SHNE secures RMB1 bn wind power EPC contract in Heze City

Shandong Hi-Speed New Energy Group Limited (SHNE) and Shandong Hi-Speed Holdings Group Limited (SDHG) jointly announced an EPC contract valued at RMB1,011,365,724.00. The contract, signed on September 13, 2025, involves Heze SH Energy, a direct wholly-owned subsidiary of SHNE, engaging Joint Contractors China Energy Engineering No. 2 Construction Co and Zhengchen Technology for a 175MW distributed wind power project in Yuncheng County, Heze City, Shandong Province. The project's fixed single watt price is RMB5.7792.

The contract consideration is divided into several components, including RMB398,528,683.04 for construction and engineering installation, RMB477,115,039.88 for equipment purchase, and RMB12,250,000.00 for survey and design. The construction period is set for 303 calendar days. Due to aggregated transactions, the EPC contract constitutes a discloseable transaction for SHNE and a connected transaction for both SHNE and SDHG.

For SHNE, the transaction requires reporting, announcement, circular, and independent shareholders' approval, as the highest applicable percentage ratio exceeds 5%. For SDHG, it requires reporting and announcement but is exempt from circular and independent shareholders' approval requirements, with the highest applicable percentage ratio exceeding 0.1% but falling below 5%. An EGM for SHNE shareholders will be held on or before October 13, 2025.