China Power (02380) subsidiary Weifang New Energy has separately entered into three independent EPC contracts with China Nuclear Institute and Shandong Institute.

China Power (02380) announced that on February 13, 2026, Weifang New Energy (an indirectly non-wholly owned subsidiary of the Company) entered into three separate independent general contracting agreements with the National Nuclear Institute and the Shandong Institute. According to these contracts, the contractors will provide general contracting services for the development of the Phase I project in Lubo North, constructing photovoltaic and wind power facilities, a substation, and connecting transmission lines, with a total cost of RMB 768 million (approximately equivalent to HKD 863 million). The integrated wind and energy storage base at Yantian tide flats in Lubo North, Weifang City, Shandong Province, adopts a complementary model of "photovoltaic and salt field" to achieve synergistic development. By setting up power generation equipment above the salt fields for photovoltaic and wind power generation, this project not only maintains traditional salt production functions but also significantly improves land use efficiency compared to conventional renewable energy projects. After completion of the project, it is expected to strengthen the local energy structure, promote the realization of the national goal of constructing the "Green Energy Belt of the Lower Yellow River," and help the region transition towards high-tech chemical industry. The investment in this project aligns with the Company's strategic goal of green sustainable development and is expected to enhance the long-term profitability of the Group. The Company awarded each general contracting agreement to the contractors through a rigorous competitive public market bidding process on China's procurement and bidding platforms and networks (including the China Power Equipment Information Network and the State Power Investment Corporation E-commerce Platform). The prices payable for each of the three general contracting agreements are in line with prevailing prices charged by other companies for comparable projects in the market. The directors believe that the prices and terms of the general contracting agreements are not less favorable than those provided by independent third parties to the Group.