SFQ GLOBAL(01953): Subsidiary Enters into an Engineering, Procurement and Construction Contract for the CECEP Solar Energy Photovoltaic and Energy Storage System Located in the Democratic Republic of the Congo

SFQ GLOBAL (01953) announces that recently its subsidiary, Saifuxun Huanyu Co., Ltd., entered into an engineering, procurement and construction contract (EPC contract) for the CECEP Solar Energy photovoltaic and energy storage system (the Project) located in the Democratic Republic of the Congo. The total contract amount is approximately US$41.4 million, comprising approximately US$22.3 million for Phase I and approximately US$19.1 million for Phase II. The scope of work for the Project includes design, equipment and materials procurement, multimodal transportation to the project site, construction, installation, commissioning, grid connection, performance testing and related maintenance services. The Company has been actively exploring new business expansion and strategic upgrade opportunities. The Company believes that continuing to leverage its advantages in industrial and infrastructure construction projects and breaking away from the single-market regional layout of Malaysia are the driving forces for the Company's further development. The Company's business development has undergone strategic planning, and it believes that the following business expansion and strategic upgrade directions can further expand the Company's revenue sources and enable it to enter high-growth industries and regions: (i) on the basis of continuing to focus on and develop the current industrial and infrastructure construction sector, further focus on the new energy power station construction contracting business to capture the high-speed growth opportunities in the new energy power station construction contracting (EPC) market; and (ii) leveraging the regional advantages of the Company and its controlling shareholder in Southeast Asia and Africa to further expand its business regions from Malaysia to other Southeast Asian countries and African regions, thereby diversifying single-market operational risks and opening up broader market space.