China Power International updates on continuing connected transactions

China Power International Development Limited (CPID) announced details of continuing connected transactions involving its non-wholly-owned subsidiary, Yuanda Environmental, and its subsidiaries. These transactions became continuing connected transactions following the asset restructuring completed on December 8, 2025. They include Desulfurization, Denitrification and/or Dedusting Concession Contracts, a Concession Contract for Reclaimed Water Treatment, and an Annual Framework Purchase Contract for Denitrification Catalysts. SPIC, the ultimate controlling shareholder with approximately 65.41% equity, and Pingwei Power, a subsidiary of substantial shareholder Huainan Mining, are identified as key connected persons.

The concession contracts, primarily with SPIC subsidiaries or an associate and Pingwei Power, have concession periods ranging from 15 to 30 years or the useful life of the licensor’s power generation units. Tariffs for desulfurization, denitrification, and dedusting services vary. The Annual Framework Purchase Contract for Denitrification Catalysts, active from June 23, 2023, to December 31, 2025, involves prices ranging from 7,800 yuan to 30,850 yuan per cubic meter.

These transactions are deemed by the directors to be in the ordinary course of business, on normal commercial terms, and fair and reasonable, supporting intensive management, market expansion, and enhanced operational efficiency for Yuanda Environmental. They are subject to reporting, annual review, and disclosure requirements under Chapter 14A of the Listing Rules.