Xinte Energy revises annual cap for TBEA transactions

Xinte Energy Co., Ltd. proposes to revise its annual cap for miscellaneous services procured from TBEA Group for the year ending December 31, 2025, increasing it from RMB450 million to RMB600 million. This adjustment is primarily due to accelerated construction of 3GW New Energy Projects in Zhundong, with booster stations now expected to be completed by the end of 2025 instead of 2026.

The revised cap includes an additional buffer of 10% to 15%, equating to RMB60 million to RMB90 million, to prevent business disruption. As of September 30, 2025, the actual transaction amount for miscellaneous services was approximately RMB390 million, with RMB100 million attributed to the booster stations.

The aggregated annual cap for all transactions with TBEA Group will increase from RMB2,900 million to RMB3,050 million. This revision requires Independent Shareholders' approval at the upcoming Third Extraordinary General Meeting on December 2, 2025, where TBEA Group, holding approximately 66.61% of Xinte Energy's share capital, will abstain from voting.