Wasion subsidiary inks energy storage supply deal with connected firm

On November 14, 2025, Wayon Energy, a Wasion Holdings Limited subsidiary, signed a Master Agreement with Renox for the supply of energy storage system products. Renox is indirectly 34.30% owned by Mr. Ji Wei and Mr. Kat Chit, both executive directors and connected persons of Wasion Holdings. This agreement, effective until December 31, 2027, establishes a framework for ongoing transactions between the Wayon Energy Group and the Renox Group.

Pricing for general products will be based on current market rates, while exclusively developed products will use a cost-plus model with margins ranging from 20% to 30%. The Master Agreement sets annual sales caps to Renox: 15 million yuan for November 14 to December 31, 2025; 150 million yuan for 2026; and 300 million yuan for 2027. These caps are based on Renox Group's project requirements and Wayon Energy Group's sales forecasts in the Australian market.

The Master Agreement is subject to reporting, announcement, and annual review requirements under Chapter 14A of the Listing Rules, but is exempt from independent shareholder approval. The agreement aims to leverage Renox's market channels in Australia to introduce and distribute Wayon Energy's products, securing stable sales and ensuring cost predictability.