Xinyi Energy and Xinyi Solar detail Tianjin equity disposal

Xinyi Energy Holdings Limited and Xinyi Solar Holdings Limited have issued a supplemental joint announcement regarding the disposal of an equity interest in Xinyi Solar (Tianjin). The transaction involves the sale of 51% of the equity interest to a purchaser whose ownership includes State-owned enterprises and entities linked to the PRC government. The consideration for this disposal was informed by a valuation report valuing the entity at 1,009.00m yuan.

The boards of both companies considered the net asset value of Xinyi Solar (Tianjin) as of June 30, 2025, which stood at 812.27m yuan and 816.15m yuan in the unaudited consolidated financial statements of Xinyi Energy and Xinyi Solar, respectively. Qualitative factors included the Tianjin Huanggang Zone Solar Farm's long operating history since December 2016, stable utilisation rates, the benefits of the feed-in-tariff regime, and future service income.

Both Xinyi Energy and Xinyi Solar do not have access to or the required consent to disclose the contents of the valuation report, and the directors did not obtain an independent or third-party valuation. The directors have confirmed that all parties involved are independent third parties.