QILU EXPRESSWAY (01576) plans to establish a joint venture company to invest in the wind power mixed tower industrial base project.

QILU EXPRESSWAY (01576) announces that on January 9, 2025, the company entered into a capital contribution agreement with Zhengchen Technology. According to this agreement, the subscribed capital of the joint venture company at the time of establishment is 100 million yuan, with the company and Zhengchen Technology intending to make capital contributions of 51 million yuan and 49 million yuan respectively in cash. The joint venture company will invest in the target project (wind turbine tower industry base project). Wind turbine towers are structures that support wind turbines on towers, providing stronger support and a more stable structure, thereby increasing the efficiency and lifespan of wind turbines. Compared to all-steel tower structures, wind turbine towers have significant advantages in terms of economics, stability, and adaptability. The target project plans to operate using a "fixed station + temporary station" model. The fixed station is planned to be located at the Pingyin Smart Transportation Industry Base of QILU EXPRESSWAY (Shandong) Assembly Co., Ltd. (a subsidiary of the company) through leasing. This base is a standardized base for the research, development, and production of wind turbine towers, with a leased area of approximately 133.98 acres, including production areas, office and living areas, and supporting facilities. After leasing, the joint venture company will invest in purchasing production equipment, with an annual production capacity of 150 units after construction; while the temporary station will be constructed using a leasing temporary site and investing in purchasing mobile production equipment based on the location of the project. The implementation of the target project by the company will help to enhance the quality and efficiency of the company's sustainable and high-quality development, actively seize the opportunities in the new energy industry, cultivate new profit growth points for the company. The implementation of the target project will also help the company coordinate the promotion of green industry layouts and promote the development of new energy projects in line with policy directions, conducive to long-term development, and create a diversified and large-scale new energy industry cluster, achieving the enhancement and extension of the main industry chain.