WAI CHUN BIOTEC (00660) signs "Memorandum of Strategic Cooperation for New Energy Projects" with large central enterprises and international giants.

WAI CHUN BIOTEC (00660) announced on April 12, 2026, that the company, as the lead and controlling party, signed a "New Energy Project Strategic Cooperation Memorandum" with several large Chinese central enterprises (CECEP), overseas renowned multinational giants, and top international financial institutions (referred to as "cooperation parties"). The cooperation parties will jointly invest, develop, construct, and operate wind power and CECEP Solar Energy generation and other new energy projects globally. According to this memorandum, the cooperation parties agreed to jointly develop and implement wind power and CECEP Solar Energy generation projects in multiple countries and regions globally. Specifically, the total scale of new energy projects developed only in the Korean market is stipulated to be no less than $50 billion (approximately HK$390 billion). Furthermore, the target project map spans a wide range of countries, including Thailand, Indonesia, five Central Asian countries, the United States, Canada, Romania, Saudi Arabia, Zambia, Mongolia, and other global core and emerging markets. With such vast project volume and global reach, the group will experience immeasurable potential for performance growth. The group will subsequently announce projects in multiple countries globally, with the total project scale reaching a trillion-dollar level. The group has successfully gathered top industrial and financial resources globally, with an unprecedentedly strong lineup of partners covering the entire industry chain of engineering contracting, equipment supply, joint investment, and financial support. This lineup provides comprehensive credit endorsements and support for the group's trillion-dollar new energy projects: Top Engineering, Procurement, and Construction (EPC) Contractors: including large central enterprises such as China State Construction Engineering Corporation's International Company of the Sixth Engineering Bureau (CSCEC), China Construction, and South Korean multinational giants POSCO and Doosan. These companies have committed to providing competitive pricing and ensuring quality control to ensure the successful completion of projects on time. Global Renowned Enterprises for Joint Investment and Equipment Provision: including leading new energy equipment manufacturer Mingyang Group (providing core wind turbine equipment and technology) and Korea South-East Power (providing local language support for grid connection and power purchase agreements). Joint investment partners and the company will share risks and rewards according to equity proportions. Strong Support from International Financial Institutions: the project will receive comprehensive financial support for project financing, export credit insurance, and bond issuance from authoritative domestic and international financial institutions such as SINOSURE, UKEF, CITIC BANK, and CUSTODIA Group. In this luxurious lineup consisting of central enterprises and international giants, the company will act as the lead party, developer, operator, major investor, and controlling party for global new energy projects. The company will be responsible for integrating global project resources, leading early-stage project development, obtaining government approvals, and making investment decisions. As the major contributor and majority shareholder, the company will be fully responsible for overall business operations and asset management post-project completion to gain core returns. In order to demonstrate the group's firm determination to advance into and deeply cultivate the global new energy field, the company plans to change its name to "Wai Chun Energy Group Limited." The cooperation parties will establish a joint working group led by the company, hold regular progress meetings, and secure project resources. Once the target projects are evaluated and approved, the cooperation parties will immediately sign legally binding documents such as the "Joint Venture Agreement" and "EPC Turnkey Contract" to ensure the rapid implementation of the $50 billion and other large-scale projects globally. With the vast historical opportunities for global carbon neutrality and energy transformation, the new energy industry is experiencing explosive growth. The board believes that the signing of this strategic cooperation memorandum is the most significant milestone in the group's development history. Firstly, this memorandum establishes the company's advantageous position in the trillion-dollar global new energy market, completely opening up the business ceiling for the group. Secondly, the scale of the $50 billion Korean project and the broad global layout will bring a continuous source of high-quality assets and long-term stable cash flows to the group. Lastly, by forming strong alliances with large central enterprises such as CSCEC and China Construction, as well as domestic and foreign industry giants like POSCO and Mingyang Group, and obtaining their strong endorsements, the group's powerful resource integration capabilities, high international market recognition, and outstanding project execution capabilities are fully demonstrated. The board firmly believes that with the planned renaming to "Wai Chun Energy Group Limited" and the gradual implementation of the above-mentioned giant projects, the group will achieve a leap in strategic upgrading, transforming into an internationally leading new energy industry group, and thus creating significant and long-term investment returns for the company's shareholders.