Xinyi Energy acquires Jinzhai Wind Power for 62 million yuan

Xinyi Energy Holdings has agreed to acquire the entire equity interest in Jinzhai Wind Power for a total consideration of 62.0 million yuan. The Equity Transfer Agreement, signed on December 23, 2025, involves XYG (Wuhu) selling its 82.0% stake for 50.8 million yuan and XES Anhui Power selling its 18.0% stake for 11.2 million yuan. The acquisition will be settled in cash.

Jinzhai Wind Power, a company established in the PRC, operates a 64 MW wind farm in Jinzhai City, Anhui Province, operational since 2017. This acquisition is considered a connected transaction under Listing Rules for XYG, Xinyi Energy, and Xinyi Solar Holdings, and under GEM Listing Rules for Xinyi Electric Storage Holdings. It is subject to reporting and announcement requirements.

The valuation, conducted by an independent third-party valuer appointed by Xinyi Energy, used a discounted cash flow approach, determining the appraised value of Jinzhai Wind Power as of October 31, 2025, to be 62.0 million yuan. The Xinyi Energy directors confirmed that the total consideration will be funded by the Xinyi Energy Group’s internal financial resources. Upon completion, Jinzhai Wind Power will become a wholly-owned subsidiary of Xinyi Energy, with its financial results consolidated into the Xinyi Energy Group.