China HK Power (00931) signs oil and gas strategic cooperation agreement with Al-Qimmah. Resumption of trading on April 21.

CHINA HK POWER (00931) announced that the company has entered into a cooperation agreement with Al-Qimmah on April 19, 2026. According to the agreement, both parties will establish a long-term strategic cooperation relationship in capital cooperation and oil and gas trade fields, jointly promoting the international energy business development of the company. The company has applied to the Stock Exchange for the resumption of share trading starting from 9:00 am on April 21, 2026 (Tuesday). Under the cooperation agreement, Al-Qimmah will provide high-quality oil and gas resources from diversified suppliers globally to the company, and the company will be responsible for the international sales and market development of the resources; the two parties plan to carry out investment cooperation in high-quality oil and gas assets globally. Proposed project reserves include: (i) a new liquefied natural gas (LNG) receiving station project on the coast of China; (ii) an oil and gas production enhancement project (EOR) in Southeast Asia; and (iii) a large-scale liquefied natural gas infrastructure project in North America. Al-Qimmah will subscribe to the company's new shares. It is reported that Al-Qimmah is a company registered and validly existing under the laws of the Dubai Multi Commodities Centre (DMCC), with registration number DMCC203710, owned and controlled entirely by His Royal Highness Prince Fahad bin Abdulrahman bin Abdulaziz Al Saud, who also serves as the Chairman of the company. Al-Qimmah is an international energy trading and supply platform, with solid contractual relationships and supply access arrangements with upstream oil and gas producers, national oil companies, international oil companies, and LNG portfolio suppliers in multiple jurisdictions. The Board believes that through the cooperation with Al-Qimmah, both parties can establish a long-term and stable strategic layout in the global oil and gas sector, covering upstream resource acquisition, midstream infrastructure investment, and downstream trade and market expansion, further enhancing the internationalization development level of the group. The Board is very excited about this cooperation that introduces global upstream oil and gas resources and international project funding support. The Board believes that this cooperation will bring scaled, sustainable, and recurring trade business growth to the company, significantly enhancing the group's post-tax profit level. Additionally, through deep synergy with partners in upstream asset areas, the group is expected to gradually establish a scaled international upstream asset portfolio, further refining its layout in the oil and gas industry chain, ensuring the stability and sustainable development capability of future business. Furthermore, the proposed equity investment will help optimize the group's capital structure, strengthen its financial strength, and support its continuous advancement in global energy layout. Combining Al-Qimmah's advantages on the resource side and the group's capabilities in market channels and end sales, both parties are expected to achieve synergy effects, further expand business scale, and enhance profitability, creating long-term value for shareholders. Moreover, by participating in the investment and development of high-quality global oil and gas assets, the group will further optimize its asset portfolio, enhance long-term profitability and risk resistance, thus creating more stable and sustainable returns for shareholders.