HORIZON CD (09930) proposes to purchase 25.6306% equity of Shanghai Hongzuo New Energy Technology Co., Ltd. for a total of RMB 77.4029 million.

HORIZON CD (09930) Announcement: On March 13, 2026, Tianjin Hongtou (a wholly-owned subsidiary of the company) and Shanghai Depeng signed a share transfer agreement. Tianjin Hongtou conditionally agreed to subscribe to and Shanghai Depeng conditionally agreed to sell 25.6306% equity of Shanghai Hongzuo New Energy Technology Co., Ltd. (target company) for a price of RMB 77.4029 million. As of the date of this announcement, Shanghai Depeng is a wholly-owned subsidiary of FE HORIZON (03360), which is the controlling shareholder of the company and holds approximately 44.89% of the company's issued shares. Therefore, Shanghai Depeng is a connected person of the company under the Listing Rules. Accordingly, the acquisition constitutes a connected transaction of the company. Shanghai Hongzuo is one of China's leading investment and operation enterprises of distributed photovoltaic power stations, whose main business currently does not involve overseas operations. Meanwhile, the photovoltaic market in the Middle East and Southeast Asia is rapidly growing, with the Middle East being one of the fastest-growing regions in the global photovoltaic industry. The local governments actively support industry development, and the compound growth rate of CECEP Solar Energy's installed capacity is expected to exceed 50% in the next five years. The company has achieved a scaleable presence and established a solid network and team in the Middle East and Southeast Asia regions. Its equipment leasing business is maturing, and the equipment allocated in the local areas can effectively serve the construction of local photovoltaic power stations, with a certain customer base. The acquisition will deepen the cooperation between the two parties, forming a strategic synergy in the Middle East and Southeast Asia. In the future, the two parties will collaborate with local leading EPC enterprises, accelerate the expansion of industrial opportunities in the overseas distributed photovoltaic market through creating a new overseas cooperation model, and benefit the overall interests of the company and its shareholders.