Shandong Hi-Speed awards 100MW wind farm contract to consortium

Shandong Hi-Speed New Energy Group Limited (SHNE) and Shandong Hi-Speed Holdings Group Limited (SDHG) jointly announced that subsidiary Zhaoping Shangao entered into an EPC Contract on December 16, 2025. The contract, worth RMB674,628,269.88, was awarded to a consortium of Joint Contractors (CCCC FHEC, FHSW Engineering, and PowerChina Henan) for a 100MW wind farm project in Zhaoping County, Hezhou City, Guangxi Zhuang Autonomous Region. The total contracting fee is tentatively tax-inclusive and subject to adjustment based on changes in national tax policies. The project’s unit price is RMB6.746 per watt based on the approved 100MW capacity.

The EPC Contract encompasses engineering survey and design for the wind farm, switchyard, collection and transmission lines, as well as procurement, transportation, and storage of all necessary equipment and materials. The construction period is set for 791 calendar days, with the actual commencement date to be confirmed by a formal written notice from the principal.

This transaction is deemed a discloseable transaction for both SHNE and SDHG under Chapter 14 of the Listing Rules, as one or more applicable percentage ratios exceed 5% but are less than 25%. The consideration was determined through a competitive tendering process, with the Joint Contractors scoring highest among five candidates after two rounds of evaluation. The SHNE and SDHG Boards view the contract as being on normal commercial terms and in the best interests of their respective shareholders.