ShaoNeng Corporation: Wholly-owned subsidiary signs significant operating contract worth 22 million yuan.

Shao Neng Group announced that its wholly-owned subsidiary, Shao Neng Group Xinfengxu Biomass Power Generation Co., Ltd., has signed a cooperation agreement with Element Carbon Energy Limited for the independent energy storage power station project site and power plant resources. Element Carbon intends to lease the land on the northwest side of the Xinfengxu North Stackyard and the northwest side of the substation, with a total area of approximately 12,570 square meters, to build a 100MW/200MWh independent energy storage power station project. The total amount of this agreement is RMB 22 million, including RMB 10 million for resources fees such as grid access conditions, access interval conditions, and shared GIS room, and RMB 12 million for land lease fees for a 20-year lease term. The resources fees will be paid in five installments based on project progress, with payment percentages of 5%, 5%, 15%, 35%, and 40% respectively. The land lease fees will be paid annually, with an annual rent of RMB 600,000.