Hunan development: Issuance of shares and payment of cash for the purchase of assets and raising of matching funds approved.

Hunan Development Announcement: The company proposes to purchase 85% equity of Hunan Xiangtou Yuanling Gaotan Power Generation Co., Ltd., 90% equity of Hunan Xiangtou Tongwan Water Resources and Hydropower Development Co., Ltd., 90% equity of Hunan Xiangtou Qingshitang Hydropower Development Co., Ltd., and 88% equity of Hunan Xinshao Xiaoxi Hydropower Development Co., Ltd. held by Hunan Energy Group Power Investment Co., Ltd. through issuing shares and paying cash, while issuing shares to no more than 35 specific investors who meet the conditions to raise supporting funds. The Mergers and Acquisitions Review Committee of the Shenzhen Stock Exchange held the 3rd Mergers and Acquisitions Review Committee meeting of 2026 on February 6, 2026 to review the company's application for this transaction. According to the announcement of the results of the 3rd review meeting of the Shenzhen Stock Exchange Mergers and Acquisitions Review Committee in 2026, the review result of this meeting is that the transaction meets the restructuring conditions and disclosure requirements. This transaction still needs to obtain the approval from the China Securities Regulatory Commission, and there is still uncertainty as to whether the approval will be obtained and when it will be obtained.