The strategic synergy cooperation between two major shareholders has landed, as BINHAI INV (02886) signed a green hydrogen supply framework agreement with Sinopec Nova Energy Company.

BINHAI INV Limited (02886) announced on May 21st that its wholly-owned subsidiary BINHAI INV (Tianjin) Limited (BinTianjin) has signed a green hydrogen supply framework agreement with SINOPEC CORP Limited's wholly-owned subsidiary Sinopec Xinxing (Beijing) New Energy Limited (Sinopec Xinxing New Energy Company) with a validity period of five years. This cooperation fully demonstrates the strategic synergies between the two major shareholders of BINHAI INV - Tianjin TEDA Investment Holding (Group) Limited and SINOPEC CORP Limited. As early as March 4, 2026, Tianjin TEDA and Sinopec Natural Gas signed a "Framework Agreement on Further Deepening Strategic Cooperation to Support the Development of the Company," clearly stating that both parties will jointly support BINHAI INV in improving the industrial chain, expanding the scale of the terminal market, and enhancing the overall competitiveness of the comprehensive energy business. The signing of this green hydrogen framework agreement is a concrete manifestation of this strategic cooperation in the field of new energy. According to the green hydrogen framework agreement, in this cooperation, BINHAI INV and Sinopec Xinxing New Energy Company will conduct a series of collaborations regarding the purchase and sale of hydrogen for the 100,000 tons/year integrated wind-hydrogen production project in Ulanqab and the hydrogen delivery pipeline demonstration project, as well as blending hydrogen matters related to the core trunk natural gas source supply network of BinTianjin and its future planned networks. Both parties will focus on promoting different proportions of hydrogen blending experiments in the municipal gas pipeline network of Tianjin City, with plans to complete small-scale full-process testing and verification between 2026 and 2028. In terms of pipeline connection, both parties strive to enable BINHAI INV's second gas source pipeline in Tianjin Binhai New Area (design pressure 1.6MPa) and the Binhai New Area natural gas pipeline project (design pressure 4.0MPa) to be capable of receiving hydrogen by the end of 2028. On the commercial operation level, starting from 2029, Sinopec Xinxing New Energy Company will supply green hydrogen stably to BINHAI INV, with an expected initial annual supply volume of about 20,000 to 30,000 tons. In terms of pricing, Sinopec Xinxing New Energy Company will offer BINHAI INV the most favorable hydrogen use price, and the specific final supply volume and price will be based on the annual supply and demand contract signed by both parties. Additionally, both parties will explore a wider range of ecological co-construction in the areas of power generation, metallurgy, transportation, hydrogen refueling station construction, hydrogen energy technology innovation, and standard setting. The board of directors of BINHAI INV believes that the signing of this agreement holds significant and far-reaching strategic importance for the group. Leveraging SINOPEC's strategic advantages in the green hydrogen industry chain, BINHAI INV can take the lead in conducting commercial exploration of "green hydrogen + natural gas" in Tianjin City, promoting the upgrade of infrastructure from single natural gas transmission to comprehensive transmission services. This move is expected to kickstart the group's "third growth curve" and accelerate its transformation and upgrade to a comprehensive energy operator.