TL NATURAL GAS (08536) plans to establish a joint venture with Huat Power and Shuiyang for business.

TL Natural Gas (08536) announced that on November 3, 2025, the company entered into a memorandum of understanding with Huateng Power (China) Limited (Huateng Power) and Shuiyang regarding the proposal to establish a joint venture. As such, the contracting parties have agreed to jointly establish a joint venture to engage in the management and operation business of the off-grid power supply system using methanol hydrogen fuel cells and liquid-cooled supercharging stations (including but not limited to projects already operational or under construction) developed and deployed by Shenzhen Supercomputing Digital Technology Co., Ltd. and Huateng Power nationwide. According to the memorandum of understanding, it is proposed that the joint venture be held 51% by the company, 24.5% by Huateng Power, and 24.5% by Shuiyang. More details about the operating plan and the proposal to establish a joint venture will be announced after the formal agreement is signed. The Group mainly engages in the sale of compressed natural gas and liquefied natural gas, as well as providing transportation services in China. The directors believe that the proposal to establish a joint venture will enable the Group to enter the electricity charging market, thereby generating additional income for the Group.