Towngas Smart Energy announces disposal to ABS program

Towngas Smart Energy Company Limited announced the disposal of equity interests in its rooftop photovoltaic power generation subsidiaries to the Second Tranche Program for approximately RMB470 million. This move is linked to phase 2 of the ABS Program, following prior announcements in September and December 2024 regarding the initial ABS Program. As part of the transaction, the Group will subscribe for equity class ABS with a principal amount of RMB24 million, representing 5.1% of the total ABS issued under the program. The Group intends to utilize the disposal proceeds for investments in photovoltaic and energy storage projects, repayment of bank borrowings and for general working capital purposes. The disposal does not constitute a notifiable transaction under the Listing Rules.