HYBRID KINETIC (01188) has entered into a memorandum of understanding with Hengwan New Energy (Qianshan) Co., Ltd.

HYBRID KINETIC (01188) announced that on August 20, 2026, the company entered into a memorandum of understanding with Hengwan New Energy (Qianshan) Co., Ltd. The memorandum outlines a framework for the parties to explore potential cooperation opportunities, aiming to establish long-term strategic collaboration and mutual commercial benefits. According to the memorandum, the parties intend to explore cooperation in several areas, including: (i) promoting Hengwan's 5 GWh annual energy storage and power battery industry project, covering construction, equipment procurement, and infrastructure development, as well as collaborating on production operations, quality control, supply chain procurement, and financial management for battery manufacturing; (ii) jointly developing energy storage cells, power lithium-ion batteries, and system solutions to drive product iteration and technology optimization, as well as jointly expanding domestic and international markets, broadening customer channels, and exploring product application scenarios; and (iii) exploring cross-business promotion, jointly participating in industry activities, and sharing industry intelligence, market resources, and operational expertise. The announcement stated that the Group is actively developing its business in the energy storage and power battery physical industry. The proposed cooperation with Hengwan will enable the Group to accelerate its layout in the energy storage and power battery physical industry segment, leveraging Hengwan's stable production capacity, solid new energy technology strength, and compliant operational foundation. Furthermore, the proposed partnership will allow each party to benefit from the competitive advantages of the other and create new mutually beneficial business opportunities within the new energy industry chain.