Xinte Energy revises annual cap for TBEA group services to 600m yuan

Xinte Energy Co. announced a revision to its annual cap for continuing connected transactions with TBEA Group, raising the cap for miscellaneous services for the year ending December 31, 2025, from 450 million yuan to 600 million yuan. This adjustment, made through a supplemental framework agreement, addresses increased demand from the group's 3GW new energy projects in Zhundong.

The company's investment in these new energy projects led to a greater need for miscellaneous services, particularly for the construction of booster stations, with an approximate transaction amount of 240 million yuan for this specific project. For the nine months ended September 30, 2025, the actual transaction amount for miscellaneous services reached approximately 390 million yuan, with 100 million yuan attributed to booster station construction, necessitating the cap revision.

The aggregated annual cap for all transactions with TBEA Group has consequently increased from 2.9 billion yuan to 3.05 billion yuan. TBEA, a controlling shareholder, holds approximately 66.61% interest in Xinte Energy. The revision of the annual cap, along with other existing framework agreements, exceeds 5% of the applicable percentage ratios, thus requiring reporting, annual review, announcement, and independent shareholders' approval.