China Longyuan renews financial, factoring services with connected parties

China Longyuan Power Group Corporation Limited announced the renewal of its financial services agreement and factoring services agreement. The new financial services agreement with China Energy Finance, a subsidiary of controlling shareholder CHN Energy, is effective from January 1, 2026, to December 31, 2028. This agreement covers comprehensive credit facilities, deposit services with a daily deposit balance cap of RMB1.1 bn, and other financial services with annual fees not exceeding RMB20 m, all offered on normal commercial terms.

Concurrently, China Longyuan renewed its factoring services agreement with Guoneng Factoring, also a CHN Energy subsidiary. This new factoring services agreement, also effective from January 1, 2026, to December 31, 2028, provides factoring services for accounts receivable and related services. The maximum daily balance for these factoring services is capped at RMB1.5 bn annually, ensuring terms are no less favorable than those from independent third-party factoring companies.

Both renewals constitute continuing connected transactions under listing rules Chapter 14A. The agreements were approved by the board, with connected directors abstaining from voting. The board views these renewals as fair, reasonable, and in the interests of the company and its shareholders.