Hunan development: major asset restructuring approved by the Hunan Provincial State-owned Assets Supervision and Administration Commission.

The development announcement of Hunan Province stated that the company has received the approval from the State-owned Assets Supervision and Administration Commission of Hunan Province on the issuance of shares by Hunan Energy Group Development Co., Ltd., the purchase of 4 hydropower assets with cash, and the raising of matching funds, as well as related party transactions. The State-owned Assets Supervision and Administration Commission of Hunan Province has agreed in principle to the overall plan of the company's major asset restructuring and fundraising. This transaction still needs to be submitted to the company's shareholder meeting for approval and other possible approvals or approvals required by relevant laws and regulations.