HXTL (01085) subsidiary Zibo Longen enters into EPC contract with contractor for Shandong project.

HXTL (01085) announces that on September 24, 2026, Zibo Longen (an indirect non-wholly-owned subsidiary of the Company) entered into an EPC contract with the contractor for the Shandong Project, with a total contract price of RMB 696.8 million (tax inclusive). The Shandong Project refers to the Yiyuan Lucun Longen 200 MW/800 MWh electrochemical energy storage project, to be located in Lucun Town, Yiyuan County, Zibo City, Shandong Province, China. The Shandong Project will be equipped with a 220 kV booster station; this booster station will be connected via one newly built 220 kV line to the 220 kV booster station of the Yiyuan Lucun Supa 200 MW (400 MWh) independent energy storage project, and together with the Supa energy storage station and the agrivoltaic power generation project of Shandong Zhongzhen Agricultural Development Co., Ltd., will be transmitted via one 220 kV line to the 220 kV Shezhuang switching station. The proposed construction of the Shandong Project is intended to support the development of the Group's new energy and services business. The Shandong Project is expected to enhance the flexibility, reliability, and efficiency of energy supply by storing electricity when electricity demand is low or power generation conditions are favorable, and releasing electricity when electricity demand is high. From the perspective of the power grid, independent energy storage can absorb excess electricity during peak renewable energy generation periods and rapidly discharge during peak demand periods or when supply is tight, thereby performing functions such as peak shaving and valley filling, frequency and voltage regulation, emergency backup, and alleviating local transmission and distribution pressure. This will enhance renewable energy consumption capacity, power supply reliability, and power system operating efficiency under Shandong's high proportion of renewable energy penetration, while reducing the investment pressure of relying solely on new power sources and grid expansion to meet peak load. The Shandong Project is also expected to promote the integration and utilization of renewable energy, reduce reliance on traditional power sources during peak hours, and help the Company achieve its sustainable development and carbon reduction goals. In addition, the project is expected to enhance the Company's ability to provide diversified energy management and related services to customers. The transaction is in line with the Company's long-term business strategy of expanding its new energy and services business and developing potential future revenue sources.