stock Exchange (stock code: 300274). Sunshine Hydrogen Energy focuses on hydrogen production technology by electrolysis of water. Its main products include alkaline electrolyzers, PEM electrolyzers, PWM hydrogen power supplies, gas-liquid separation equipment, hydrogen purification equipment, and intelligent hydrogen management systems.

As a hydrogen energy equipment manufacturer, Sunshine Hydrogen Energy's business is in the downstream application field served by the Group's capacitor film products. Therefore, it is expected that the investment will promote closer cooperation between the Group and Sunshine Hydrogen Energy along the industrial value chain, support the expansion of the Group's capacitor film sales, and strengthen the long-term strategic relationship between the two parties. As a subsidiary of Sunshine Power, Sunshine Hydrogen Energy benefits from Sunshine Power's R&D capabilities and industry resources. It is expected that these capabilities and resources will support the continuous development of its business and create further opportunities for cooperation with the Group. Considering the long-term development prospects of the green hydrogen industry, the investment matters also provide the Group with an opportunity to benefit from the potential added value brought by Sunshine Hydrogen Energy's future business development. After considering the above factors, the board of directors believes that the terms of the investment matters are made in accordance with normal commercial terms after fair negotiations, and that the consideration for the investment matters is fair and reasonable, and conforms to the overall interests of the company and its shareholders.

On August 10, 2026, Sunshine Hydrogen Energy completed a new round of financing, and the company did not participate. After the completion of this round of financing, the implied post-investment valuation of Sunshine Hydrogen Energy increased by about 2.0% to about RMB 7,223 million compared to the time of investment, while the company's shares in Sunshine Hydrogen Energy were slightly diluted to about 0.2769%.