SDHS NEW ENERGY (01250): Joint venture company proposes to issue A shares to a subsidiary of the controlling shareholder.

SDHS NEW ENERGY (01250) and SDHG (00412) jointly announced that Shandong High Speed Renewable Energy Group Co., Ltd. (Shandong High Speed Renewable Energy), a joint venture company indirectly owned by SDHS NEW ENERGY Group holding 23.94% equity, held its 21st meeting of the 11th Board of Directors on July 16, 2025. The meeting approved the proposals, including (i) the proposal to issue A-shares to a specific entity, Shandong Hi-speed Industrial Investment Co., Ltd. (Hi-speed Investment), and (ii) the proposal for Shandong High Speed Renewable Energy to enter into a subscription agreement with Hi-speed Investment (a wholly-owned subsidiary of Shandong Hi-speed Group Co., Ltd. (Shandong Hi-speed Group), which is a controlling shareholder of SDHG and an indirectly controlling shareholder of SDHS NEW ENERGY). In accordance with the proposal to issue A-shares, subject to approval by the Shenzhen Stock Exchange and registration approval by the China Securities Regulatory Commission within the specified effective period, and approval by the shareholders' meeting of Shandong High Speed Renewable Energy, Shandong High Speed Renewable Energy will issue no more than 140 million common shares (A-shares) to Hi-speed Investment. These shares will be listed and traded on the Shenzhen Stock Exchange, with a par value of RMB 1.00 per share (not exceeding 30% of Shandong High Speed Renewable Energy's total share capital before the proposed A-share issuance). The shares subscribed by Hi-speed Investment in the proposed A-share issuance will be subject to a lock-up period of 36 months from the date of issuance. The total proceeds from the proposed A-share issuance will not exceed RMB 718 million. After deducting relevant issuance expenses, it is expected that the funds will be used to supplement the working capital of Shandong High Speed Renewable Energy and repay its bank loans.