SUNSHINE OIL has signed a non-binding cooperation framework agreement with China Southern Power Grid Energy Efficiency & Clean Energy in 2012.

SUNSHINE OIL (02012) announced that its Board of Directors is pleased to announce that on November 24, 2025, its wholly-owned subsidiary, Sangxiang Petrochemical (Shanghai) Co., Ltd., entered into a non-binding cooperation framework agreement with China Southern Power Grid Energy Efficiency & Clean Energy. According to the framework agreement, both parties will collaborate on new energy projects in Shandong and Guangdong regions of China, including but not limited to carbon reduction, energy efficiency, heating, cooling, and new energy. The company will be responsible for project resource reserves, preliminary supportive document processing, preliminary project assessment, and preliminary development. China Southern Power Grid Energy Efficiency & Clean Energy will take the lead in project financing, project construction management, and power plant production and operation. The Board of Directors expects that the framework agreement will help the company achieve diversified development in its energy business portfolio.