TL Natural Gas (08536) signs a joint venture agreement with Huateng Power and Jiuyu Investment Holdings, aiming to enter the electricity billing market.

TL NATURAL GAS(08536) announced that on December 16, 2025, the company entered into a joint venture agreement with Huatai Power and Jiuyu Investment Holdings. The agreement pertains to the establishment of a joint venture company, after the completion of the capital increase, the joint venture company will be held by the Group, Huatai Power, and Jiuyu Investment Holdings with 51%, 24.5%, and 24.5% equity, respectively. The joint venture group will mainly engage in the management and operation of the off-grid power supply system and liquid-cooled supercharging station developed and deployed by Shenzhen Supercomputing Strength Technology in China (including but not limited to projects that are operational or under construction). As of the date of this announcement, the joint venture company has been registered and established in accordance with the joint venture agreement, indirectly owned by the company. The company will facilitate the establishment of a wholly foreign-owned enterprise in Shenzhen, China with a registered capital of RMB 5 million for the joint venture company. In accordance with the terms and conditions of the joint venture agreement, upon completion of the capital increase, the joint venture company shall issue a total of 2.94 million shares, with Huatai Power and Jiuyu Investment Holdings subscribing for a total of 2.47 million shares, with Huatai Power and Jiuyu Investment Holdings contributing 1.47 million Hong Kong dollars, respectively. The Board believes that the electricity charging market has promising development prospects. The establishment of the joint venture company will enable the Group to enter the electricity charging market with the resources of Huatai Power and Jiuyu Investment Holdings, especially considering that Huatai Power has extensive experience, professional knowledge, and outstanding performance in the management and operation of the off-grid power supply system and liquid-cooled supercharging station in China's methanol hydrogen fuel cell market.