Qilu Expressway extends $50m loan to energy tech subsidiary

Qilu Expressway Company Limited has entered into a loan agreement on December 18, 2025, to provide a loan facility of up to RMB50,000,000 to Qilu Energy Technology, a non-wholly-owned subsidiary. The one-year loan, at a one-year LPR market quoted rate, will support Qilu Energy Technology's production and operation activities, including settling supplier payments and covering rental costs. Zhengchen Technology will provide a joint and several liability guarantee for the loan.

Qilu Energy Technology, established on January 17, 2025, with RMB100 million registered capital, specializes in high-performance wind power hybrid towers. The subsidiary faces significant funding challenges for capital investment and research and development due to its recent establishment and lack of historical financial data, making bank credit difficult to obtain. This loan aims to ensure operational continuity and secure project revenues.

The transaction constitutes a connected transaction under the listing rules, as Qilu Energy Technology is a connected subsidiary and connected person. The loan agreement and related transactions exceed 0.1% but are below 5% of the highest applicable percentage ratio, making them subject to reporting and announcement requirements but exempt from independent shareholders' approval. The guarantee contract is fully exempt due to normal commercial terms and no collateral from the company.